Olli Salumeria Americana, LLC v. Vosmik

BVLaw
Full Text of Court Cases
January 5, 2018
5147 Meats and Meat Products
445210 Meat Markets
buy/sell agreement
discount rate, expert testimony, income approach, appraisal, buyout, growth rate, enterprise value (MVIC), guideline publicly-traded company method, operating agreement, guideline transaction method, equity value, expert draft report

Olli Salumeria Americana, LLC v. Vosmik
2018 Va. Cir. LEXIS 72
US
State Court
Virginia
Circuit Court
Harold G. Martin (plaintiff); Brian Burns (defendant); Cornerstone Valuations (third-party appraiser)
Snukals

Summary

In buyout dispute, court rejects plaintiff’s request to set aside third-party appraisal performed pursuant to valuation agreement; court notes its limited role and high “palpable error” standard; alleged mistakes were not apparent on face of appraisal and there was no misconduct by appraiser.
Olli Salumeria v Vosmik
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See Also

Claims Against Third-Party Appraisal Crumple Under ‘Palpable Error’ Standard

In buyout dispute, court rejects plaintiff’s request to set aside third-party appraisal performed pursuant to valuation agreement; court notes its limited role and high “palpable error” standard; alleged mistakes were not apparent on face of appraisal and there was no misconduct by appraiser.