ABOUT

A Dynamic Team of Expert Witnesses in the Financial Industry

At OnPointe Financial Valuation Group, LLC headquartered in Castle Pines, Colorado, our dedicated team offers informed opinions on various financial areas. Rely on us to provide unbiased, educated, and professional services in any case or legal matter.

Meet Robert E. Kleeman, Jr.

Mr. Kleeman has more than 45 years of experience as a CPA and more than 40 years of practice in the valuation of business interests, including both publicly and closely held businesses and intangibles. He also has worked extensively as an expert witness, and he has provided testimony regarding business valuation and commercial damage issues in many federal and state courts.

Under Mr. Kleeman’s guidance and leadership, we continue to provide superior services while upholding integrity.

Representative Clients and Engagements

Listing of Cases in which Mr. Kleeman has testified as an Expert at Hearing or by Deposition within the preceding Four Years, or Issued Qualifying Expert Report As required by Rule 26.2(2)(B)(I)

Note: This listing includes all trial testimony, deposition testimony, and written reports that were issued for purposes of litigation and provided to third party users.

• In re: ATNA Resources, Inc., et al., Debtor. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee. United States Bankruptcy Court for the District of Colorado. Case No 15-22848-JGR, Jointly Administered Under Case No 15-22848-JGR, Chapter 11. Adv. Pro. No. 17-01558-JGR. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee, Plaintiff, v. AFCO Premium Credit, LLC., Defendant. Supplemental Report and Affidavit issued December 13, 2019.

• American Society of Home Inspectors v. International Association of Certified Home Inspectors et al. United States District Court, District of Colorado. Case No. 1:18:CV-01797 – RBJ. Damage Report issued November 13, 2019. Opposing Expert Rebuttal Report issued December 13. 2019. Deposition February 6, 2020.

• In re the Marriage of Beller, In the Circuit Court of the Sixteenth Judicial District, Kane County, IL., Case No. 17 D 1304. Rebuttal report issued October 24, 2019. Deposition November 7, 2019.

• Michael J. Guyerson v. Carissa Gonzales, District Court, Denver County, State of Colorado. Case No. 19 CV 39187, Courtroom 376. Report issued July 8, 2019. Opposing Expert Rebuttal Report issued August 26, 2019.

• Scott Tollaksen, Individually and derivatively as a shareholder of Lionheart Critical Power Specialists, Inc., an Illinois Corporation, and of Lionheart Power Systems, Inc., an Illinois Corporation v. William Stunkard, Donald Ritter, Kenneth Lenhart, Michael Hunter, Lionheart Critical Power Specialists, Inc., an Illinois Corporation and Lionheart Power Systems, Inc., an Illinois Corporation. In the Circuit Court of the Sixteenth Judicial Circuit, Kane County, Illinois, Case No. 2017 CH 707. Expert for Defendants. Report issued August 13, 2019.

• In re: American Eagle Energy Corporation (Case No. 15-15073-KHT) and AMZG, Inc., (Case No. 15-15074-KHT) Debtors. Walter A. Jones, Liquidating Trustee of American Eagle Energy Corporation. United States Bankruptcy Court for the District of Colorado. Walter A. Jones, Liquidating Trustee of the Liquidating Trust of American Eagle Energy Corporation, Plaintiff v. Power Energy Partners LP., et al., Defendants. DC No. 1:16-CV-00043-RM, Adv. Pro. No. 15-01444-KHT. Report Issued January 15, 2019. Expert for Liquidating Trustee. Opposing Expert Rebuttal Report issued January 31, 2019.

• In re: ATNA Resources, Inc., et al., Debtor. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee. United States Bankruptcy Court for the District of Colorado. Case No 15-22848-JGR, Jointly Administered Under Case No 15-22848-JGR, Chapter 11. Adv. Pro. No. 17-01160-JGR. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee, Plaintiff, v. Komatsu Financial Limited Partnership. Report Issued July 9, 2018, Expert for Liquidating Trustee. Supplemental Report dated November 6, 2018.

