Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Expert Valuation Reports
As discussed last month, there are various reasons why valuation services are employed, including litigation, transactions, compliance-oriented and planning-oriented engagements. Likewise, there are two types of engagements:
- Valuation engagements ' These are generally undertaken for purposes of estimating the value of a subject interest. Here, appraisers are free to apply valuation approaches and methodologies deemed appropriate in the circumstances and the engagement results in a conclusion of value (i.e., opinion of value).
- Calculation engagements ' These are undertaken when the appraiser and the client agree on the valuation approaches and the methods to use and the procedures to be performed. A calculation engagement does not include all procedures required for a valuation engagement. The value of the subject interest is calculated in compliance with the agreement between the appraiser and the client and is expressed as a range or a single amount.
The Basics
Valuations must be based on what was known or knowable, or was reasonably anticipated, at the valuation date. Subsequent events (i.e., conditions that were not known or knowable and/or events that arose subsequent to the valuation date) can be disclosed in the valuation report but are not foundational as to the opinion expressed. SSVS-1 paragraph 43 and IBA paragraph V.C.1.(12) state that in circumstances where events may be of such nature and significance that disclosure of such events may be warranted for informational purposes only, the events do not affect the determination of value at the valuation date. USPAP Statement 3 addresses retrospective appraisals and allows for data subsequent to the effective date to be considered as a confirmation of trends that would reasonably be considered by a buyer or seller as of that date.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.