by Royer Advisors | Dec 11, 2024 | Court Rulings, Divorce Litigation, Valuations
Allison v. Allison A Michigan divorce case that centered on the non-owner spouse’s right to the appreciation in value of allegedly separate property is informative as it shows what factors the court considers for its active/passive analysis. However, the size of the...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
In re Appraisal of SWS Group, Inc. Only days after deferring to the merger price in the PetSmart case, the Delaware Court of Chancery opted for the discounted cash flow analysis in the instant appraisal proceeding. This case, which featured a bank holding company,...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
In re PetSmart, Inc. A statutory appraisal decision from the Delaware Court of Chancery offered a familiar valuation contest between the discounted cash flow analysis and the merger price. Shareholders opposed to the going-private merger of PetSmart claimed that their...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Valuations
Brundle v. Wilmington Trust N.A. (Brundle II) Three months after ruling the ESOP trustee was liable for causing the plan to overpay, the court had a chance to revisit its decision in the context of the trustee’s motion for reconsideration. While the court admitted to...
by Royer Advisors | Dec 11, 2024 | Valuations
Brundle v. Wilmington Trust N.A. The case involved a short-lived ESOP whose structure was unusual in that the sellers—the principal shareholders in a private security firm—agreed to sell 90% of their shares to the ESOP and exchange the remaining 10% for warrants. The...
by Royer Advisors | Dec 11, 2024 | Court Rulings, Divorce Litigation, Valuations
Jensen v. Jensen, 2018 Mich. App. LEXIS 40 (Jan. 9, 2018) This Michigan divorce case involving an S corporation that was the owner’s separate property raised a number of valuation-related questions, including an issue of first impression: Are the earnings a closely...