• In re: ATNA Resources, Inc., et al., Debtor. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee. United States Bankruptcy Court for the District of Colorado. Case No 15-22848-JGR, Jointly Administered Under Case No 15-22848-JGR, Chapter 11. Adv. Pro. No. 17-01160-JGR. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee, Plaintiff, v. Elwood Staffing Services Report Issued May 15, 2018, Expert for Liquidating Trustee.

• In re: ATNA Resources, Inc., et al., Debtor. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee. United States Bankruptcy Court for the District of Colorado. Case No 15-22848-JGR, Jointly Administered Under Case No 15-22848-JGR, Chapter 11. Adv. Pro. No. 17-01557-JGR. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee, Plaintiff, v. Wells Fargo Equipment Finance Inc. Report Issued May 9, 2018, Expert for Liquidating Trustee. Supplemental Report issued July 12, 2018. Rebuttal of Defendants Expert Report issues August 7, 2018. Deposition, Sept 29, 2018

• In re the Marriage of Bogart. District Court, Arapahoe County, State of Colorado, Case No. 2017 DR 30562, Div. 24. Report dated April 24, 2018. Expert for Petitioner / Husband.

• In re: ATNA Resources, Inc., et al., Debtor. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee. United States Bankruptcy Court for the District of Colorado. Case No. 15-22848-JGR, Jointly Administered Under Case No. 15-22848-JGR, Chapter 11. Adv. Pro. No. 17-01555-JGR. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee, Plaintiff, v. Caterpillar Financial Services Corporation. Report issued April 12, 2018, Expert for Liquidating Trustee.

• In re: ATNA Resources, Inc., et al., Debtor. Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee. United States Bankruptcy Court for the District of Colorado. Case No. 15-22848-JGR, Jointly Administered Under Case No. 15-22848-JGR, Chapter 11. Adv. Pro. No. 17-01156, Atna Liquidating Trust, Kenneth J. Buechler, Liquidating Trustee, Plaintiff, v. Black Diamond Blade Company, d/b/a Cutting Edge Supply, Defendant. Report Issued January 6, 2018, Expert for Liquidating Trustee.

• Zachary Frisch et al, v. RDP Barricade Company et al. District Court, City and County of Denver, Colorado. Case No. 2016CV30750, Courtroom 215. Expert for Defendant. Valuation Report issues July 2017.

• Jeffrey A. Weinman, Chapter 7 Trustee of the Bankruptcy Estate of Christopher Lloyd Neher. United States Bankruptcy Court for the District of Colorado, Case No 13-22641 EEB, Adversary Case Number 2015CV32134, District Court for El Paso County, Colorado. Valuation Expert for Trustee. Valuation Report issued, August 26, 2016.

• In re the Marriage of Lorusso, Case No 13 D 1659, 18th Judicial District, DuPage, County, Illinois. Valuation Expert for Husband. Report Issued Sept 2015. Trial Testimony, December 2015.

• In re the Marriage of Spata. Case No. 12 D 1198, 16th Judicial District, Kane County, Illinois, Valuation Expert for Husband, Valuation of 2 separate business entities, reports issued June 18, 2015. Deposition Testimony, August 18, 2015, Trial Testimony September 2, 2015

• Kovac v. Kovach, Case 12 CH 05195, Circuit Court of Cook County, Illinois, County Department, Chancery Division. Valuation report on behalf of Plaintiff, Report dated May 6, 2015, deposition May 18, 2015.

• George Novak v. Miracle Press Company, Inc et al. Case No 13 CH 1456, 16th Judicial Circuit, Kane County, Illinois. Valuation Report on behalf of Defendants. Report dated March 5, 2015., Deposition July 9, 2015

• Harvey Sender, Chapter 7 Trustee, In re Foresight Applications and Systems Technology, LLC v. Genesee Capital Corporation, and Document Recovery Systems, LLC Case No. 13-13290-SBB, Adv. No. 14-01236-SBB, and Adv. No. 14-01237-SBB. United States Bankruptcy Court for the District of Colorado. Complaints to Avoid Preferential Transfers on behalf of US Trustee. Report dated February 27, 2015. Opposing Expert rebuttal report issued July 14, 2015.

