Hello
Welcome to the sixteenth issue of Valuation and Litigation Insights! We bring you hand-picked content related to business valuation and litigation intended to help you and your clients get better results.
I hope you are enjoying the holidays. This is without a doubt my favorite time of year.
And I love the period between Thanksgiving and Christmas. People are working, of course, but mostly not at full-bore – which is why, ahem, this publication only came out once this past month. It is the holidays, after all…a time to appreciate time spent with friends and family and to enjoy the lights, food, and all-around happiness of the season.
Here are a few quotes that might put you in the holiday spirit:
“Santa Claus has the right idea. Visit people once a year.” —Victor Borge
“Christmas is a baby shower that went totally overboard.” —Andy Borowitz
“What I don’t like about office Christmas parties is looking for a job the next day.” —Phyllis Diller
“It’s that’s special time of year when your whole family gathers together in one place to look at their cellphones” – Jimmy Kimmel
“I once bought my kids a set of batteries for Christmas with a note on it saying ‘toys not included.'” —Bernard Manning
“The one thing women don’t want to find in their stockings on Christmas morning is their husband.” – Joan Rivers
“Christmas: the only time of year you can sit in front of a dead tree eating candy out of socks.” – Unknown
“Why is Christmas just like a day at the office? You do all the work and the fat guy in a suit gets all the credit.” – Unknown
“I love Christmas. I receive a lot of wonderful presents I can’t wait to exchange,” – Henny Youngman
On to this issue.
COVID-19 is unfortunately still a topic of interest. We start with a recent COVID-related damages case where the court once again sided with the insurer.
Lost profits cases that need to consider the impact of COVID-19 are on the rise. The delayed post-pandemic recovery may require experts to think out-of-the-box.
Can an expert delegate due diligence? If so, how much?
What should you expect to see in a professionally-prepared business valuation report? We share a useful checklist.
What should a business valuation expert do and not do on the stand? This article summarizes key things to know.
Hope you enjoy this issue and find it useful!
Valuation and Litigation Insights
News and Trends
Court Grants Company’s Motion to Dismiss
COVID-19-related damages cases are making their way through state and federal courts.
Plaintiffs are typically businesses that have suffered economic losses because of various mandatory shutdowns.
Who is winning -- businesses or the insurance company defendants?
This recent case is consistent with the trend where courts have tended to side with insurance companies, denying claims due to lack of direct physical impact on the premises.
filler.com
Lost Profits and COVID-19
Lost profits cases that need to consider the impact of COVID-19 are on the rise.
This article shows that the delayed post-pandemic recovery may require the expert to consider some unusual scenarios when computing damages.
quickreadbuzz.com
Things to Know
Providing Expert Testimony in Business Valuation
Providing effective testimony in business valuation is not easy.
This article summarizes key points from a webinar on the topic by valuation thought leader Jim Hitchner. It provides some extremely useful tips on what an expert needs to know and what one needs to do and avoid doing.
Great information for both experts and those who hire or challenge them.
quickreadbuzz.com
Can an Expert Delegate Due Diligence?
An expert that does not delegate at least some aspects of his/her work can be inefficient, expensive, and not effectively leveraging his or her time.
But at the same time, you want your expert to have personal knowledge of key facts driving and supporting a case.
So what's the balance? What tasks can be delegated and what cannot when it relates to due diligence?
This article provides some insight into this sensitive topic.
quickreadbuzz.com
10 Tips for Business Valuation Report Writing and Standards Compliance
What should you expect to see in a professionally-prepared business valuation report?
Why not look at what the valuation professionals themselves consider to be the key do's and don'ts?
This checklist provides a good reference for reviewer and writer alike.
bvresources.com
In Closing
That's it for now. If you found this issue of Valuation and Litigation Insights useful, please forward it to a friend or colleague.
And if you have a valuation or damages-related issue you would like to discuss, you can reach me one of the ways below.
Talk to you soon!
Will
William W. Thomsen
Director of Valuation and Litigation Services
Grobstein Teeple, LLP
www.gtllp.com
Call me at 818-502-4950
Valuation and Litigation Insights