Court Determines Fair Value of 50% Interest in Real Estate Company—Parties Could Not Agree on Value

BVLaw
Court Case Digests
October 20, 2022
6531 Real Estate Agents and Managers
531210 Offices of Real Estate Agents and Brokers
judicial dissolution
business valuation, discount for lack of control (DLOC), fair value, appraisal, asset value, capitalization rate, discount for lack of marketability (DLOM), discounts & premiums, fair market value (FMV), comparable, deduction, shareholders

Buccieri v. New Hope Realty, Inc.
2022 Conn. Super. LEXIS 2230
US
State Court
Connecticut
Superior Court
Michael McGuire; Patrick Wellspeak; Dennis Kremer; John DelGrego
Charles T. Lee

Summary

This case arose out of a dispute between the surviving family and a trustee of the founders of New Hope Realty Inc. The parties could not agree on the management and operations of New Hope Realty. On July 7, 2020, a dissolution proceeding was commenced. The defendants elected to purchase the plaintiffs’ shares. Subsequently, the parties could not agree as to the fair value of the plaintiffs’ interest. The plaintiffs asked the court to determine the value. The court held hearings including testimony from expert witnesses from both parties and determined the fair value.

See Also

Buccieri v. New Hope Realty, Inc.

This case arose out of a dispute between the surviving family and a trustee of the founders of New Hope Realty Inc. The parties could not agree on the management and operations of New Hope Realty. On July 7, 2020, a dissolution proceeding was commenced. The defendants elected to purchase the plaintiffs’ shares. Subsequently, the parties could not agree as to the fair value of the plaintiffs’ interest. The plaintiffs asked the court to determine the value. The court held hearings including testimony from expert witnesses from both parties and determined the fair value.