Business Valuation Report Has ‘Palpable Error’

By Deborah Elkins
Published: May 9, 2011

Tags: Corporate, Judge Charles N. Dorsey, Roanoke Circuit Court, Virginia Circuit Courts

In construing an S corporation’s Redemption Agreement to allow an ailing principal to cash out his shares, a Roanoke City Circuit Court says there is “palpable error” on the face of the independent appraiser’s report, which may let the remaining principals out of that appraiser’s $3.5 million valuation of the money management business. Plaintiff Peter Dawyot, ...

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