Here’s what you’ll see: • DLOMs in N.Y. Fair Value Cases: Private Company Discounts Are Not Caused by Lack of Marketability (Gilbert E. Matthews). The author believes no private-company discount is attributable to closely held or private company status as such, and he presents his thinking in...
Issue #164-3 - Free Content
In the February 10 issue of BVWire, we highlighted the article "NY’s Unfair Application of Shareholder-Level Marketability Discounts," written by Gil Matthews (Sutter Securities). The article has rekindled the debate over New York's out-of-step position with respect to the discount for lack of...
Issue #161-4 - Free Content
A fingertip guide to what’s going on in the BV world is a new regular feature in Business Valuation Update. The guide, BV News At-a-Glance, is a quick summary of key developments from the standard setters, regulators, and VPOs, as well as noteworthy new books, research papers, and studies of...
Issue #161-3 - Free Content
Many readers commenting on the (mis)application of a marketability discount in New York statutory appraisal actions agree the problem lies with judges who lack training in valuation concepts and often build their value determinations on questionable or stale precedent (see last week’s BVWire).
Issue #162-1 - Free Content
A blog post by New York attorney Peter Mahler (Farrell Fritz) in the New York Business Divorce blog discusses an article in Business Valuation Update, "NY’s Unfair Application of Shareholder-Level Marketability Discounts," written by Gil Matthews (Sutter Securities). New York's out-of-step position...
Issue #161-2 - Free Content
New York's out-of-step position with respect to the discount for lack of marketability in fair value proceedings is a hotly debated issue—and it’s getting even hotter. A "new note" in the debate was sounded in an article in the January issue of Business Valuation Update, according to a blog post by...
Issue #161-1 - Free Content
This article is excerpted from a longer paper prepared by Gil Matthews for presentation at the ABA Family Law Section's National Business Valuation Conference to be held May 3-5 in San Francisco, Cali...
Gilbert E. Matthews
Guest Article (3,469 words)
Judges & Lawyers, April 2001
Shareholder Dissent: Current Issues
This paper outlines recent developments and trends in Canadian and United States case law afecting the determination of "fair value" and other related issues with respect to shareholders who exercise their rights to dissent under the appraisal-remedy prov...
Richard M. Wise
CICBV Publications (11,600 words)
BVWire’s coverage of recent developments in DLOM has sparked some lively discussions. The dialog over discounts in fair value proceedings involving dissenting shareholder appraisals and oppressed minority shareholder buyouts has spilled over into social media. Bad behavior in NJ: Last week’s...
Issue #161-3 - Free Content
The statutory standard of value in dissenting shareholder cases in most states is "fair value." New York and 47 other states use the "fair value" standard in appraisals. As a valuation measure, most states interpret fair value as the shareholder’s pro ra...
Gilbert E. Matthews, Michelle Patterson
Guest Article (4,015 words)
Business Valuation Update, January 2016
Coverage continues of the BV conference season. We have added a new regular feature for 2016: BV News At-a-Glance, which is a monthly roundup of key developments from the standard setters, regulators, and valuation professional organizations (VPOs), as well as noteworthy new books, research papers...
Issue #159-3 - Free Content
FAIRNESS OPINIONS Gilbert E. Matthews Chairman and Senior Managing Director Sutter Securities Incorporated 1 Sansome Street, Suite 3950 San Francisco, CA 94104 (415) 288...
Gilbert E. Matthews
Articles (10,159 words)
Valuation Issues in Shareholder Dissent & Oppression
Valuation Issues in Shareholder Dissent & Oppression A BVR Webinar Webinar Handbook October 21, 2010 Presenters: Jay Fishman, FASA Gilbert E. Matthews, MBA, CFA...
Gilbert E. Matthews, Jay E. Fishman
Training Event Transcripts (18,951 words)
As an appraiser, I have had the opportunity to prepare many valuations for New York statutory fair value cases, and I have testified in some of them. I’d like to weigh in on the topic of discounts for lack of marketability (or DLOMs) as a follow up to the...
William C Quackenbush
Guest Article (1,841 words)
Business Valuation Update, March 2016
Case Law Update: The Latest in Lost Profits and Motions to Exclude Experts
BVR’s Online Symposium on Litigation & Economic Damages: Part 13 Case Law Update: The Latest in Lost Profits and Motions to Exclude Experts A BVR Webinar Webinar Handbook August 29, 2012 Presenters: Nancy J. Fannon Jonathan M. Dunitz Please note...
Jonathan M. Dunitz, Nancy J. Fannon
Training Event Transcripts (22,516 words)