• Kovac v. Barron et al. Case No 07 CH 1886, 16th Judicial Circuit, Kane County, Illinois. Valuation as of June 6, 2012. Expert for Plaintiff. Report dated December 3, 2014. Deposition, December 17, 2014, Rebuttal Report, Opposing Expert’s opinion, Report dated February 6, 2015

• Estate of Gary E. Walter, Michael D. Sher, Trustee. Response to IRS Examination on behalf of Taxpayer. Report Issued December 22, 2014.

• Weinman, Chapter 7 Trustee v. Friant & Associates, LLC. Case No. 09-34901-HRT, Adv No. 11-01850 – HRT, United States Bankruptcy Court for the District of Colorado, Complaint to Avoid Preferential Transfers. Damage Claim on behalf of US Trustee. Filed September 15, 2014. Matter Settled.
• Weinman, Chapter 7 Trustee v. HMU, LLC. Case No 09-34901-HRT, Chapter 7, United States Bankruptcy Court for the District of Colorado, Adversary Proceeding No. 11-01860-HRT. Rebuttal Report on behalf of U.S. Trustee, Filed April 11, 2014. Matter Settled.
• In re the Marriage of McGregor, Case No 12 DR 3178, District Court, Denver County, Colorado. Valuation Expert for Wife. Prepared several rebuttal reports. Trial Testimony February 2014.

• In re: Inland Pacific Colorado, LLC, Case No 13-24250-ABC, Chapter 11, United States Bankruptcy Court for the District of Colorado. Appointed October 2013 as Financial Expert for Debtor. Reports provided to Counsel November 2013.
• Nova Leasing LLC. v. Sun River Energy, Case No 11 CV 00689-CMA-BNB. United States District Court, District of Colorado, Defense Expert Rebuttal Report filed June 2013.
• Weinman, Chapter 7 Trustee v. Iceberg Enterprises, LLC. Case No 09-34901-HRT, Chap 7, United States Bankruptcy Court, District of Colorado. Adversary Proceeding No 11-1861-HRT, Rebuttal Report on behalf of US Trustee, Filed May 2013.
• In re the Marriage of McNally. Circuit Court in the 16th Judicial District, Kane County, Illinois. Case No 12D1346. Business Valuation Report dated February 2013.
• Digital Community Networks, Inc and SW Florida Communications, LLC v. Bay Village of Sarasota, Inc., and Comcast of West Florida, Inc. Case No 2009 CA 021535 NC, Div. A. Circuit Court of the Twelfth Judicial Circuit in and for Sarasota County, Florida, Civil Division. Damage Expert for Defendants Bay Village. January 2013
• In re Premier Paving, Inc. Case No. 12-16445-MER, United States Bankruptcy Court, District of Colorado. Expert to Unsecured Creditors Committee, Appointment Approved by Court, December 2012.
• Kuzyk et al. v. Lucke et al., 10 CV 1081, State of Wisconsin: Circuit Court, Sauk County. Valuation Report dated January 2012, deposition testimony Spring 2012
• In re the Marriage of Zachmann, Circuit Court in the 16th Judicial Circuit, Kane County Case No. 09 D 564 – Business Valuation Report dated January 31, 2011. Trial Testimony, December 2011.
• In re the Marriage of Salamone, Circuit Court in the 18th Judicial Circuit, DuPage County Case No. 07 D 1194 – Opposing Expert rebuttal reports issued September 13, 2010.
• F. Gary Kovac v. Sandra L Barron, not individually, but solely as plenary guardian for the person and estate of Kenneth L. Barron, Jr., Pinnacle Systems, Inc., Press Room electronics, Inc., Triad Controls, Inc., and Repair Services, Inc., Circuit Court in the 16th Judicial Circuit, Kane County Case No. 07 CHK 1886 – Expert for Plaintiff. Economic Damages Report dated September 3, 2010. Testimony April 2012. Affirmed on Appeal, Appellate Court of Illinois, Second District, 2014 IL App (2d) 121100, No. 2-12-1100, Opinion filed March 7, 2014.
• In re the Marriage of Garvin, Circuit Court in the 16th Judicial Circuit, Kane County – Business Valuation Report dated July 28, 2010.
• Diane Schreiner v. Challenger Manufacturing, Inc. d/b/a/ Blue Wave Products and James Coxworth, individually, Defendants, Circuit Court in the 16th Judicial Circuit, Kane County Case No. 09 GEN L 188 – Opinion of Damages Report dated May 27, 2010. Depositions 2011.
• In re the Marriage of Ellington, Circuit Court in the 16th Judicial Circuit, Kane County Case No. 07 D 1363 – Business Valuation Report dated December 11, 2009.
• In re the Marriage of Macnider, Circuit Court in the Eighteenth Judicial Circuit, DuPage County Illinois Case No. 08 D 2176. Final Business Valuation Report dated January 15, 2010.
• Aurora Internal Medicine Ltd. an Illinois corporation and Dr. Ted Kulczycki v. Dr. Philip Moore, Joan Dodson & Highland Physician Services, S.C., an Illinois Corporation & ME Computer Systems, LLC, Circuit Court in the 16th Judicial Circuit, Kane County Case No. 06 CH K 911 - Deposition May 20, 2009.
• In re the Marriage of Pollack, Circuit Court in the Sixteenth Judicial Circuit, Kane County, Illinois, Business Valuation Report dated April 27, 2009.
• City of Aurora and Grimm Construction Co., Inc. v. PS Systems, Inc. and RAR Group, LLC United States District Court for the District of Colorado, Case No. 07-CV-02371-PAB-BNB. Expert Report dated March 31, 2009.
• In re the Marriage of Christensen, Circuit Court in the Sixteenth Judicial Circuit, Kane County, Illinois, Business Valuation Report dated March 18, 2009.
• TDG COOK Company, LTD., a Colorado limited partnership, JL COOK Company LTD., a Colorado limited partnership, and Gary R. Cook v. Robert E. Cook. District Court, City and County of Denver, Colorado, Case No, 2006CV3090. Affidavit presented to Court, October 16, 2007, Rebuttal damage report issued October 18, 2007. Trial Testimony December 12, 2007.

