University of San Diego School of Law
Business Valuation Conference: Summit on Lack of Marketability
[Click here for hotel information]
[Click here for maps and directions]
[Click here to register for the conference]
Thursday, September 18, 2008
Joan B. Kroc Institute of Peace and Justice (IPJ)
University of San Diego
7:30-8:00 a.m.
Registration and Continental Breakfast- IPJ Rotunda
8:00-8:15 a.m.
Welcoming Remarks- IPJ Theater
Speakers:
Kevin L. Cole, Dean and Professor of Law - University of San Diego School of Law
Mel Abraham, CPA, CVA, ABV, ASA, & Past Visiting Professor- - University of San Diego School of Law
Hon. David Laro, U.S. Tax Court & Visiting Professor - University of San Diego School of Law
8:15-8:45 a.m.
Course 1: Rettig and Lewis on The Current State of Discounts in Valuation - IPJ Theater
One of the most-quoted and top IRS practioners and the National Program Manager for Valuation Programs at the IRS until a few months ago will give you their insider’s perspective of the standards—and disputes—that influence DLOM calculations and litigation now. Attendees will benefit from this first appearance before valuation experts at a public forum by Lewis since he left the Service.
Speakers:
Charles Rettig, Esq., Hochman, Salkin, Rettig, Toscher & Perez, P.C., Beverly Hills, CA
Howard Lewis, Immediate Past National Program Manager for Valuation Program-IRS
Current Executive Director, IBA
8:45-10:30 a.m.
Course 2- Part 1: The Lack of Marketability Discount:
Reconciling the Lack of Marketability Discount Theories- IPJ Theater
For the first time, practitioners can hear the opinions of the experts who have had the most influence on the calculation and practice of discounts. Hall, Abbott, Bajaj, Mercer and Vianello are at the center of the most important databases, theories, and litigation regarding the impact of marketability and liquidity on value. The moderators will search for new common ground as they share their own successes—and failures—with each approach. Attendees can expect to come away from this intense two-part session with a state-of-the-art understanding of the best thinking on how to support and sustain DLOM calculations.
Moderators:
James Hitchner, CPA/ABV, ASA, The Financial Valuation Group, Atlanta, GA
Mel Abraham, CPA, CVA, ABV, ASA, & Past Visiting Professor- - University of San Diego School of Law
Charles Rettig, Esq., Hochman, Salkin, Rettig, Toscher & Perez, P.C., Beverly Hills, CA
Speakers:
Lance S. Hall, ASA, FMV Opinions, New York, NY
Dr. Ashok Abbott, Associate Professor of Finance, University of West Virginia College of Business
Dr. Mukesh Bajaj, LECG
Z. Christopher Mercer, ASA, CFA, Mercer Capital
Marc Vianello, Vianello Forensic Consulting, L.L.C.
10:30-10:45 a.m.
Morning Break- Rotunda and front courtyard
10:45 a.m.- 12:00 p.m.
Course 2- Part 2: The Lack of Marketability Discount:
Reconciling the Lack of Marketability Discount Theories- IPJ Theater
12:00-1:15 p.m.
Luncheon and Course 3: Built-In Capital Gains Discount- IPJ Rooms B, C, & D
Porter represented the taxpayer in the Jelke case which has become one of the seminal decisions in the area of discounts.
Speaker:
Charles Rettig, Esq., Hochman, Salkin, Rettig, Toscher & Perez, P.C., Beverly Hills, CA
John Prokey, Esq., Ramsbacher Prokey, LL.P, San Jose, CA
1:15-2:15 p.m.:
Course 4: An Analysis of §2036 and the Leading Valuation Cases- IPJ Theater
Professor McCouch, co-author of Federal Estate and Gift Taxation (now in its 9th edition), will discuss the use of family limited partnerships as a value-reducing technique, with particular emphasis on recent case law applying section 2036.
Speaker:
Grayson McCouch, University of San Diego School of Law
2:15 pm - 3:15 pm:
Course 5: Family Limited Partnerships and the Unique Challenges of Supporting Discounts- IPJ Theater
Speakers:
Mel Abraham, CPA, CVA, ABV, ASA, & Past Visiting Professor- - University of San Diego School of Law
Charles Rettig, Esq., Hochman, Salkin, Rettig, Toscher & Perez, P.C., Beverly Hills, CA
James Hitchner, CPA/ABV, ASA, The Financial Valuation Group, Atlanta, GA
John Prokey, Esq., Ramsbacher Prokey, LL.P, San Jose, CA
3:15-3:30 p.m.:
Afternoon Break- Rotunda and front courtyard
3:30-4:15 p.m.
Course 7: Expert Testimony—Which Experts Qualify?- IPJ Theater
Some of the top experts in the country have suddenly found their valuation credentials—and testimony—questioned and even rejected. Judge Laro, who has presided over many of the most important valuation decisions at the U.S Tax Court, and Professor Devitt will analyze expert witness testimony and provide perspective on how to successfully testify on valuation issues in federal court.
Speakers:
Professor Michael Devitt, Professor-in-Residence, University of San Diego School of Law
Hon. David Laro, U.S. Tax Court & Visiting Professor - University of San Diego School of Law
4:15-4:50 p.m.
Course 6: Reconciling the Lack of Marketability Discount—Session 3- IPJ Theater
This session continues the focus on identifying new standards of practice and resources to support sustainable discount calculations, with particular focus on how IRS standards come into play.
Speakers:
Mel Abraham, CPA, CVA, ABV, ASA, & Past Visiting Professor- - University of San Diego School of Law
James Hitchner, CPA/ABV, ASA, The Financial Valuation Group, Atlanta, GA
Howard Lewis, Immediate Past National Program Manager for Valuation Program-IRS
Current Executive Director, IBA
4:50-5:00 p.m.
Closing Remarks- IPJ Theater
Speakers:
Mel Abraham, CPA, CVA, ABV, ASA, & Past Visiting Professor- - University of San Diego School of Law
Hon. David Laro, U.S. Tax Court & Visiting Professor - University of San Diego School of Law
5:00-6:30 p.m.
Reception- IPJ Garden of the Sea
|
