Alabama adopts fair value in divorce, under broader equitable standard
Grelier v. Grelier, 2009 WL 5149267 (Ala. Civ. App.)(Dec. 30, 2009) In what could serve as precedent for states that now apply the broad, equitable standard for valuing businesses in divorce, the Alabama Court of Appeals considered a case in which the husband owned a minority (25%) interest in several closely held, commercial property development [...]
Will this litigation expert ever testify again?
When the largest homebuilder in the country (TOUSA, Inc.) went bankrupt, the committee of unsecured creditors sought to recover nearly $600 million from the company’s “disastrous” refinancing deal with Citigroup bank (its advisor was Lehman Bros.). Both sides enlisted teams of valuation, real estate, restructuring, and cost/construction experts—who, for the most part, proved credible to [...]
Lack of “three approaches” gets experienced appraiser “Dauberted”
First, the federal district court found the defendants breached a twenty-year lease for a nursing home facility and owed the plaintiff/landlord over $370,000 in back rent. The landlord also claimed over $10 million in lost future payments, and presented a credentialed BV expert—the director of a valuation/litigation practice with more than 500 past valuations—to provide [...]
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