• Beaber Family Orthodontics, PC, a Colorado corporation and William D. Beaber, D.M.D., and individual v. Mark J. Stasi, D.D.S, P.C., a Colorado corporation; The Sletten Group, Inc., a Colorado corporation, and Paul Sletten, an individual. Douglas County District Court, 18^th Judicial District, Colorado. Case No. 06 CV 1099. Rebuttal damage report on behalf of Plaintiffs, issued September 12, 2007.
• DHI – 88th & Washington, LLC. v. New Albertson’s, Inc. District Court, Adams County, Colorado, Case No. 06 CV 11560, Damages Report on behalf of Plaintiff, issued June 19, 2007.
• Courtesy Oldsmobile Incorporated, a Nevada corporation, vs. General Motors Corporation, a Delaware corporation. In the United States District Court for the District of Nevada, Case No. CV-S-031047-NHD-LRL. Damage Reports (2) on behalf of Plaintiffs, issued July 2006. Opposing Expert rebuttal report issued January 2007.
• Marriage of Maetzold, Douglas County, CO., Valuation Report issued February 28, 2006. Rebuttal of opposing experts report issued May 24, 2006.
• Biotest Laboratories, LLC, v. Creative Compounds, LLC. 2005 CV 3078, District Court, City and County of Denver, State of Colorado. Affidavit issued February 2006, Damage Report on behalf of Plaintiff, issued July 3, 2007.
• In re CFS-Related Securities Fraud Litigation, Cases 99-CV-862-K(J), 99-CV-863-K(J), 99-CV-873-K(J), 02-CV-531-K(J), and 02-CV-591-K(J), United States District Court for the Northern District of Oklahoma. Damage reports on behalf of Plaintiffs, filed November 2005.
• In re the Marriage of Ruhstorfer, Circuit Court of the Eighteenth Judicial Circuit, DuPage County, Illinois, Case No. 02 D 347, Report Issued April 21, 2004, deposition testimony June 23, 2004.
• United States of America v. Grant Graham, et. al., United States District Court, District of Colorado Criminal Case Number 03-CR-89-RB, Damage report on behalf of Plaintiff, Issued November 19, 2003, Trial Testimony March 23, 2004.
• Harvey Sender, as Trustee for USA Capital, L.L.C., a Colorado Limited Liability Company v. Deloitte & Touche, L.L.P. et al. District Court, City and County of Denver Case No. 02-CV-3366. Damage Report on behalf of Defendants. Report Issued December 19, 2003, Deposition Testimony February 10, 2004.
• Gerald K. Smith, as Plan Trustee for and on behalf of the Estates of Boston Chicken Inc., et al., v. Arthur Andersen LLP, et al. In the United States District Court for the District of Arizona, Consolidated Case No. CIV-01-218-PHX-PGR, CIV-01-246-PHX-EHC, CIV-02-1162-PHX-PGR, and CIV-02-1248-PHX-PGR. Report(s) Issued October 2, 2003. Deposition Testimony October 20 – 21, 2003.

