Sproule v. Johnson

BVLaw
Full Text of Court Cases
March 17, 2022
0191 General Farms, Primarily Crop
111998 All Other Miscellaneous Crop Farming
shareholder dissent/oppression
business valuation, appraisal, buyout, liquidation, stock, partnership dissolution, dissolution, taxes

Sproule v. Johnson
2022 ND 51; 2022 N.D. LEXIS 56; 971 N.W.2d 854; 2022 WL 803346
United States
State Court
North Dakota
Supreme Court
Gerald W. VandeWalle; Daniel J. Crothers; Jerod E. Tufte; Douglas A. Bahr; Bruce B. Haskell

Summary

In this partnership dissolution case, the North Dakota Supreme Court affirmed the district court’s decision to use an appraisal of the Canadian entity as of 2019 instead of a value from an earlier agreement in principal. The later date was within the purview of the district court’s flexibility. Further, the Supreme Court affirmed the district court’s decision not to reduce the value of a partnership asset of stock in a Canadian corporation for taxes.
Sproule v. Johnson
PDF, Size: 734 KB

See Also

North Dakota Supreme Court Affirms Valuation Date, Affirms No Deduction for Taxes in Determining Stock Value

In this partnership dissolution case, the North Dakota Supreme Court affirmed the district court’s decision to use an appraisal of the Canadian entity as of 2019 instead of a value from an earlier agreement in principal. The later date was within the purview of the district court’s flexibility. Further, the Supreme Court affirmed the district court’s decision not to reduce the value of a partnership asset of stock in a Canadian corporation for taxes.