Alternative Benchmarks for Use in Litigation in Light of LIBOR’s End

Appraisal and litigation support professionals consider various rates to use as part of a financial model, including LIBOR.  Near the end of July 2017, British banking regulators made waves in the business world by announcing the end of the London Interbank Offered Rate, or LIBOR, by the end of 2021.  LIBOR’s end will mean the loss of a financial benchmark that is not only ubiquitous in commerce, but a valuable tool in creating discount rates in financial litigation.  Fortunately, the Alternative Reference Rates Committee (ARRC), organized by the Federal Reserve, has already identified alternative benchmarks, which should prove helpful as substitutes in creating damages models after LIBOR becomes unavailable.

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Empathy at the Mediation Table: Understanding Another Person’s Point of View—A Fundamental Tool of Communication

Empathy, when used appropriately is truly amazing.  It strengthens and enriches our understanding of others, and enhances our ability to motivate them.  Though there is no scientific way to measure the power of empathy, you can feel it when you use it, especially during mediation-type proceedings, when the opposing parties are frozen in their positions on opposite sides of the dispute.  In this article, Judge Caprathe shares techniques used to show empathy and how these have helped him mediate conflicts.

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Financial Litigation and Expert Witness SuperConference
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Fleming Cardiovascular, P.A. v. Commissioner: Qualified Business Appraiser and Appraisal Needed

A November 2015 memorandum by the U.S. Tax Court in Fleming Cardiovascular, P.A. v. Commissioner found that the Internal Revenue Services (“IRS”) did not abuse its discretion in revoking the Fleming Cardiovascular, P.A. Employee Stock Ownership Plan’s (“ESOP”) qualified and tax exempt status for failure to operate in accordance with plan documents. Of note, the ESOP failed to obtain an independent annual valuation of the stock by a qualified appraiser in five out of seven plan years.

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Providing Effective Litigation Services: Professional accounting valuation accrediting standards for effective litigation

In this second part of his four-part series, Mark Shirley, CPA/ABV, CVA, CFFA, CFE, focuses on complicated professional standards. Here, the article examines AICPA’s Code of Professional Conduct and Statement on Standards for Consulting Services (SSCS), which sets forth the scope and limitations of practice. While the AICPA has not promulgated litigation reporting standards, it has incorporated a judicial exception in SSVS and issued at least two non-authoritative Consulting Services Practice Aids addressing effective litigation services.

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