Stan Bernstein, Susan H. Seabury, Jack F. Williams
The Honorable Stan Bernstein, Susan H. Seabury, and Professor
Jack F. Williams provide the issue's fifth article, Squaring
Bankruptcy Valuation Practice With Daubert
Demands. This piece studies the issue of how
bankruptcy courts manage expert testimony on valuation. The
article addresses the Supreme Court decision in Daubert v.
Merrell Dow Pharmaceuticals, Inc., which sets forth new
guidelines for federal courts when dealing with expert valuation
testimony. The authors then examine valuation tools utilized
by experts in bankruptcy cases and design a system to address the
relevance and reliability concerns discussed in
Daubert. Finally, the authors look to recent
valuation decisions to illustrate how expert valuation testimony
can be squared with Daubert standards.