Smith v. Promontory Financial Group, LLC

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April 30, 2019

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judicial dissolution
goodwill, expert testimony, intangible assets, valuing liabilities, buyout, cash flow, discounted cash flow (DCF), fair market value (FMV), projections, debt, equity value
Smith v. Promontory Financial Group, LLC
2019 Del. Ch. LEXIS 148
US
State Court
Delaware
Court of Chancery
David G. Clarke (plaintiff); Robert P. Schweihs (defendants)
Glasscock

Summary

In buyout dispute, court says parties’ letter of intent states buyout conditions; court relies on amount stated in plaintiff’s debt/equity deal proposal to value subject company, finding parties’ trial experts used methods (DCF and asset accumulation) not suited to valuing subject company.
Smith v. Promontory Financial Group
PDF, Size: 134 KB

See Also

Delaware Chancery Relies on Deal Proposal Valuation in Adjudicating Buyout Dispute

Court Case Digests
April 30, 2019

In buyout dispute, court says parties’ letter of intent states buyout conditions; court relies on amount stated in plaintiff’s debt/equity deal proposal to value subject company, finding parties’ trial experts used methods (DCF and asset accumulation) not suited to valuing subject company.

This article also appears in:
BVR Guide to Management Projections and Business Valuation: Analysis and Case Law