Rappaport v. Gelfand
California Court of Appeals construes “liquidation value” of law firm under partnership buyout statute to require a “construct” of selling assets over time at fair market value, discounted to present value as of the dissociation date.
Fair Value Standard Provides ‘Excessive Relief’ When Oppressed Shareholder Wants to Sell
Texas Court of Appeals affirmed availability of forced buyout remedy for shareholder oppression and held that, when minority oppressed shareholder wants to sell, the fair market value standard (including discounts) is appropriate.
Peterson v. Jackson
Court confirms fair value determination of CPA firm based on income, market, and asset-based approaches; a former buy-in transaction concerning the same firm; and a non-compete agreement that effectively transferred personal goodwill to the enterprise.
Ritchie v. Rupe
Texas Court of Appeals affirmed availability of forced buy-out remedy for shareholder oppression and held that when minority oppressed shareholder wants to sell, the fair market value standard (including discounts) is appropriate.
Doctor Tries to Avoid Divorce Valuation of Practice in Shareholder Dissolution Suit
Court and expert witnesses debate meaning of “book value” of medical practice in buy-sell provision and whether or not the term is net of liabilities.
Federal Court Fashions ‘Unique’ Pricing Remedy in Shareholder Oppression Case
An oppressed minority shareholder sought judicial appraisal of the First Hartford Corp., a company that managed and developed real estate through several subsidiaries, with several attributes that made it unique.
Statutory Fair Value Must Account for Pending Shareholder Derivative Suit
California court holds that statutory fair value appraisal of company in judicial dissolution case must include valuation of pending shareholder derivative claims.
Court Attempts to ‘Balance Extremes of Experts’ in Judicial Buyout Case
Court battles to bridge a $1 million-dollar gap between expert valuation of minority shareholder’s interest in judicial buyout case.
Statutory Appraisals: Louisiana Supreme Court Says Use Discounts ‘Sparingly’
Louisiana Supreme Court preserves the fair market value standard in statutory appraisal cases but finds that marketability and other discounts should be used “sparingly.”
Gremillion v. Nashville Gastrointestinal
Court and expert witnesses debate meaning of “book value” of medical practice in buy-sell provision, and whether or not the term is net of liabilities.
Kaplan v. First Hartford Corp.
Federal district court conducts extensive analysis of expert evidence to make fair value appraisal of unique and complicated real estate development company, relying on net asset value and thinly traded stock market pricing, plus upward adjustments for im ...
Helfman v. Johnson
Court battles to bridge a one-million-dollar gap between expert valuation of minority shareholder’s interest in judicial buyout case.
Cotton v. Expo Power Systems, Inc.
California court holds that statutory fair value appraisal of company in judicial dissolution case must include valuation of pending shareholder derivative claims.
Cannon v. Bertrand (II)
Louisiana Supreme Court preserves the fair market value standard in statutory appraisal cases but finds that marketability and other discounts should be used “sparingly.”
Expert Evidence Helps Decide Partnership ‘Divorce’
Minority partners who retains expert to value health club “win” in dissolution and accounting.
Is a 35% Minority Discount Appropriate in a Statutory Buyout of Real Estate Partnership?
Level of minority discount, fair market value standard, stressed in case involving a statutory buyout of a real estate partnership.
Schuetzle v. Lineberger
Minority partners who retains expert to value health club “win” in dissolution and accounting.
Cannon v. Bertrand (I)
Level of minority discount, fair market value standard, stressed in case involving a statutory buyout of a real estate partnership.
Krzastek V. Global Resource Indutrial and Power, Inc.
Original Wordprocessor Version (NOTE: The status of this decision is .) NOT FOR PUBLICATION WITHOUT THE APPROVAL OF THE APPELLATE DIVISION SUPERIOR COURT OF NEW JERSEY APPELLATE DIVISION DOCKET NO. A-1815-06T21815-06T2 WALTER R. KRZASTEK, Plaintiff-Respondent, v. GLOBAL RESOURCE INDUSTRIAL AND POWER, INC., BARLETTA ENGINEERING AND CONSTRUCTION, INC., BARLETTA HEAVY DIVISION, INC., VINCENT BARLETTA, THOMAS BUCHANAN, and PINELAWN CONSTRUCTORS, LLC, Defendants-Appellants. ___________________________________ Submitted March 5, 2008 - Decided Before Judges Axelrad, Payne and Sapp-Peterson. On ...
Does Fair Value of FLP Include Marketability and Minority Discounts?
Court considers whether discounts apply to statutory fair value appraisal of partnership withdrawal/dissolution.
Fair Value of Real Estate Company Must Include Marketplace Cost and Risks
Court determines fair value of real estate development company using net asset approach.
Winn v. Winn Enterprises, Ltd.
Court considers whether discounts apply to statutory fair value appraisal of partnership withdrawal/dissolution.
Faced With a $1 Million Gap in Appraisals, Court Appoints Its Own Expert
Rejecting both parties’ expert reports, court appoints its own expert to determine value of dissociated partner’s interest from LLC, including applicability of discounts.
Marsh v. Billington Farms, LLC
Court determines fair value of real estate development company using net asset approach.
DeNike v. Cupo
Rejecting both parties’ expert reports, court appoints its own expert to determine value of dissociated partner’s interest from LLC, including applicability of discounts.