Chapter 1 Introduction.
The Troubled Company Continuum.
Operational and Financial Disstress.
The Troubled Company Response.
Valuation in Reorganization or Bankruptcy.
Chapter 2 Industry Practitioners and Standards.
Professional Organizations and Business Valuation Standards.
Business Valuation Practitioners and Certifications.
Chapter 3 The Basics of Business Valuation.
The Purpose of the Valuation.
Standard of Value.
Premise of Value - Going Concern or Liquidation.
Chapter 4 Income Approach.
Discounted Cash Flow Method.
Capitalized Cash Flow Method.
Chapter 5 Market Approach.
Guideline Company Method.
Comparable Transaction Method.
Chapter 6 United States Bankruptcy Code.
Introduction to the Structure of the Bankruptcy Code.
Commencement of a Bankruptcy Case and Filing of Schedules.
Chapter 7 of the Bankruptcy Code.
Chapter 11 of the Bankruptcy Code.
Avoiding Powers under the Bankruptcy Code – Preferences.
Avoiding Powers under the Bankruptcy Code - Fraudulent Transfers.
Valuation Principles from the Bankruptcy Courts.
Chapter 7 Valuations in Bankruptcy as of the Date of the Hearing.
Relief from the Automatic Stay and Adequate Protection.
§ 363 Sales.
Use of Cash Collateral.
Plan Confirmation – Feasibility.
Plan Confirmation – Best Interests of Creditors Test.
Plan Confirmation – Cram Down.
Chapter 8 Valuations in Bankruptcy at a Time in the Past - Avoidance Actions.
Avoidance Actions – Preferences.
Avoidance Actions - Fraudulent Transfers.
The Applicable Legal Tests for Insolvency.
Insolvency Test: The Valuation of Debts.
The Insolvency Test: Valuation of Assets.
Proof of Insolvency by Retrojection.
The Insolvency Test: Comparing Assets and Debts.
Is the Public Market's Assessment in the Past Conclusive Proof of Solvency, Even If the Company Later Fails?
Use of Hindsight in the Valuation Process.
Chapter 9 Solvency Opinions.
Who uses Solvency Opinions?
Solvency Opinion Preparation.
Chapter 10 Daubert.
Challenges to Experts or Their Testimony.
Lack of Relevance.
Practical Lessons from Daubert Cases for Experts and Lawyers.
AICPA Statement on Standards for Valuation Services No. 1, Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset.