Fair Value Standard Does Not Preclude Use of Net Asset Approach, Court Affirms

BVLaw
Court Case Digests
August 3, 2020

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3532 Mining Machinery and Equipment, Except Oil and Gas Field Machinery and Equipment
333131 Mining Machinery and Equipment Manufacturing
shareholder dissent/oppression
discount for lack of control (DLOC), expert testimony, fair value, net asset value, discount for lack of marketability (DLOM), dissenting shareholder, going concern, liquidation, statutory appraisal
Henley Mining v. Parton
2020 U.S. Dist. LEXIS 139692
US
Federal Court
Kentucky
United States District Court
Unknown (plaintiff/company); Basil Jefferson Grizzle, John Herring (defendant/dissenting shareholder)
Van Tatenhove

Summary

In statutory appraisal case, court denies summary judgment motion arguing opposing expert’s valuation fails to meet legal definition of fair value, i.e., “the value of the company as a whole and as a going concern”; court says controlling case law does not preclude use of net asset value method.

See Also

Henley Mining v. Parton

Full Text of Court Cases
August 3, 2020

In statutory appraisal case, court denies summary judgment motion arguing opposing expert’s valuation fails to meet legal definition of fair value, i.e., “the value of the company as a whole and as a going concern”; court says controlling case law does not preclude use of net asset value method.