‘Ghost of WaMu’ posts 61-page expert valuation report
After Washington Mutual Bank became the biggest failure of any savings and loan in U.S. history, its bankruptcy proceedings languished for over three years, complicated by insider claims against the hedge funds that allegedly traded in the bank’s debt while trying to negotiate a reorganization. Just last month, the court considered the debtors’ sixth amended [...]
WaMu bankruptcy case stalled despite decision on valuation issues
In re Washington Mutual, Inc., 2011 WL 4090757 (Bkrtcy.D.Del.)(Sept 13, 2011) When Washington Mutual Bank—once the nation’s largest savings and loan association—was seized by federal regulators in September 2008, it became the largest bank failure in the nation’s history. That same day, the feds sold substantially all of WaMu’s assets to J.P Morgan Chase Bank, [...]
More bankruptcy valuations as FCC licenses retain private economic value including goodwill
Long-established law prohibits the owners of FCC licenses from pledging the licenses themselves as collateral. Aware of these federal regulations, a mobile satellite provider granted its secured note holders an interest in all economic proceeds from the “sale, transfer, or other disposition” of their FCC licenses as well as any related “goodwill or other intangible [...]
New case law collections in intellectual property and bankruptcy valuation
BVR Business Valuation & Bankruptcy Compendium The new BVR Business Valuation & Bankruptcy Compendium: Case Law and Analysis contains over 100 court case abstracts and full text opinions of bankruptcy cases involving a dispute over the value of a business. The compendium includes all precedent-setting cases in the United States over the last 15 years [...]
What has your financial expert published? Make sure you know.
If you want a lesson on how an expert can be “hoisted on his own petard,” look for the complete digest and the court’s opinion of Nelson v. Walnut Investment Partners, Ltd., 2011 WL 2711318 (S.D. Ohio)(July 13, 2011) to be posted soon at BVLaw. What happened? Opposing counsel know that an expert’s published articles and statements [...]
New case digests added to BVLaw
Metro Tech Corp. v. TUV Rheinland of N.A., 2010 WL 4117123 (D. Puerto Rico.)(Oct. 18, 2010); and Metro Tech Corp. v. TUV Rheinland of N.A., 2010 WL 4117115 (D. Puerto Rico.)(Oct. 18, 2010) Court limits damages to breach of contract to those that can be ascertained with reasonable certainty, and qualifies first-time lost profits plaintiff’s [...]
New cases added to Business Valuation Law
These new cases and others are being added to the Business Valuation Law database this week: Wilson v. Wilson, 2010 WL 4723461 (W. Va.)(Sept. 21, 2010) West Virginia Supreme Court finds that construction management fees, conditioned on completion of a project, are analogous to attorney contingency fee contracts and subject to same rules of equitable [...]
BV & Bankruptcy Case Law Compendium to publish in October
We’ve just announced plans to publish a new legal resource on CD. BVR Business Valuation & Bankruptcy Compendium: Case Law and Analysis, slated for October 2010 publication, will contains over 100 fully indexed and searchable court case abstracts and full text opinions for bankruptcy cases involving challenges over the valuation of business assets. The collection, [...]
Key cases lawyers need to know on the “discount rate”
Most lawyers underestimate the impact the discount rate can have on determining the value of a company for family, tax, securities, corporate, bankruptcy, ESOP, damages/lost profits, and other legal matters. We checked BVLaw and found two very recent bankruptcy cases to add to other precedential decisions, for a total of 13 “must read” cases for [...]
Bankruptcy decision rejects standard three-year income projections
Have you ever used a business’s three-year historical annual average to project sales and revenue growth, EBITDA or capital expenditures? Have you ever used the term “zone of insolvency” to describe a business on the brink of bankruptcy? Does your valuation report sometimes omit the precise formula used in your DCF? If you answered “yes” [...]
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