Creative Settlement Strategies for Real Property Damages In challenging financial and operational times, parties need more creative tools than ever before to reach settlement and bring swift resolution before issues can become protracted litigation. Particularly in the realm of real estate and environmental damages, where mass tort and class action lawsuits are common and the stakes can be very high, Value Assurance Programs and other solutions that leverage settlement funds and create opportunities for collaboration rather than conflict should be in every litigator’s repertoire. In challenging financial and operational times, parties need more creative tools than ever before to reach…
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What is Your Case Worth Today? What is the value of a contested estate? In this article, the author shares her insight and discusses two leading U.S. Tax Court cases in this area, Estate of Lennon and Estate of Foster.
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Wells Fargo has put an end to a well-publicized fight with a former retail bank manager who blew the whistle on its sham-accounts scheme that ultimately affected 3.5 million Americans. Both sides say they reached a settlement this month, though its terms are confidential. The agreement signals a possible shift in legal strategy for Wells as it appears to be the first instance in which the bank has voluntarily ended one of its lengthy fights with any of the whistleblowers it fired after they spoke up about the creation of fake accounts. To read the full article in FinancialPlanning, click:…
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Opportunities for Valuation Pros The widespread destruction left in the path of Hurricanes Harvey, Irma, and Maria provides ample ground and opportunities for CVA professionals to assist the public. In this article, the author, a CVA, details those opportunities.
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What do You Have to Lose? Since only a fraction of the cases filed go to trial, it seems prudent to explore settlement sooner rather than later. It is not rocket science, and statistics support the claim that the earlier a case settles the lower the expense to achieve that settlement. If this is not enough to encourage someone to consider mediation sooner rather than later, then perhaps recent court statistics will. Although the trend over the past few years has shown a decline in the total number of filings, the cost and length of time to resolution has increased.…
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Analysis of Unaudited Financial Statements—Who and How? There has been much discussion within the ESOP community about the “settlement” and its reverberations. As readers are likely aware, the settlement in question refers to the 2014 settlement agreement between GreatBanc Trust Company and the United States Department of Labor (DOL). The terms of the settlement include, among other things, an agreement concerning fiduciary engagements and process requirements for employer stock transactions. The settlement provides pause for thought for all trustees and their advisors, as the agreement can be viewed as a “playbook” that, if followed, could serve as evidence that the…
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Part III of III This is Part III of a three-part series discussing the basic components of a professional liability lawsuit brought against an accounting firm and its partners, and factors a firm’s managing partner should consider before and during this type of litigation for utilizing applicable insurance coverage, maximizing effectiveness of defense, and, where possible, bringing the controversy to conclusion by settlement. Part I covered the current litigation environment for accounting firms, relevant provisions in engagement letters, responding to subpoenas, professional liability insurance, and the risk of instigating a professional liability counterclaim in a fee collection action. Part II…
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Understanding the Magic Mediation is an exceedingly simple and yet extremely powerful dispute resolution process. Principles, process, and prerequisites coalesce to produce the magic of mediation. Those understanding the essential three “P’s” of mediation benefit by becoming better negotiators, thus producing more satisfying results and enjoying higher settlement rates.
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Tips for Selecting a Mediator Mediation provides an alternate means of resolving disputes. But how effective is mediation? Who should use mediation? In this article, Nancy Neal Yeend answers these questions and offers key points to consider when selecting a mediator.
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How to Maintain Independence and Professionalism in a Complex and Changing Niche As divorce laws change, attorneys increasingly rely on financial experts such as business appraisers and forensic accountants. In this article, Robert D. Feder discusses the role of a financial analyst in the context of matrimonial law. He also covers some of the potential pitfalls of the trade.
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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