This week’s New York Business Divorce post features a decision after valuation trial nine-years in the making, determining the fair value of a 50% interest in two family-owned real estate holding companies
Continue Reading Fair Value Decision Caps Decade-Long Dispute Over Family-Owned Real Estate Holding Companies
A law firm with high-upside contingency-fee cases that accepted payment in cryptocurrency tokens might be one of the most difficult companies to value. This week’s post explores a recent SDNY decision on such a company.
Continue Reading When Law Firms Break Bad: The Valuation Battle Over Contingency Fees and Crypto Tokens
This week’s post unpacks the fatal flaws in a mostly-precluded discounted cash flow calculation in a New York appraisal proceeding.
Continue Reading Your Business Appraiser Relied on What!? Lessons from a Mostly-Decided Motion to Preclude
On the menu for this week’s New York Business Divorce: five noteworthy business divorce cases from five different states.
Continue Reading Crossing the Hudson: Recent Business Divorce Decisions from Yonder States
“Under any standard of value, the true economic value of a business enterprise will equal the company’s accounting book value only by coincidence . . .” says the late business valuation expert and author Shannon Pratt. So why do so many shareholder buy-sell agreements require that the shares be purchased for book value? This week’s post explores.
Continue Reading And the Award for Most Creative Attempt to Evade a Book Value Buy-Sell Provision Goes To . . .
Spectacle of Appraisal: This week’s post highlights a Manhattan Eyeglass Store’s valuation quandary and the appraisal lessons we can learn from it.
Continue Reading Clash of Valuation Visions: Appraisal Proceeding Over Manhattan Eyeglass Shop Goes the Distance
This week’s New York Business Divorce looks at an oft neglected issue with potentially large financial consequences in statutory fair value appraisal proceedings: interest on the fair value award.
Continue Reading Fair Value Awards: A Matter of Interest
When a shareholder petitions for dissolution, many states have statutes allowing the corporation to respond by buying out the complaining shareholder. This week’s post takes a look at several recent decisions concerning buyout elections across the country.
Continue Reading A Cross-Country Road Trip of Elections to Purchase in Dissolution Proceedings
In this week’s New York Business Divorce, read about a rare decision considering whether to grant an untimely BCL 1118 buyout election and the unsavory consequence of the respondent’s delay: imposition of a million dollar bond.
Continue Reading The Worst of Both Worlds: Untimely Buyout Election Yields Full Merits Hearing and Huge Bond
In business divorce litigation, the expert appraisers often are the key witnesses. A recent PwC Study analyzing the success of challenges to expert appraisers inspires a deeper dive into some keystone cases where courts excluded the expert testimony of an appraiser.
Continue Reading Challenges to Expert Appraisers in Valuation Proceedings