Paskill Corp. v. Alcoma Corp.

BVLaw
Full Text of Court Cases
March 7, 2000
6719 Offices of Holding Companies, NEC
551112 Offices of Other Holding Companies
dissenting shareholder
fair value, net asset value, american institute of certified public accountants (AICPA), cash-out merger

Paskill Corp. v. Alcoma Corp.
747 A.2d 549,2000 Del. LEXIS 117
US
State Court
Delaware
Supreme Court
Holland

Summary

At issue is the fair market value of minority shareholder's stock at the time of a merger.

See Also

'Net Asset Value' Rejected as Form of Liquidation

This appeal arose out of a cash-out merger of the minority stockholders of a closed-end investment fund known as Okeechobee Inc.

Court Denies Deduction of Trapped in Capital Gains Tax; Disallows Deduction for Liquidation Costs

This appeal arose out of a cash-out merger of the minority stockholders of a closed-end investment fund known as Okeechobee Inc. (Okeechobee).

Fair Value Cannot Be Determined Using Net Asset Value Alone

The Delaware Supreme Court ruled that a corporation valued pursuant to the appraisal statute could not be valued solely by reference to its net asset value because net asset value equates to the theoretical liquidation value. The statute states that a bu ...