Leading Global Expert on Solvency Tests and the Financial Economics of Economic Distress
Founded by leading financial researcher J.B. Heaton, One Hat Research LLC applies financial economics to help decision makers understand financial evidence to make better decisions about financially-distressed companies.
J.B. Heaton's research is published and cited by courts and scholars around the world. These include:
“Solvency Tests,” Business Lawyer, Vol. 62, No. 3, 983-1006 (2007). (peer-reviewed), cited in Koch Foods, Inc. v. Pate Dawson Co., Inc., No. 3:16-CV-355-DCB-MTP, 2017 WL 4818426, at *5 (S.D. Miss. Oct. 25, 2017); USA Trouser, S.A. de C.V. v. Andrews, 612 F. App'x 158, 161 (4th Cir. 2015); In re Teleglobe Commc'ns Corp., 392 B.R. 561, 602 (Bankr. D. Del. 2008).
“Deepening Insolvency,” The Journal of Corporation Law, Vol. 30, No. 3, pp. 465-500 (2005), cited in In re Parmalat Sec. Litig., 501 F. Supp. 2d 560, 576 (S.D.N.Y. 2007), aff'd sub nom. Pappas v. Bank of Am. Corp., 309 F. App'x 536 (2d Cir. 2009); Christians v. Grant Thornton, LLP, 733 N.W.2d 803, 811 (Minn. Ct. App. 2007); In re James River Coal Co., 360 B.R. 139, 178 (Bankr. E.D. Va. 2007); In re CitX Corp., Inc., 448 F.3d 672, 680 (3d Cir. 2006); In re Sage Enterprises, Inc., No. 04 A 03014, 2006 WL 1722582, at *18 (Bankr. N.D. Ill. Apr. 28, 2006); In re Oakwood Homes Corp., 340 B.R. 510, 535 (Bankr. D. Del. 2006).
“Incomplete Financial Contracts and Non-Contractual Legal Rules: The Case of Debt Capacity and Fraudulent Conveyance Law,” Journal of Financial Intermediation, Vol. 9, pp. 169-183 (2000). (peer-reviewed)
J.B. Heaton, J.D., M.B.A., Ph.D. (Finance)
J.B. Heaton is a global leader in developing practical valuation and economic insights. He founded One Hat Research LLC in 2019 to provide expert witness testimony in the areas of his research.
J.B. received his J.D., M.B.A., and Ph.D. (with a finance concentration) from the University of Chicago. He was a litigation partner at a Chicago-based law firm for 14 years while maintaining an active research agenda and teaching - at various times - at the law and business schools of the University of Chicago and Duke University and the law school of Northwestern University.
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Why One Hat?
"One Hat" is an anagram of Heaton. Trained as a lawyer and a financial economist, the name refers to J.B.'s aspiration - now realized - to focus on work as a financial economist, to wear "one hat" instead of two.