Insights

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 agreed to pay $350 million to settle the class action lawsuit....

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 by a company’s management are not reliable....

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. Michel-Shaked Group's experts represented the Petitioner....