Henry v. Champlain Enterprises, Inc. (I)

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October 28, 2003

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4512 Air Transportation, Scheduled
481111 Scheduled Passenger Air Transportation
ESOP valuations
breach of fiduciary duty, employee stock ownership plan (ESOP)
Henry v. Champlain Enterprises, Inc. (I)
2003 U.S. Dist. LEXIS 19138
US
Federal Court
New York
United States District Court
Robert Dana (for defendants)
Hurd

Summary

In this case, a purchase for the ESOP was valued incorrectly, the IRS determining that the valuation did not take into consideration the lack of marketability due to the remaining shares...
Henry v. Champlain Enterprises, Inc. (I)
PDF, Size: 215 KB

See Also

Motion to Exclude Banker Using DCF Method Denied

Legal and Court Case Update
February 2004

Participants in CommutAir’s Employee Stock Ownership Plan brought this ESOP litigation alleging numerous claims of breach of fiduciary duty by the trustee and others involved in the ESOP.