State Court

Dr. Feldman has appeared in multiple state court jurisdictions. The focus of these engagements is to determine the fair value of the equity of a private business. In a recent testimony, Dr. Feldman demonstrated to the court, that the value of a business can be significantly reduced by a substantial unfunded pension liability, even if the liability does not appear on the balance sheet.

Tax Court

During testimony, Dr. Feldman demonstrated to the court that his client’s captive insurance program was not an attempt to evade taxes, but rather, a program that insured real risks with premiums that were generally consistent with these risks. The case involved a family of companies, in construction, development, and real estate management, which were exposed to a variety of risks that were difficult to insure in the commercial market.

Bankruptcy Court

Axiom Valuation Solutions was engaged to determine the fair market value of highly illiquid financial securities. These securities were the assets of a securitization that was making only partial payments to its creditors. One of the creditors filed an action in federal bankruptcy court to put the entity into Chapter 11.

Consulting

A sample of Dr. Feldman’s consulting assignments include:

• Valuing a software professional services firm and its derivatives securities for the purpose of valuing warrants
• Assessing the elements of value of a consulting firm between the firm’s databases and models and its principals
• Determining the value of a residual disability claim for a professional practice
• Determining financial liability in a breach of contract lawsuit
• Estimating the value of a term contract to provide Internet services
• Estimating the impact on firm value as a result of improving environmental performance
• Determining the impact of corporate environmental practices on business value
• Determining the private value of public assets
• Determining the value of a contract for dumping fees with a triggered payout system