Robert E. Kleeman, Jr. CPA/ABV, ASA,

Mr. Kleeman has more than 50 years experience as a CPA and 40+ years of experience in the valuation of business interests, including both publicly- and closely held businesses and intangibles. Mr. Kleeman also has extensive experience as an expert witness and has provided testimony regarding business valuation and commercial damage issues.

Mr. Kleeman is a Certified Public Accountant licensed in Illinois, Colorado and Texas. In addition, Mr. Kleeman is accredited in business valuation by:
• The American Institute of Certified Public Accountants as Accredited in Business Valuation (CPA/ABV);
• The American Society of Appraisers as an Accredited Senior Appraiser (ASA – Business Valuation); and
• The National Association of Certified Valuation Analysts (CVA). (Inactive)

Contributions to the Profession

Mr. Kleeman has been a leader in the evolution of business valuation as a body of knowledge and as a CPA specialty since the early 80’s. These activities include:

• Committee Member of the AICPA Business Valuation and Appraisal Subcommittee. During this service the AICPA created and awarded the Accredited in Business Valuation credential. (Three 1-year terms)

• Committee Member, AICPA ABV Credentials Committee. Mr. Kleeman helped to define the qualifications for candidates to take the ABV examination. (Three 1-year terms)

• Committee Member, Joint AICPA/ASA/Illinois CPA Society Valuation Education Program Committee. Mr. Kleeman helped develop the curriculum and texts that are used in training by the AICPA for Business Valuation.

• Committee Member, Illinois CPA Society CEA Business Valuation Certificate and Program Committee. This committee produced the original continuing professional education course material to obtain the Certificate of Education Achievement awarded by the Illinois CPA Society for Business Valuation, which was a predecessor accreditation to the CPA/ABV.

• Mr. Kleeman wrote and taught the continuing professional education course “The CPA – Valuator & Expert Witness.” During the period 1983 through 1998 this course was the leading program to educate CPA’s providing expert witness testimony. This program was taught by Mr. Kleeman for over 15 years. More than 20 State CPA societies presented the program, as well as several non-CPA groups, including the American Bar Association and various State CLE programs. The program is currently offered as a self-study guide as part of the AICPA Accredited in Business Valuation Exam Review Program.

• In 1996 Mr. Kleeman received Clifton Gunderson’s Founder’s Award, one of the most prestigious awards within the firm, for his service to the profession and for his role in the business valuation community.

Selected Business Valuation Experience

• State Insurance Commission v. Large Insurance Company – Worked with the State Insurance Commission regarding an insolvent insurance company and alleged fraud by certain shareholders. Assisted in identifying assets transferred, valued operating entities and various debt securities, and assisted in the recovery of over $300 million in assets for the State.

