|Posted on May 9, 2014 at 4:05 PM|
Judge Laro is a pre-eminent US Tax Court judge that authored the Mandelbaum opinion. He has been active with the different business valuation and appraisal societies. He is back in the news. He has called for a new way of eliciting the testimony of experts, this proposed method is referred to as "expert hot tubbing".
"Expert hot tubbing" is used outside the US and it calls for concurrent testimony of the experts. While he has advocated this approach, this approach was recently used in the Buyuk, LLC v CIR, a late 2013 case. See http://www.ustaxcourt.gov/InOpHistoric/BuyukMemo.Laro.TCM.WPD.pdf
This is an approach that would work well in other venues. One other option not used frequently enough is for the court to retain its own expert. That possibility could reduce the intensity of litigation and impression that the expert's are really not impartial. Will experts temper their judgment if they know the court has its own expert and/or the court will "hot tub" the experts. Whether this is adopted in WA is an open question (in my opinion).
For unbiased expert consulting services, please contact Central Washington Appraisal, Economic & Forensics, LLC.