U.S. District Court Denies Use of Discounts in Determining the Fair Value of a Hotel Holding Corporation in a Dissolution Case

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Court Case Digests
July 14, 2022

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7011 Hotels and Motels
721110 Hotels (except Casino Hotels) and Motels
economic damages & lost profits, shareholder dissent/oppression
damages, fair value, closely held corporation, employment agreement, gift, shareholders, salary
Agnelli v. Lennox Miami Corp.
2022 U.S. Dist. LEXIS 125346
US
Federal Court
Florida
United States District Court
Kathy Conroy; Sheri Fiske Shultz, CPA/ABV; Charlotte Kang, MAI/FRICS; Cameron Cook; Richard S. Fechter, JD, CAMS, CFE
Robert N. Scola

Summary

In this lengthy opinion dealing with the fair value of a 12.5% interest the plaintiff held in a Florida hotel holding corporation, the U.S. District Court determined that discounts for minority interest and for marketability are not allowed. The court also determined damages for the breach of contract, or, in the alternative, breach of fiduciary duty, on the part of the plaintiff.

See Also

Agnelli v. Lennox Miami Corp.

Full Text of Court Cases
July 14, 2022

In this lengthy opinion dealing with the fair value of a 12.5% interest the plaintiff held in a Florida hotel holding corporation, the U.S. District Court determined that discounts for minority interest and for marketability are not allowed. The court also determined damages for the breach of contract, or, in the alternative, breach of fiduciary duty, on the part of the plaintiff.

This article also appears in:
The Comprehensive Guide to Economic Damages, Seventh Edition