New York’s highest court last week handed down its long awaited decision in Congel v Malfitano, in which the court tackled a number of highly important issues affecting partnership dissolution and valuation cases. Get the full story in this week’s New York Business Divorce.
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Should courts apply a marketability discount in determining the fair value of interests in realty holding companies? In downstate New York, the answer may vary depending on whether the court lies within the First or Second Departments of the Appellate Division. This week’s New York Business Divorce has the story.
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Business Divorce Stories is the title of the latest episode of the Business Divorce Roundtable podcast highlighted in this week’s post, featuring short interviews with business appraiser Tony Cotrupe and attorney Jeffrey Eilender sharing their first-hand accounts of business divorce cases involving break-ups of two businesses, each co-owned by a pair of brothers.
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This 7th annual edition of Summer Shorts presents brief commentary on three must-read decisions in business divorce cases involving the use of special litigation committees in derivative actions by LLC members; dissolution of a family-owned real estate holding corporation and LLC; and a Delaware case in which Chancery Court ordered dissolution of a deadlocked LLC co-owned by celebrity chef Gordon Ramsay.
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New Jersey’s approach to the marketability discount in statutory fair value cases has been called a “business appraiser’s nightmare.” A recent decision by a New Jersey trial court, in which it applied a 25% marketability discount to penalize a 50% owner found guilty of oppression against the other 50% owner, adds fuel to the debate. Check it out in this week’s New York Business Divorce.
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It’s time for another deep dive into fair value jurisprudence, courtesy of Justice Richard Platkin’s recent decision in the Digeser v. Flach case in which he addresses a number of valuation issues contested by the opposing business appraisal experts. Don’t miss it in this week’s New York Business Divorce.
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