-322-
film rights before the CDR transaction was not only deficient but
essentially nonexistent. We reach our conclusions primarily on
the basis of that evidence. We refer to Ms. Nemschoff’s report
and testimony only as additional support for our conclusions.
3. Mr. Shapiro
Mr. Shapiro has a Ph.D. in economics and is a professor of
banking and finance at the Marshall School of Business,
University of Southern California. Mr. Shapiro has held a number
of professorial positions and has taught banking, finance, and
economics at a number of institutions in the U.S. and abroad.
Mr. Shapiro has authored numerous articles and books on banking,
finance, and economics, and he has testified in a number of court
proceedings.
a. Mr. Shapiro’s Expert Opinion220
Mr. Shapiro submitted his report and testimony on the
following matters:
(i) the value of the SMHC stock that CLIS
contributed to SMP at the time it was contributed;
(ii) the value of the $79,912,955 of indebtedness
that MGM Group Holdings owed to CLIS and the
$974,296,600 of indebtedness that MGM Group Holdings
owed to Generale Bank at the time those items were
contributed to SMP; and
220 Mr. Shapiro also submitted a rebuttal report to Mr.
Crawford’s expert opinion, which we received into evidence
without objection.
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