The Michel-Shaked Group’s Israel Shaked, and Brad Orelowitz published an article in the February 2022 issue of the American Bankruptcy Institute Journal discussing beta, the measure of a company’s systematic risk, and its application to valuation. The article describes how to calculate beta and situations...
Retained by the Official Committee of Unsecured Creditors of Chesapeake Energy Corporation, The Michel-Shaked Group led by Israel Shaked and Stephen Kempainen, provided consulting and expert testimony regarding the valuation of Chesapeake Energy Corporation upon the company’s expected emergence from bankruptcy. The case was tried...
The importance of the discount rate, and the sensitivity of valuation conclusions to even small changes in the discount rate, requires increased scrutiny of discount rate assumptions by all parties to the dispute. In normal times, it is important for a valuation professional to bring...
In a bankruptcy, financial projections play a significant role in many different aspects of the process. In many cases, the Court’s preference is to rely on management’s projections, as management usually has vast experience within the company. However, there are instances where projections produced...
The Michel-Shaked Group, led by Stephen Kempainen, together with affiliated expert Valerie Davisson, provided consulting and expert testimony regarding disclosures made by solar panel manufacturer First Solar, Inc. (Nasdaq: FSLR). After years of litigation and shortly before the trial was to commence, First Solar...
This week, Israel Shaked and Paul Dionne had the privilege of presenting to the Securities Litigation Committee of the New York City Bar Association. The presentation focused on key issues related to the cross examination of a financial expert in a securities litigation....
This week, Israel Shaked and Paul Dionne had the privilege of presenting to the Securities Litigation Committee of the New York City Bar Association. The presentation focused on key issues related to the cross examination of a financial expert in a securities litigation....
In a bankruptcy, financial projections play a significant role in many different aspects of the process. In many cases, the Court’s preference is to rely on management’s projections, as management usually has vast experience within the company. However, there are instances where projections produced...
The Michel-Shaked Group’s Israel Shaked (Managing Director) and Paul Dionne (Manager) discuss what quantitative bankruptcy prediction models are and how the discretion given to the financial expert applying these methodologies can lead to the abuse of the models in both bankruptcy and tax litigation settings....
In August 2018, the United States Tax Court filed its opinion on Illinois Tool Works Inc. & Subsidiaries (Petitioner) v. Commissioner. The Court ruled in favor of the Petitioner on all issues and determined that the intercompany loans were bona-fide debt for tax purposes....