A sampling of new case digests and court opinions added to BVLaw


These are some of the new cases involving testimony and reports by financial experts included in the BVLaw database:

Howard v. United States, 2011 WL 3796723 (C.A.9 (Wash.))(Aug. 29, 2011)

Ninth circuit upholds finding that a non-competition agreement effectively conveyed a dentist’s personal goodwill to his C corporation, such that it became the corporation’s asset for income tax purposes.

Experts:  none

Judge:  Clifton, Smith, and Korman

State/Jurisdiction: federal/Ninth Circuit

Court: U.S. Court of Appeals for the 9th Circuit

Type of case: federal tax

SIC Code: 8021 Offices and Clinics of Dentists

Estate of Turner v. Commissioner, 2011 WL 3835663 (U.S. Tax Court)(Aug. 30, 2011)

Tax Court includes full value of family limited partnership assets in the gross estate after finding that their nature (passive investments in cash and marketable securities) provided no legitimate, nontax reason for their consolidation or management.

Experts: Willis Investment Counsel

Judge:  Marvel

State/Jurisdiction: federal

Court: U.S. Tax Court

Type of case:  federal tax

SIC Code: 6733 Trusts, Except Educational, Religious, and Charitable (personal trusts, estates, and agency accounts)

AmBase Corp. v. United States, 2011 WL 3891942 (Fed. Cl.)(Aug. 31, 2011)

Federal Court of Claims accepts market value approach to valuing failed thrift in Winstar case, and rejects Gordon Growth model for failing to account for bank’s unstable earnings and its alternative investment opportunities in a “non-breach” world.

Experts: Charles Calomiris (plaintiffs); Anthony Saunders and Roy Smith (defendant)

Judge:  Smith

State/Jurisdiction: federal

Court: U.S. Federal Court of Claims

Type of case:  Winstar

SIC Code:  6036 Savings Institutions, Not Federally Chartered

In re Marriage of Hashemian, 2011 WL 3873861 (Cal. App. 4 Dist.)(Sept. 2, 2011)(unpub.)

California approves excess earnings and “formula” approach to valuing atypical life insurance firm, based on industry compensation and revenue data.

Experts: Glenn Mehner (joint expert); Philip Lieberman (husband) and Christopher Erwin (wife)

Judge: Moore

State/Jurisdiction:   California

Court: Court of Appeals

Type of case:  marital dissolution

SIC Code: 6311 Life Insurance (life insurers-direct)


Categories