Balance Sheet Dated Two Months After Shareholder Withdrawal Not Evidence of Fair Value on Date of Withdrawal

Business Valuation UpdateVol. 10 No. 5
Legal and Court Case Update
May 2004
8721 Accounting, Auditing, and Bookkeeping Services
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judicial dissolution

Spivey v. Page
2004 Tenn. App. LEXIS 132
February 24, 2004
State Court
Court of Appeals
Thomas T. Pennington


The issue in this case was whether the trial court erred in determining the value of a 50% shareholder interest in a professional corporation on the date the shareholder withdrew from the corporation.

See Also

Spivey v. Page

This appeal involves a question of valuation of the shares of a withdrawing shareholder from a professional corporation. We reverse the trial court’s determination that the shares had no value and hold that the valuation should have been made as of the ...