Acerca de este artículo

Product Identifiers

PublisherWiley & Sons, Incorporated, John

ISBN-100470462388

ISBN-139780470462386

eBay Product ID (ePID)73492777

Product Key Features

Number of Pages272 Pages

Publication NameBusiness Valuation and Bankruptcy

LanguageEnglish

Publication Year2009

SubjectBankruptcy & Insolvency, Corporate Finance / Valuation

TypeTextbook

Subject AreaLaw, Business & Economics

AuthorIan Ratner, John C. Weitnauer, Grant T. Stein

SeriesWiley Finance Ser.

FormatHardcover

Dimensions

Item Height1 in

Item Weight16.4 Oz

Item Length9.3 in

Item Width6.3 in

Additional Product Features

Intended AudienceScholarly & Professional

LCCN2009-025212

Dewey Edition22

Series Volume Number521

IllustratedYes

Dewey Decimal658.15

Table Of ContentPreface ix Chapter 1 Introduction 1 The Troubled Company Continuum 1 Operational and Financial Disstress 3 The Troubled Company Response 3 Valuation in Reorganization or Bankruptcy 5 Conclusion 6 Chapter 2 Industry Practitioners and Standards 7 Professional Organizations and Business Valuation Standards 7 Business Valuation Practitioners and Certifications 14 Conclusion 19 Notes 19 Chapter 3 The Basics of Business Valuation 21 The Purpose of the Valuation 21 Standard of Value 22 Premise of Value--Going Concern or Liquidation 23 Valuation Approaches 25 Fundamentals 29 Conclusion 38 Notes 38 Chapter 4 Income Approach 39 Discounted Cash Flow Method 41 Capitalized Cash Flow Method 57 Conclusion 58 Note 59 Chapter 5 Market Approach 61 Guideline Company Method 61 Comparable Transaction Method 73 Conclusion 81 Chapter 6 United States Bankruptcy Code 83 Introduction to the Structure of the Bankruptcy Code 83 Commencement of a Bankruptcy Case and Filing of Schedules 84 Chapter 7 of the Bankruptcy Code 85 Chapter 11 of the Bankruptcy Code 85 Avoiding Powers under the Bankruptcy Code--Preferences 94 Avoiding Powers under the Bankruptcy Code--Fraudulent Transfers 95 Valuation Principles from the Bankruptcy Courts 95 Conclusion 96 Notes 96 Chapter 7 Valuations in Bankruptcy as of the Date of the Hearing 97 Introduction 97 Relief from the Automatic Stay and Adequate Protection 98 § 363 Sales 100 Use of Cash Collateral 105 Disclosure Statement 105 Plan Confirmation--Feasibility 105 Plan Confirmation--Best-Interests-of-Creditors Test 106 Plan Confirmation--Cram Down 106 Conclusion 111 Notes 111 Chapter 8 Valuations in Bankruptcy at a Time in the Past--Avoidance Actions 121 Overview 121 Avoidance Actions--Preferences 121 Avoidance Actions--Fraudulent Transfers 123 The Applicable Legal Tests for Insolvency 128 Insolvency Test: Valuation of Debts 129 Insolvency Test: The Valuation of Assets 132 Proof of Insolvency by Retrojection 135 The Insolvency Test: Comparing Assets and Debts 135 Is the Public Market's Assessment in the Past Conclusive Proof of Solvency, Even If the Company Later Fails? 135 Use of Hindsight in the Valuation Process 136 Conclusion 143 Notes 143 Chapter 9 Solvency Opinions 149 Introduction 149 Who Uses Solvency Opinions? 149 Solvency Opinion Preparation 151 Solvency Metrics 153 Case Studies 155 Conclusion 157 Notes 157 Chapter 10 Daubert 159 Challenges to Experts or Their Testimony 159 Lack of Relevance 171 Practical Lessons from Daubert Cases for Experts and Lawyers 171 Conclusion 173 Notes 173 Appendix AICPA Statement on Standards for Valuation Services No. 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset 179 Index 255

SynopsisAn essential guide to business valuation and bankruptcy Business Valuation and Bankruptcy helps you-whether you are an accountant dealing with a troubled company, a lender, an investor, a bankruptcy and restructuring lawyer/financial advisor, or a private equity player-to focus on solving everyday and case determinative disputes when creditors, lenders, and debtors have differing views of value. Introducing valuation issues early on in the restructuring/bankruptcy process so you can plan accordingly, this book offers Many real life case examples, case descriptions, and tables to demonstrate the applicable sections of the Bankruptcy Laws A review of the methods, applications, pros and cons of restructuring with the basic tools to understanding it A description of the life cycle of a troubled company and the various stages of a restructuring An analysis of the valuation issues that confront practitioners in the real world of application of the law Business Valuation and Bankruptcy is written in terms that are common to bankruptcy professionals and is essential, timely reading for players in the bankruptcy and restructuring environment., Praise for Business Valuation And Bankruptcy "For the restructuring lawyer or anyone else seeking a cogent and accessible exposition of the first principles of valuation and how valuation issues fit in the bankruptcy process, this timely and clearly written book is the natural place to turn." Professor Douglas G. Baird, The University of Chicago Law School, Scholar in Residence for the American College of Bankruptcy "There are no easy business valuation issues in bankruptcy. However, armed with this treatise, bankruptcy professionals and courts can confront the valuation challenges in a thoughtful and deliberate manner. I found this book a remarkable effort in addressing the issues presented in distressed business valuations. The work is thoughtful, broad in scope, detailed in areas where necessary, and a substantial contribution to the literature. I was especially impressed that the book has much to offer to attorneys, judges, and valuation professionals. I highly recommend the work to any serious student of business valuations in bankruptcy." Professor Jack F. Williams, Georgia State University College of Law, author, lecturer, and American Bankruptcy Institute Resident Scholar "An excellent guide to the wide variety of valuation issues that professionals face on a daily basis, in the insolvency world. This work provides us with a wide range of analyses, taking us from the initial stages of an engagement, determining a companys viability, up through the entire insolvency process. An essential tool for any bankruptcy professional" John Ames,Greenbaum Doll & McDonald PLLC,President, American Bankruptcy Institute (2007 2009) "I have read several books on valuation principles and theory. Business Valuation and Bankruptcy is by far the best written, best organized, and most approachable. The valuation methodologies and theories are explained in plain language, and the inclusion of the application of those methodologies and theories to the Bankruptcy Code and reported cases is immensely helpful. I have asked our entire Business Reorganization Team to read Business Valuation and Bankruptcy , and I intend to keep it handy as a reference." Paul Steven Singerman, Berger Singerman, former chair of the Florida Bar Bankruptcy Commitee, There are many participants in the troubled company arena and all of them have a need to be better informed.

LC Classification NumberHG4028.V3R37 2010