This week’s New York Business Divorce treats valuation aficionados to summaries of four recent stock appraisal decisions that made it to the Supreme Court of four different states.
Continue Reading Recent Stock Valuation Decisions Reign “Supreme”
In an unusual case, a divided California appellate panel recently grappled with the application of minority and marketability discounts in a statutory appraisal proceeding triggered by a buyout election in a proceeding brought for judicial dissolution of an LLC, where the governing statute utilizes the fair market value standard instead of the more typical fair value standard. Learn more in this week’s New York Business Divorce.
Continue Reading Statutory Buyouts and Discounts Under the Fair Market Value Standard: An Awkward Pair?
When valuing an owner’s interest in a closely-held company, the calculation and applicability of a discount for lack of marketability is among the most fertile grounds for sharp disagreement. One open question: should the DLOM account for any contractual restrictions on a controlling owner’s ability to transfer his or her control?
Continue Reading Fueling the DLOM Debate: Control Transfer Restrictions and the Discount for Lack of Marketability
Was the company worth $30 million or $6 million? That was the question recently decided by Justice Vito M. DeStefano who presided over a 7-day fair-value appraisal hearing in Magarik v. Kraus USA, Inc. This week’s New York Business Divorce has the story.
Continue Reading $30 Million Appraisal of Plumbing Fixtures “Marketeer” Goes Down the Drain at Fair Value Hearing
George Costanza would be unhappy to hear about an Appellate Division decision last week affirming a trial court ruling, among others of interest in an LLC appraisal proceeding, in which it rejected as “double dipping” a request for post-valuation date income distributions on top of the fair value award. Learn more in this week’s New York Business Divorce.
Continue Reading No Double Dipping! Court Denies Post-Valuation Date Distributions in Equitable Buyout of LLC Member
Put on your traveling shoes and join this week’s New York Business Divorce for a five-state tour of five noteworthy stock valuation cases.
Continue Reading A Cross-Country Tour of Five Recent Stock Appraisal Cases
Read about the accounting principles, methodologies, and standards that apply in business valuation proceedings in this week’s New York Business Divorce – the final installment of a three-part series.
Continue Reading Basics of Valuation Proceedings – Litigating an Appraisal from Start to Finish – Part 3
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.
Continue Reading New York’s High Court Takes Fresh Approach to Wrongful Dissolution, Sustains Valuation Discounts, Limits Damages in Partnership Case
If you’re a business appraisal aficionado, you won’t want to miss this week’s New York Business Divorce featuring two recent decisions by the Delaware Chancery Court involving fair value and insolvency determinations.
Continue Reading Delaware Chancery Court Rulings Address Valuation and Insolvency Disputes
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.
Continue Reading A River’s Divide: Time for the Manhattan and Brooklyn Appellate Courts to Agree on Marketability Discount in Fair Value Proceedings