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Hall v. King

Appellate Division of the Supreme Court of New York, First Department
Oct 26, 1999
265 A.D.2d 244 (N.Y. App. Div. 1999)

Summary

affirming a 25% lack of marketability discount to all corporate assets

Summary of this case from MATTER OF JAMAICA ACQUISITION INC. v. SHEA

Opinion

October 26, 1999

Order and judgment (one paper), Supreme Court, New York County (Stephen Crane, J.).


The IAS court's valuation is supported by the record, and competing interpretations of fact or of the credibility of the evidence are insufficient to warrant reversal (see, Matter of Cohen v. Four Way Features, 240 A.D.2d 225). Under the facts of this case, the use of the net asset method to value the subject ongoing wholesale antique reproduction business was appropriate (see,Matter of Friedman v. Beway Realty Corp., 87 N.Y.2d 161, 165), as was application of a 25% lack of marketability discount to all of the corporate assets in light of the absence of a noncompete clause between the parties (see, e.g., Matter of Cohen, supra,affg 168 Misc.2d 91 ; Lehman v. Piontkowski, 203 A.D.2d 257, lv dismissed 84 N.Y.2d 890).

ELLERIN, P.J., ROSENBERGER, WILLIAMS, WALLACH, ANDRIAS, JJ.


Summaries of

Hall v. King

Appellate Division of the Supreme Court of New York, First Department
Oct 26, 1999
265 A.D.2d 244 (N.Y. App. Div. 1999)

affirming a 25% lack of marketability discount to all corporate assets

Summary of this case from MATTER OF JAMAICA ACQUISITION INC. v. SHEA
Case details for

Hall v. King

Case Details

Full title:RICHARD HALL, Plaintiff-Appellant, v. DONALD KING, etc., et al.…

Court:Appellate Division of the Supreme Court of New York, First Department

Date published: Oct 26, 1999

Citations

265 A.D.2d 244 (N.Y. App. Div. 1999)
697 N.Y.S.2d 19

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