A Brooklyn appellate panel last week provided more fodder for the DLOM debate that’s been in the legal news of late, upholding a 0% DLOM in a fair value appraisal of a membership interest in a real estate holding company. It’s featured in this week’s New York Business Divorce.
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Valuation
Top Ten Business Divorce Cases of 2014
New York Business Divorce proudly presents its seventh annual list of the past year’s ten most noteworthy business divorce cases, along with short summaries and links to prior posts on the featured cases. Happy New Year!
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Dissolution Battle Over Heavily Indebted Business Yields $1 Buy-Outs
By Peter A. Mahler on
Call it the case of the underwater watering hole. This week’s New York Business Divorce looks at a recent post-trial decision by Justice Carolyn Demarest ordering $1 buy-outs of the petitioners’ shares in a debt-laden business that operates a neighborhood bar. …
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Restaurant’s Cash-Skimming Majority Owners Forced to Buy Out Minority Shareholder or Face Dissolution
On the heels of the Zelouf and AriZona Iced Tea cases, this week’s New York Business Divorce highlights yet another interesting fair value contest, decided by Justice Carolyn Demarest, involving a battle of forensic accounting and valuation experts over the alleged skimming of millions in cash receipts at a restaurant. …
Continue Reading Restaurant’s Cash-Skimming Majority Owners Forced to Buy Out Minority Shareholder or Face Dissolution
Court Rejects Potential Acquirers’ Expressions of Interest, Relies Solely on DCF Method to Determine Fair Value of 50% Interest in AriZona Iced Tea
By Peter A. Mahler on
After years of litigation and a lengthy trial, earlier this month Justice Timothy Driscoll released his decision fixing the fair value of the petitioning 50% shareholder’s interest in the AriZona Iced Tea companies. You won’t want to miss it in this week’s New York Business Divorce.
Continue Reading Court Rejects Potential Acquirers’ Expressions of Interest, Relies Solely on DCF Method to Determine Fair Value of 50% Interest in AriZona Iced Tea
Zelouf (Part Two): Fair Value Ruling Addresses Range of Issues
By Peter A. Mahler on
Last week’s post highlighted Justice Kornreich’s rejection of a marketability discount in the Zelouf case, a dissenting shareholder appraisal proceeding. In this week’s Part Two, New York Business Divorce examines a number of additional issues of interest in the Zelouf decision, including tax-affecting, control premium, and damages for quasi-derivative claims. …
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Zelouf (Part One): Marketability Discount Rejected in Fair Value Proceeding
This week’s New York Business Divorce presents the first of a two-part examination of Justice Shirley Kornreich’s must-read decision in Zelouf International v. Zelouf, a dissenting shareholder appraisal proceeding in which the court rejected application of a marketability discount. …
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Court Resolves Trio of Issues in Battling Brothers’ Buy-Out
By Peter A. Mahler on
Two brothers battle it out in a series of disputes over the exercise of a realty partnership buy-out option, resulting in a trio of court decisions by Justice Stephen Bucaria in Abatemarco v Abatemarco, highlighted in this week’s New York Business Divorce.
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The High Price of Bungled Expert Disclosure in Valuation Cases
By Peter A. Mahler on
Appraisal experts provide critical testimony in valuation proceedings. Court rules govern pretrial expert disclosure. In this week’s New York Business Divorce, you can bone up on the disclosure requirements and read about cases in which the parties paid a price for failing to comply with disclosure requirements. …
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Arms-Length Sale of Corporation’s Assets Establishes Value in Stock Appraisal Proceeding
By Peter A. Mahler on
In Matter of Banani, decided last month by Justice Stephen Bucaria, the petitioner in a dissenting shareholder appraisal proceeding asked the court to accept as conclusive evidence of the company’s value the price received in a sale of substantially all the company’s assets. Find out if the court granted the request in this week’s New York Business Divorce. …
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