New York's highest court addresses election and valuation issues in freeze-out case

Business Valuation Update BVLaw
Legal and Court Case Update
May 1, 2001
judicial dissolution
fair value, discount for lack of marketability (DLOM), shareholder agreement, election to purchase

In re Penepent Corp.
750 N.E.2d 47, 2001 N.Y. LEXIS 978
US
State Court
New York
Supreme Court
Rosenblatt

Summary

by Peter A. Mahler, Esq. * In 1979 New York enacted legislation authorizing judicial dissolution proceedings by oppressed minority shareholders of closely held corporations. The statut ...

See Also

In re Penepent Corp.

At issue is the fair value of sharelholder's stock in Penepent Corporation after death.