• Business Valuation Malpractice Claim. – On behalf of defendant Public Accounting Firm, reviewed the valuations performed on 13 distinct entities. Performed report reviews as defined in the Uniform Procedures of Professional Appraisal Practice regarding the quality of the original work performed. Defended “Big 8” firm on valuation matters related to audited financial statements.
• Manufacturing – Valuation assignments include Medical Device Manufacturers, Automotive related entities, Safety equipment, Pet Food, Confectionary, Fasteners, Chemicals, Electrical Equipment and Devices, HVAC, Safety and Control Devices.
• Telecommunications – Valued several telephone entities in various states. Valued telecom equipment supplier, including wire and cable operations. Valued long-term contractual relationship between national cable service provider and large user group.
• Banking & Finance – Valued several financial institutions relating to shareholder suits related to taking institutions private. Valued financial asset
Portfolios for purposes of transferring same to regulated institution, subject to Office of the Controller of the Currency regulations.
• Retail Valuation – Valued minority interest in 11 similar operating entities located throughout the United States. Also valued retail grocery entities, retail clothing stores, and ethical drugs.
• High Tech – Valued numerous computer related and dot.com entities to include both start-ups and existing organizations providing content.
• Fast Food Valuations –Valued ownership interests in various fast food franchise restaurants. Experience includes most popular franchises. Values from $1 million to more than $150 million.
• Hospitals / Medical Valuations – Valued operating hospitals in connection with various lawsuits regarding value for tax purposes. Involved in 5 distinct similar engagements.
• Oil & Gas / Energy Related – Valued electrical transmission entity for spin off from parent to newly formed investor group. Valuation of working interest in producing properties based on cash distributions. Valuation of underlying stock and warrant pricing for exploration and production entity.

Selected Litigation Experience

• US Dept of Justice – Engaged by USDOJ to evaluate impact of financial reporting of transactions on traded share price.
• Securities Litigation – Engaged by Plaintiff group in calculating damages incurred in multi-million-dollar Asset Based Security Offering. Services included valuation of credit card portfolios and calculations of actual damages based on multiple theories of recovery. On several matters, engaged by professional services firms to provide rebuttal to damages on matters under securities claims.
• Individuals v. Farm Equipment Manufacturer – Rebutted plaintiff’s damages related to operation of Farm Equipment
• FDIC v Major Banking Institution – Engaged by Federal Deposit Insurance Corp to determine damages caused by failure of regulated institution. Damages determined to exceed $800 million, matter settled favorable to FDIC.
• Investor v. Failed S&L Institution – Engaged by investor to trace applications of invested funds in large real estate development. Findings indicated that there was significant misapplication of investment funds, with significant recovery by investor.
• RTC engagements – Retained by RTC on numerous occasions to review collapse of S&L’s and determine extent, (if any) of recoverable damages.

Selected Intellectual Property Experience

• IRS v. Major Consumer Products Mfg. – Determined fair market value of hundreds of patents, trademarks and other intellectual property transferred from US taxpayer to non-US subsidiary.
• Municipality v. Cable Television Co. – Retained by municipality to determine fair market value of its cable television operation and rights to further development as part of a potential sale of the assets to a cable company
• Software Creator v. Software Reseller – Determined damages sustained by creator based on unauthorized actions of reseller. Also valued reseller as part of the transaction. Valued trademarks and other intangible property owned by Creator.
• Telecommunications product infringement issues – Involved in several matters related to intangible property used in telecommunications and video applications.

Selected Insolvency / Bankruptcy Matters

• Expert for Liquidating Trustee in fraudulent transfer, insolvency issues and other recovery matters in major oil and gas litigation.
• Expert for Trustee in fraudulent transfer, insolvency issues, and alter ego issues in hard rock mining operation related litigation.
• Determination of damages related to “anchor tenant” terminating lease in major shopping center.
• Expert for Unsecured Creditors Committee relating to Chap 11 reorganization plan.
• Financial Expert for Debtor regarding feasibility of plan of reorganization related to Real Estate / Hospitality Industry matter.
• Expert for Trustee in avoidance matters relating to software developer and investors, to include determination of equivalent value.
• Expert for Trustee in valuation of minority interest of unrelated (solvent) closely held entity held by Debtor.
• Expert for Trustee in numerous fraudulent and preference transfers between Debtors and creditors.

