About

The engagement centered on a high-stakes valuation dispute in a court widely regarded as one of the most influential business courts in the country. The assignment was anything but ordinary: it required preparing valuations for ownership interests in multiple tax credit properties, including dozens of real estate appraisals and complex GP interest valuations. The timeline was tight, the stakes were high, and the scrutiny was intense. Success would depend on precision, speed, and the ability to present a clear, defensible story in court.

Challenges to Success

From the outset, the team faced a daunting set of challenges. The timeline was compressed to just six or seven weeks, forcing work to continue through major holidays. The sheer volume of work – more than 50 real estate appraisals and 30-plus GP interest valuations – was compounded by the complexity of the litigation. Every detail had to withstand rigorous examination and be bulletproof. Adding to the pressure was the court, where judges expect clarity and precision and allow little room for error. 

Actions Taken

To meet these challenges, CohnReznick mobilized quickly with a dynamic group of specialists were assembled, bringing deep expertise in tax credit and Low-Income Housing Tax Credit (LIHTC) valuations. The workflow was structured with multiple layers of review – preparer, senior manager, partner – and collaboration was constant and real-time. The client and counsel were kept closely informed throughout the engagement – progress was communicated regularly and the client was walked through the analytical approach and findings as the work advanced. We also helped the client think through information requests and, where possible, suggested reasonable alternatives that reduced burden on all parties. In a highly contentious environment, that kind of support helps maintain professionalism and allows for at least occasional constructive interactions with opposing counsel.

What made this approach unique was its integration: real estate appraisal, waterfall modeling, and litigation preparation were handled under one roof, eliminating inefficiencies and ensuring consistency. Beyond the technical work, we partnered closely with legal counsel to transform a 700-page report into a clear, compelling narrative for the court. Every strategy was deliberated, every question anticipated, so that when the time came to testify, the story was airtight.

Results

The outcome spoke volumes. After weeks of intense preparation and collaboration, the court rejected the opposing experts and fully affirmed the valuation presented. It was a decisive win – delivering a significant financial result for our client. The ruling validated a defensible, reasonable approach grounded in deep technical expertise and highlighted the strength of collaboration under pressure. From the first scoping conversation to the final moments in court, every commitment was honored, and the work stood up to the highest level of scrutiny.

Key highlights include:

• Court affirmation: The judge dismissed the opposing experts and certified the valuation in full.
• Financial victory: A substantial monetary award was secured, along with reimbursement of legal fees.
• Reputational restoration: Allegations were cleared, safeguarding professional standing and future opportunities.

In the end, this wasn’t just about numbers – it was about resilience, strategic execution, and the power of a unified team. The result underscored what can be achieved when technical precision and courtroom readiness come together seamlessly.