A forensic accountant, litigation consultant or a business valuation expert is often tasked with the prospect of “interpreting” clauses in an agreement from a financial point of view without expressing a legal opinion. In addition, the expert may be required to then determine the financial consequences of that interpretation. Those results are often the subject of controversy when adversarial positions are posited by competing experts or when challenged in a court of law.

One aspect of the dispute, and one with significant consequences, centered around the term indubitable equivalent value for a Class 5 creditor in the context of a debtor’s fifth amended Chapter 11 plan and objection to confirmation filed by creditor. The U.S. Bankruptcy Court, Middle District of Florida, Jacksonville Division (the court) opined on that issue (Spiderman Scott Mulholland and Tina Marie Foley Mulholland Debtors, Case No. 3:18-bk-04096-JAF, Chapter 11, Jan. 14, 2022).