Selected Publications and Speeches

• “Build-Up Approach; The Data may be Correct, But is the Conclusion Appropriate?” Business Valuation Review, Vol 25, No 11, November 2019.
• “When is a 70% Equity Interest a Minority?” Business Valuation Review, Vol 25, No. 10., October 2019.
• “The Internet Might be Right, But it also might be Wrong”, Business Valuation Review, Volume 25, No 8, August 2019. Republished in the “AZ|CPA, Volume 35, Number 7, September 2019.
• “A Curmudgeon Looks at the BV Profession” – Presentation to the New York State Society of Certified Public Accountants, Annual Business Valuation Conference, May 2019. Also presented December 2019, Arizona CPA Society, Business Valuation and Forenesic & litigation Services Conference.
• Visiting Instructor – Strategic Management and Entrepreneur Studies, Northern Illinois University (4 presentations), April 2019.

• “Building a Successful BV Practice within a CPA firm., Original publication, Business Valuation Review, Vol. 24, No. 12, December 2018, page 12. Republished Business Valuation Update Yearbook, 2019 Edition.

• Visiting Instructor – “Cost of Capital”, Northern Illinois University, DeKalb, Illinois. Master’s in accountancy Program, ACCY 690 – “Accountancy Capstone / Financial Statement Analysis and Business Valuation”. October 2018. Member of Exam Review Board – December 2018, May 2019.
• “A Veteran Valuer Looks at the BV Profession.”, Original publication Business Valuation Review, Vol 24, No. 8, May 2018, page 16. Republished Business Valuation Update Yearbook, 2019 Edition.
• “Time to Update the Guiding Principles to a Valuation Report”, Business Valuation Review, Vol. 23, No. 5, May 2017.
• Using Financial Experts in the Bankruptcy Process, American Bankruptcy Institute, Rocky Mountain Conference, January 2015 (2 Sessions).
• Using Financial Experts in the Bankruptcy Process; Presentation to the American Bankruptcy Institute, Rocky Mountain Meeting, January 2012 (two sessions – panel discussion)
• Business Valuation: Not Just for the Family Law Practitioner, Presentation to the Commercial Law Group, Kane County Bar Association, (IL) Nov 2011
• Attorney Beware: Business Valuation in the Current Economic Climate – It might be the Right Method, but it Could be the Wrong Answer, Kane County (IL) Bar Journal, May 2010, Presented to the 11th Annual Commercial/Lending Law Seminar, Kane County Barr Association (IL), September 24th, 2010
• Guest Lecturer, Northern Illinois University, School of Accountancy, Graduate Program. Cost of Capital and other Valuation Related Issues Fall and Spring Semesters, 2008, 2009, and Spring 2010.
• “Fair Value Versus Fair Market Value: Is There a Place for Fair Value in Marital Dissolution?” BVR’s Guide to Fair Value in Shareholder Dissent, Oppression and Marital Dissolution, 2009 Edition, Business Valuation Resources LLC, 2009.
• “Advanced Discount Issues”, CPA Associates Business Valuation Conference, August 2003, Baltimore MD.
• “Fair value versus fair market value: Is there a place for fair value in marital dissolution?” Guest article, Shannon Pratt’s Business Valuation Update, May 2003.
• “Should There Be a New Standard of Value – Divorce Value, A Debate”, AICPA National Business Valuation Conference, New Orleans, LA, November 17, 2002.
• Business Valuation Seminar, Eide Bailey LLP, Minneapolis, MN, May 29th, 2002. Various Topics, 8 Hours.
• “Discounts and Premiums”, Minnesota Society of CPA’s, 1st Annual Business Valuation Conference, November 27, 2001, Minneapolis, MN.
• The Handbook for Divorce Valuations, Kleeman, Alerding & Miller, John Wiley & Sons, September 1999.
• Technical Reviewer, Business Valuation Body of Knowledge, Shannon P. Pratt, John Wiley and Sons, 1998

