Buyout Agreement Short-Circuits Court’s Scrutiny of Appraisals

Business Valuation UpdateVol. 20 No. 7
Legal and Court Case Update
July 2014

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6282 Investment Advice
523920 Portfolio Management
contract
buyout, calculation report, fair market value (FMV), operating agreement
Leone v. Owsley
2014 U.S. Dist. LEXIS 49700
April 10, 2014
US
Federal Court
Colorado
United States District Court
Mitchell Hoffman (plaintiff); St. Charles Capital, LLC; Intrinsic (defendants)
Brimmer

Summary

Court says determination of repurchase price of departing partner’s stake is subject to operating agreement giving defendants absolute control over valuation; absent bad faith conduct, court declines to scrutinize appraisals underlying buyout offer.

See Also

Leone v. Owsley

Full Text of Court Cases
April 10, 2014

Court says determination of repurchase price of departing partner’s stake is subject to operating agreement giving defendants absolute control over valuation; absent bad faith conduct, court declines to scrutinize appraisals underlying buyout offer.