Focus on shareholder disputes (slip opinions) Ruggiero v. Ruggiero is a New York Slip Opinion (cannot cite as authority) that is a classic battle of valuation experts. The opinion highlights how a New York State judge reached her decision and also provides an opportunity to deliberate and consider what can go wrong when a buy-sell agreement is either not in existence or is considered dated. Breidbart v. Wiesenthal, another New York State Slip Opinion (cannot cite as authority), addresses how a dissolved partnership interest in New York State is valued. Although the decision is unique to New York State and the…
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Agreements that work for both death and lifetime transfers Buy/sell agreements are absolutely critical to succession planning, but are too often neglected. Even when they are set up, they are generally structured to be funded by life insurance proceeds, in the event of death, rather than company cash flow. John H. Brown explains why this can be a big mistake and how certified valuation analysts (CVAs) are in a unique position to help business owners successfully avoid common pitfalls by planning for all possible scenarios.
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“It Got a Bit Ugly” Sarah E. Needleman at the WSJ Small Business Blog reports: Ten months after co-founding a communications firm in 2008, Tami Hausman asked her business partner to meet at a local Starbucks. Things weren’t working out, Ms. Hausman says, and she wanted to run the New York company on her own.
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Why Choosing Good Counsel to Help with Exit Planning Can Be the Most Important Decision a Business Owner Makes Venture Resources believes many business owners don’t fully appreciate the complexities and factors that are present in the deal structuring and business selling process, including understanding how to project the company’s future, applying alternate deal structures, and maximizing current business potential. Here are some tips.