• Litigation Consulting - QuickRead Top Story

    The Case for Out-of-Court Winddowns

    January 14, 2026

    A Comparison to a Bankruptcy Proceeding and Views from the Various Stakeholders When a business faces insolvency, the path forward is rarely straightforward. This article examines the reasons why out-of-court winddowns may be a preferred alternative over bankruptcy for private equity sponsors, lenders, and boards of directors. Introduction When a business faces insolvency, the path forward is rarely straightforward. Should the company file Chapter 11 in hopes of reorganizing? Should it liquidate under Chapter 7? Would an assignment for the benefit of creditors (ABC) or a court-appointed receivership make more sense? These options dominate conversations around distressed businesses, but they…

  • QuickRead Top Story - Valuation/Appraisal

    Best Practices for Bankruptcy-Related Property Appraisals

    September 28, 2022

    Part II of IV This article is part two (read Part I here) of a four-part series related to the bankruptcy-related appraisal of industrial and commercial company real estate and real property, tangible personal property, and intangible personal property. Part one of the series considered all of the reasons why a valuation specialist in any appraisal discipline (herein called an “appraiser”) may be retained to value the debtor company property within a bankruptcy context. This article considers what the appraiser, the client, and the client’s legal counsel need to know about the bankruptcy appraisal assignment and process. Introduction This article…

  • Case Law - QuickRead Featured

    U.S. Tax Court Update

    March 24, 2016

    Notable 4th Quarter 2015 Cases, Part II of II Part II of this article highlights the remaining notable 4th Quarter 2015 U.S. Tax Court Cases that will be of interest to valuation practitioners and business advisors.  Estate of Purdue reminded us that taxpayers need to address 2036(a) concerns and establish a non-tax reason.  In addition, the case reminds us that gifting an equity or LLC interest may not qualify as a present interest for gift tax purposes.  Estate of Newberger involved the proper valuation of artwork, yet its holding is applicable to a business valuation opinion.  Sumner Redstone v. Commissioner…

  • Case Law - QuickRead Featured

    U.S. Tax Court Update

    March 16, 2016

    Notable 4th Quarter 2015 Cases, Part I of II Part I of this article highlights notable 4th Quarter 2015 U.S. Tax Court Cases that will be of interest to valuation practitioners and business advisors. Estate of Purdue reminds us that taxpayers need to address 2036(a) concerns and establish a non-tax reason. In addition, the case reminds us that gifting an equity or LLC interest may not qualify as a present interest for gift tax purposes. Estate of Newberger involves the proper valuation of artwork, yet its holding is applicable to a business valuation opinion. Sumner Redstone v. Commissioner involves a…

  • Intellectual Property - QuickRead Featured - QuickRead Top Story

    Intellectual Property Valuation for Bankruptcy Purposes

    March 18, 2015

    Part I: Three of the 12 Reasons a Valuation Is Needed in Chapter 7, 9, and 11 This two-part article summarizes the various types of intellectual property that valuation analysts (“analysts”) may encounter within a commercial bankruptcy controversy, lists the generally accepted intellectual property valuation approaches, and presents the reasons why analysts may be asked to value intellectual property within a commercial bankruptcy environment. In Part I, Mr. Reilly identifies three of the 12 reasons why a valuation is needed in a bankruptcy proceeding.

  • Litigation Consulting - QuickRead Featured

    Digging the Hole Deeper

    December 5, 2012

    What Happens When a Business is In Over Its Head and Who is to Blame? When firms approach bankruptcy, a definition of what constitutes “deepening insolvency” becomes critical in establishing the legitimacy of litigation concerning damages, breach of fiduciary duty, and more. Michael J. Molder explains context, consequences, and case law on the matter.

  • Case Law - QuickRead Featured

    Federal Law Cases Review Mortgages, Broker Price Opinions

    October 17, 2012

    A Credit Card Debt is Settled, But Tax on DOI Income Still Due Judge Ruwe at the Tax Court finds petitioners owe tax on income from a settled credit card debt in Shepherd v. Commissioner, and a U.S. Bankruptcy Court for the Western District of Pennsylvania rules on the valuation of a mortgagee’s creditor’s secured claim in Buena Vista Oceanside, LLC., v. Optimum Bank