Judge Laro's views on discounts & valuation reports
Valuation is a fascinating subject because, like beauty, value is in the perception of the beholder. As early as 42 B.C., Publilius Syrus said "Everything is worth what its purchaser will pay for it ...
Conduct of the parties now a factor in New Jersey fair value determinations
Two recent New Jersey Supreme Court business valuation decisions seem to have established the principle that the behavior of a party seeking a fair value determination can play a role in determining ...
Section 1033 Election Does Not Prohibit Built-In Capital Gains Tax Deduction
The U.S. Court of Appeals for the Sixth Circuit reversed the Tax Court's decision denying the estate a deduction for built-in capital gains taxes embedded in four parcels for real property held by two closely held corporations. The parcels were under the ...
Estate of Welch v. Commissioner (II)
At issue is whether the estate had the right to discount the value of corporate stock to reflect a built-in capital gains tax liability on corporate real estate.
6th Circuit Estate Tax Appeal Allows Capital Gains Discount
The issue in this estate tax appeal is whether the petitioners were entitled to apply a discount for a built-in capital gains tax liability on real estate in valuing the stock of the corporation owning the real estate.
S corps and the capital gains game
"Are S Corporations Entitled to Valuation Discounts for Embedded Capital Gains?" James J. Reto, Valuation Strategies , January/February 2000, pp. 6-9, 48. Courts have recognized the tax consequence ...
Burnham v. Romano
At issue is the fair value of a minority interest pursuant to Business Corporation Law § 1118.
Burnham v. Romano
In this case, the appellant, a minority shareholder, sought dissolution of the corporation while the remaining shareholders elected to purchase his interest in the corporation.
Appraisal Action Exclusive Remedy for Dissenters
Defendants Robert Genser and Robert Rosenstock owned approximately 72% of Briggs Leasing Corp.
'Excess Capital' Issue in Dissent Case
Marks Berens, minority shareholder in Marquette Bank Shakopee, was required to surrender his shares pursuant to a consolidation by the majority shareholder of the bank (a bank holding company).
Business Valuation Digest, Valuation Information, Inc.
Business Valuation Digest, Valuation Information, Inc., 1530 Rochester Rd. Royal Oak, MI 48067, (248) 584-4308, $100 per year introductory offer through Feb. 28, 1999, $125 thereafter. Valuation In ...
Berens v. Ludwig
At issue is the valuation of the plaintiff's minority interest in a national bank.
Settles v. Leslie
At issue is the clamin by minority shareholders of a closely held corporation of breach of fiduciary duty by the corporation's majority shareholders, who allegedly missappropriated corporate funds.
Judicial Appraisal Exclusive Remedy for Indiana Shareholders
Plaintiffs were minority shareholders of Mi-Tech Metals Inc., an Indiana corporation.
Grace v. Rosenstock
At issue is a claim by the plaintiffs of breach of fiduciary duty.
Controlling Stockholders Have No Duty to Share Control Premium Received
NCC Industries is a publicly traded Delaware corporation involved in the garment business.
Adjusting usually inappropriate when valuing a minority interest
I have read both in your books and in the Reader/Editor Exchange of your newsletter how certain adjustments, or lack thereof, consider a closely-held companys earning capacity in light of t ...
Herzog, Heine, Geduld, Inc. v. NCC Industries
Plaintiffs alleged breach of fiduciary duty based on majority shareholders sale of stock at a control premium price, where public sale price dropped significantly thereafter.
Minority Shareholder Retains Rights Until Legal Title Is Relinquished
Minority shareholder (Plaintiff) was employed by Drever Partners Inc., a closely held company, and later became the chief operating officer of the company.
Stephenson v. Drever
At issue are the rights of the plaintiff, a minority shareholder, during the postemployment period necessary to determine the value of his shares pursuant to the buy-sell agreement.