The chorus to one of Neil Young’s most sublime songs is “Helpless, helpless, helpless.”
If composed in song, the chorus to a recent valuation decision by Manhattan Commercial Division Justice Andrea J. Masley would be “Worthless, worthless, worthless.”
Justice Masley’s valuation decision in Quattro Parent LLC v Rakib, 2022 NY Slip Op 30190(U) [Sup Ct, NY County Jan. 14, 2022] is noteworthy for two reasons.
First, it is an extraordinarily rare example of a business valuation performed by a court solely on paper submissions without a trial.
Second, it is a rare example of a valuation case pitting a veteran appraisal expert on one side against a fact witness with no expert on the other. Sound lopsided? Let’s see who prevailed in this unorthodox battle of valuation expert versus layperson. Continue Reading Valuation Decision Finds LLC “Worthless, Worthless, Worthless”