Y/S Advisory Services discuss the state of the business valuation market
BVR’s Blake Lyman recently sat down to discuss the state of the business valuation industry with Kevin Yeanoplos and Ron Seigneur. With over two decades of experience each, Yeanoplos and Seigneur recently joined forces to form Y/S Advisory Services, a premier consulting service designed to help professionals in the business valuation space develop and grow [...]
You help your clients…but who helps you?
BVLaw™ is pleased to announce our association with Y&S Advisory Services. With over two decades of experience each, Kevin Yeanoplos and Ron Seigneur recently joined forces to form Y&S Advisory Services. The firm offers on-demand guidance for when you’re uncertain about the best approach to take with a specific business valuation impeachment or defense. They’re [...]
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 [...]
BVR Launches BVLaw – New Service for Law Firms and Business Appraisers
Business Valuation Resources, LLC, is pleased to announce the launch of Business Valuation LawTM, a new Web-based information service for attorneys and business appraisers involved in business valuation-related litigation or legal review. BVLaw™ is the first central, fully searchable repository for all valuation cases and summary digests. BVLaw™ legal analysts identify, track and collect published decisions from [...]
Ten ways lawyers kill their own experts
Financial experts can make or break a case for economic damages, lost profits, taxable fair market values, dispositions in divorce, shareholder dissolutions—and more, but many lawyers “inadvertently destroy their experts’ credibility,” says a recent report by the American Bar Association. The most common “bad attorney habits” include Ø Finding experts at the last minute [...]
One good way to attack opposing valuation experts
Business appraisers and financial experts rely on a number of databases of private company transactions. The IBA database is one such product…but it has a large weakness: brokers and advisors are paid directly to submit data. This creates a number of credibility issues that can easily be attacked under cross-examination: first, what kind of business [...]
Rettig advises acknowledging subsequent events, even though they aren’t a valuation factor
One of the best answers litigator Chuck Rettig has heard to cross-examination about subsequent events came from valuation expert Chris Mercer. Chris recounts a question address to an appraiser asking why he hadn’t considered factors that occurred months after the valuation date. The response: “It hadn’t occurred.” It’s not always that easy, though. “What happens [...]
How to work with your financial experts…and win
“I want someone who will present well in court, obviously,” said Allen Mayefsky (Sharesky Aronson Mayefsky & Sloan LLP, New York City). “But most financial experts do the same thing in report after report. I want someone who can apply the concepts in a legitimate and justifiable way—but that also may be out of [...]
What do lawyers expect from the financial experts they hire?
“I want someone who will present well in court, obviously,” said Allen Mayefsky (Sharesky Aronson Mayefsky & Sloan LLP, New York City). “But most financial experts do the same thing in report after report. I want someone who can apply the concepts in a legitimate and justifiable way—but that also may be out of [...]
Are there other methods to support your expert's financial judgment that you haven't been told about?
If there was the major theme at some of the major BV meetings where lawyers and their financial expert witnesses met recently—Boston (ASA), San Diego (USD Tax Conference), and Chicago (NACVA CTI meetings and BVR Divorce Summit), it was this: BV best practices now require that your expert witnesses don’t ignore a tool that’s available [...]
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