"Fair Value" is a misunderstood standard of value. While similarly defined in the statutes of the majority of states, the "definitions" provide little guidance for business appraisers. As result, statutory fair value has various and conflicting interpretations by the judiciaries of individual states. We will introduce vocabulary to facilitate discussing fair value concepts, discuss typical problems that arise in statutory fair value proceedings, and look at statutory fair value as interpreted by three states: Delaware, New York and Mississippi.
After this session, you will understand:
§ How statutory fair value is defined in the various jurisdictions (states)
§ What statutory fair value "should" be in a particular state
§ What the appropriate roles for business appraisers and counsel for the parties in statutory fair value disputes are
§ What the potential differences between statutory fair value and fair market value are and why might it be appropriate for appraisers to define statutory fair value in terms of fair market value at a particular level of value, depending on the state
§ How statutory fair value is defined in Delaware, New York and Mississippi and what this means for business appraisers
§ What similarities might there be between statutory fair value and value for purposes of buy-sell agreements
§ What issues arise in transactions giving rise to statutory dissenters' rights because of potential differences between statutory fair value and fair
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- Audio/Video file
- Webinar transcript
- Original Webinar handouts
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