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Current Position
As a Managing Director of Stout, Joseph S. Estabrook is directly responsible for performance and oversight of engagements in complex litigation and consulting matters involving valuation, damages, tax and financial issues.
Professional Experience
Mr. Estabrook is a Certified Public Accountant with more than 35 years of experience and has been responsible for hundreds of consulting assignments in the areas of business valuation, litigation and dispute resolution services, providing both expert witness and consulting services. He has been qualified as an expert witness in business valuations, damages, tax and financial issues. He has valued numerous businesses representing varying industries of the economic spectrum, intellectual property, and other ownership interests. Mr. Estabrook has also been engaged to investigate and analyze numerous losses and improprieties, including inventory losses, misappropriation of funds, searches for hidden assets, undervalued assets, and financial fraud. In addition, he has provided attorney case assistance to facilitate the discovery process, develop case strategy, analyze experts’ positions and control document management.
In addition to his public accounting experience, Mr. Estabrook was controller of a multi-million dollar wholesale produce distributor, gaining valuable practical business experience in managing the financial issues of a company in a highly competitive marketplace.
Mr. Estabrook is active in professional organizations and has spoken on topics related to valuation and litigation services.
Business Valuations
Mr. Estabrook’s experience in business valuation is extensive. He has provided valuation services both as an expert witness and consultant. He has performed hundreds of valuations of closely held business interests, intellectual property, and other ownership interests. A majority of the valuations have been performed in the context of litigation, which have included shareholder disputes, domestic relation matters, and dissenting shareholder actions. He also has extensive experience in providing business valuations for estate and gift tax purposes. He has valued preferred and common stock ownership interests in closely held corporations, ownership interests in family limited partnerships, LLCs, and complex estate freeze partnerships. Mr. Estabrook is also a contributing author on blockage discounts in the Handbook of Advanced Business Valuation.
Damage Determinations
Mr. Estabrook also has experience in lost profit and intellectual property damage matters. He has determined and assisted in defending damage claims in breach of contract and fraud matters in a variety of industries which have included motorsports racing, service companies, auto dealerships, manufacturing, and software. He has assisted counsel in both determining and helping to defend patent infringement, trademark infringement, and trade secret damages matters. He has also been involved in determining damages in personal injury matters where there has been an effect on the value of the injured party’s ownership interest in a closely held business. Among many other matters, he has assisted plaintiff’s counsel in determining damages in a matter involving a conspiracy to commit fraud relating to the sponsorship of a motor racing team, which resulted in a $2.5 million jury verdict.
Forensic Accounting Investigations
Mr. Estabrook’s experience includes conducting investigations of financial fraud, asset tracing, and assistance in the recovery of misappropriated funds. It includes numerous investigations under the Perishable Agriculture Commodities Act (PACA) in which he identified, traced, and recovered dissipated assets subject to the PACA trust. In those matters, he assisted counsel in recovering over $10 million in assets that allowed a pay out to trust creditors that typically exceeded 50% of trust claims. His experience also includes a number of investigations for hidden assets and tracing relating to separate property issues in domestic cases where he and his team have provided consulting services or he has acted as a testifying expert. Their work has also assisted counsel in facilitating settlements that have been favorable to the client.
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