Opinion
12249-20
01-12-2023
LONG BRANCH INVESTMENTS, LLC, GREENCONE INVESTMENTS, LLC, TAX MATTERS PARTNER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
ORDER
Courtney D. Jones, Judge.
On January 9, 2023, the parties filed a Joint Status Report (Doc. 41). Therein, they represent that they are still in the informal discovery process. They further represent that respondent's counsel is in the process of obtaining final approval for experts. The parties agree that, "Experts will help the parties and the Court understand valuation, conservation purposes, and other pertinent issues."
Upon consideration of the parties' Joint Status Report, including the representations noted above, the Court advises the parties that the Court intends to focus on the issue of valuation at trial (likely in a partial trial format). Accordingly, the Court strongly encourages them to focus their discovery and pre-trial efforts on valuation.
In light of the foregoing, it is
ORDERED that on or before April 11, 2023, the parties shall file a status report (jointly if possible, otherwise separately) that provides the Court with an overview of the status of this case. The Court expects the parties to work cooperatively and expeditiously to prepare the case for partial trial on the issue of valuation.