Herremans v. Fedo (In re Herremans)

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July 18, 2023

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5812 Eating and Drinking Places
722511 Full-Service Restaurants
bankruptcy, shareholder dissent/oppression
damages, fair value, restaurant, shareholder oppression, appraisal, real estate, stock, balance sheet, fair market value
Herremans v. Fedo (In re Herremans)
2023 Bankr. LEXIS 1800; 2023 WL 4611429
US
Federal Court
Michigan
United States Bankruptcy Court
Paul A. Wassink, CPA; Stacey L. Broersma
James W. Boyd

Summary

This case involved a hotly contested battle over the fate of a Ponderosa restaurant in Michigan. The two owners, having had a falling out, pursued contentious litigation to wrest control of the restaurant from each other. Having no business valuation available to the court, the court was left with a real estate appraisal and limited evidence of assets and liabilities to determine the fair value of a 50% interest in the restaurant to be used in the buyout of one of the shareholders by the other shareholder.
Herremans v. Fedo
PDF, Size: 194 KB

See Also

Bankruptcy Court Determines Fair Value Under Asset Approach With ‘Limited Evidence’ Available to It

Court Case Digests
July 18, 2023

This case involved a hotly contested battle over the fate of a Ponderosa restaurant in Michigan. The two owners, having had a falling out, pursued contentious litigation to wrest control of the restaurant from each other. Having no business valuation available to the court, the court was left with a real estate appraisal and limited evidence of assets and liabilities to determine the fair value of a 50% interest in the restaurant to be used in the buyout of one of the shareholders by the other shareholder.