Two Major Approaches Adopted by Courts Assessing Claims This article discusses the challenges that COVID-19 and other recent catastrophes present when calculating business interruption claims. It surveys the two common approaches adopted by courts, examines their outsized impact on an insured’s recovery, and discusses how the influx of new decisions will change the business interruption landscape. It also a ...

End of Life or Another Day at the Office? One of the most concerning communications for experts to receive from a hiring attorney is the opposing attorney has filed a Daubert motion to exclude their opinion. Going through a Daubert challenge is stressful for even experienced experts. This article will discuss the Daubert decision and its impact on experts. It will also address questions considered by courts ...

Show Your Workings! Many engagements to determine or rebut a lost wages claim include many elements established by the expert. This article focuses on the tax aspects of an award, specifically, how should the plaintiff receive a tax component award and, if so, how should this award be calculated. Many engagements to determine or rebut a lost wages claim (in an alleged wrongful termination, improper denial o ...

Three Experts Convene to Answer and Discuss Pressing BV Issues On March 1, 2022, Jim Hitchner hosted a webinar that featured Michelle Gallagher and Z. Christopher Mercer. While the respective speakers provided some questions in anticipation of the webinar, the audience sent questions and these were answered. The unscripted webinar provided attendees an opportunity to assess what was foremost in the mind of ...

Changes in the Methods of Dispute Resolution In this article, Steven I. Platt, a retired Maryland Circuit Court judge, founder of The Platt Group, Inc., and QuickRead’s newest editorial board member, shares with readers the changes he sees affecting civil court proceedings, rise of alternative dispute resolutions, and opportunities that are becoming available to credentialed business valuation and financial ...

Assess the Extent of Real or Attributed Power and Consider the Source of Power to Develop a Negotiation Strategy Power, whether real or perceived, can influence negotiations, and comes from several sources: privilege, intimidation, withholding resources, etc. When preparing for a meeting with others to resolve a controversy or dispute, it is important to consider the power sources of all the participants. T ...

What Forces Drive the Competition in the Industry? The author of this article shares his thoughts on the book, Competitive Strategy: Techniques for Analyzing Industries and Competitors. This was a book he had read sections of during his university days, but this time around, read it with a new vantage point considering his education and experiences since then; particularly in the business valuation field. H ...

Revisiting the Energy Capital Corp. v United States Case Causation It is important for the research and literature in our field to advance. Books, articles, and presentations help us improve and perfect the work we provide to the courts. It is also important that we review the history of our field to remind us “why we do things the way we do.” When reviewing the Energy Capital Corp. v United States case, fi ...

A Review of Everett P. Harry, III and Jeffrey H. Kinrich’s 2022 Second Edition In 2017, Everett P. Harry, III and Jeffrey H. Kinrich released Lost Profits Damages: Principles, Methods, and Applications. Their purpose in publishing the book was to provide a comprehensive reference guide to cover important topics relevant to determination of lost profit damages. This book review discusses the second edition r ...

Citation Omitted What makes the world of expert witness services so daunting at times is the fact that so much goes unsaid, untaught, or undefined. For example, the most recent international glossary used by valuation and appraisal professionals across the globe does not define what a conclusion or opinion is. Since saying the silent part out loud seems to be the popular thing to do, this tenth article of t ...

Delicate Balancing (and a Backbone) Required Rarely does a week pass in white collar and investigation or SEC-regulatory outside counsel life that an auditor or government enforcement attorney does not request some form of interim or final read-out or update. These requests for information can encompass investigative process and factual findings, lists of search terms, interview outlines, or similar investi ...

Ask the Right Questions to Elicit the Information Needed for the Story Those that cross-examine and have been cross-examined understand that the questions are intended to elicit information or develop a story that fits their client’s version of events. There is a strategy and, in this article, the author shares how that is accomplished. So, what is the big deal about asking questions? You just say, "Why did ...

A Fair Payout or a Disaster Waiting to Happen In 2020 alone, approximately 7,300 companies filed for Chapter 11 bankruptcy. Of those corporate debtors, 42 were found to have awarded pre-bankruptcy retention bonuses to a total of 223 executives, with the bonuses totaling approximately $165 million. These pre-bankruptcy bonuses were given to executives anywhere from five months to two days before the filing. ...

To Create a Visual Picture Every profession has its own unique vocabulary, and although everyone in the field understands the terms or abbreviations, the public most likely does not. An easy way to help people understand technical terms or a profession's distinctive vocabulary is to create a “word picture” that links that unique word to some everyday idea or object. The author suggests that metaphors and si ...

A Unique Take on Causation Experts are becoming aware of how the COVID-19 pandemic has affected lost profit analyses that include 2020 and 2021. The pandemic and the slow recovery have created separate causations which may or may not become the proximate cause of a damaged business’ loss. For this reason, the effects of COVID-19 must be considered as an alternative causation to lost profits. The lockdowns a ...

The Pursuit of Equitable Relief, Separation of Liability, and/or Innocent Spouse Relief The consideration of innocent spouse relief, separation of liability, and equitable relief remedies are important to understand and consider for the purposes for which they were created. This article presents the different options and when one option may be more fitting than another and the relief accorded under each. Th ...

Avoiding the Chaos and Selecting the Proper Methodology Over the past 20 years, business valuation analysts (and the courts) have debated whether there is an S corporation premium vis-à-vis the C corporation. This debate has led to the profusion of models and confusion. Four predominant models currently in use include: the Fannon, Delaware MRI, Van Vleet’s SEAM, and Treharne Model. Each of these models make ...

Natural Disasters and Claims Submission Best Practices This article’s purpose is to alert practitioners to potential issues that may arise during the claims process as it relates to damages suffered from a catastrophic event, other than COVID-19, during the ‘pandemic economy. Readers need to be aware of and distinguish the two events when filing a claim. Because the influence of the ‘pandemic economy’ on bu ...

From Beginning to End The authors of this article discuss what happens when credit card data is stolen and personal identifiable information is stolen. They recount how this information is used and sold on the dark web and the issues that arise when damages are claimed. The case of Target Corporation Data Security Breach Litigation, Attias et al. v. Carefirst, Inc., and Wawa provides context and insight on ...

Reasons for Failed Negotiations There are many reasons for failed negotiations. Emotion is often a reason that people cannot resolve their differences. When individuals are highly emotional, they lose the ability to think clearly and to fully evaluate the risks in continuing the controversy. Pride, ego, vengeance, and many other factors combine and contribute to creating negotiation roadblocks. Many of thes ...