Spring 2005
- IPOs do not generally create liquidity opportunity -- DLOM still valid for controlling interests
- Buy-sell agreement’s terms dismissed, effect discounted
- Unopposed but incomplete evidence of value is not enough to support verdict
- Inadequate valuation report disregarded
- Lack of reliable valuation ends in forfeit of issue
- Enterprise goodwill, personal goodwill distinguished
Summer 2005
- Going concern premise is the way to value interest of wrongfully departing minority partner where business continues to term
- Nebraska Supreme Court allows goodwill as an asset in a professional corporation
- Chancery court charts own course in appraisal action
- Court rejects DCF and uses comparable public company method
- Court finds fraudulently operated companies difficult to value
Fall 2005
- Management overlay must be factored into valuation of an affiliated entity
- Analysis leads chancery court to seek its own valuation
- Transfers of stock to business trusts not included in descendent's gross estate
- Husband's earlier sale valuation damages his later divorce valuation
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