In awarding wife a 35% interest in husband’s corporate stock shares in divorce action, court properly credited the neutral appraiser’s valuation based on the formula in the shareholders’ agreement and properly rejected the wife’s expert witness’s valuation, which was significantly higher; neutral appraiser’s report was based on the price in the shareholders’ agreement, which was the only evidence in the record of actual value of the shares, and wife’s expert did not consider the stock transfer restrictions contained in the shareholders’ agreement.
http://www.courts.state.ny.us/reporter/3dseries/2014/2014_02386.htm
Laura W. Morgan is the owner and operator at Family Law Consulting in Charlottesville, Virginia. Laura is available for consultation, brief writing and research on family law issues throughout the country. She can be reached through her website. www.famlawconsult.com
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