Education, Licenses, and Designations

• B.S., Accounting, Northern Illinois University, 1969
• CPA, University of Illinois (1971)
• Registered Public Accountant, Illinois
• Certified Public Accountant, Colorado
• Certified Public Accountant, Texas (Inactive)
• Accredited in Business Valuation (ABV), American Institute of Certified Public Accountants.
• Accredited Senior Appraiser (ASA), Business Valuation, American Society of Appraisers
• Certified Valuation Analyst (CVA), National Association of Certified Valuation Analysts (Inactive)
• Mediation Training, Resolution Resources Corp.

Affiliations
• American Institute of CPAs
• American Society of Appraisers

Commercial Litigation – Accounting Malpractice

Gerald K. Smith as Trustee, v. Arthur Andersen LLP, US District Court, District of Arizona – Valuation Expert for Defendant
Harvey Sender as Trustee for USA Capital v. Deloitte & Touche, District Court, City and County of Denver – Damage Expert for Defendant

Commercial Litigation – Securities Litigation

In re CFS Related Securities Fraud Litigation, US District Court for the Northern District of Oklahoma – Damage Expert for Plaintiff’s
State of Hawaii v. Executive Life Insurance Co., District Court, State of Hawaii – Expert for Plaintiff

Commercial Litigation – Financial Institutions

In re Republic Bank Dallas, FDIC Enforcement Action – Damage Expert for FDIC
Williamsburg Savings and Loan, RTC Enforcement Action – Damages Expert for RTC
Midway Development v. American Continental Corporation and Lincoln Savings and Loan, US District Court, District of Arizona – Expert for Plaintiff.
Office of the Comptroller of the Currency, Application to create FSB – Valuation Expert for Credit Portfolios to be Contributed to the FSB

Commercial Litigation – Breach of Contract/Shareholder Disputes

Courtesy Oldsmobile v. General Motors Corp, US District Court for the District of Nevada – Valuation and Damage Expert for Plaintiff
Kovac v. Barron, 16th Judicial District, Kane County, IL – Valuation and Damage expert for Plaintiff
Novak v. Miracle Press Company, Shareholder Dispute, 16th Judicial Circuit, Kane County, IL – Expert for Defendant
Aurora Internal Medicine v. Dr. Philip Moore et al., 16th Judicial District, Kane County, IL – Damage Expert for Plaintiff
Kovac v. Kovac Circuit Court of Cook County, IL, Chancery Division – Expert for Plaintiff

Bankruptcy Litigation

Atna Liquidating Trust, Kenneth J. Buechler, Liquidation Trustee, US Bankruptcy Court, Colorado
Weinman, Chapter 7 Trustee, Numerous Preference Matters on Behalf of Trustee, Colorado
Inland Pacific Colorado, US Bankruptcy Court, District of Colorado – Expert for Debtor
In re Premier Paving, Inc, US Bankruptcy Court, District of Colorado – Expert for Unsecured Creditors Committee
In re Sand Hills Beef, US Bankruptcy Court, District of Colorado – Expert for Secured Lender

Tax Litigation

IRS v. Fortune 500 Company – Expert for IRS relating to valuation of in excess of 500 million of intellectual property transferred to offshore subsidiary by taxpayer
IRS v. Public Utility – Expert for IRS relating to value of Transmission facility spun off to newly formed subsidiary
IRS v. Domestic Entity with Foreign Manufacturing Facility – Expert for IRS regarding valuation and transfer pricing issues

Complex Martial Litigation

Marriage of Vogel – New Jersey
Marriage of McGregor – Colorado
Marriage of Coulter – Kansas
Marriage of Coulter – Kansas
Marriage of Ruhstorfer – Illinois
Marriage of Zachmann – Illinois

Contact Us

For more information about our services or the requirements of joining as an affiliate, contact Bob Kleeman at (303) 771-8100 or through [email protected].