Legal Opinion
Brooks v. Brooks Furniture Mfgrs., Inc.
Court of Appeals of Kentucky
Decided October 29, 2010No. 2009-CA-000200-MR, 2009-CA-000280-MRPublishedCited by 2 opinions
1Opinion of the Court
OPINION
THOMPSON, Judge:
J. Hilton Brooks, III, M.D., dissented from a November 30, 2004, merger of Brooks Furniture Mfgrs., Inc., a closely-held family corporation, into BFI Inc., a Tennessee corporation, and demanded payment for his shares. After the issue regarding Hilton’s demand for payment remained unresolved, Brooks Furniture petitioned the Bell Circuit Court to determine the fair value of Hilton’s shares plus accrued interest as provided in KRS 271B.13-300.
The issues presented concern: (1) the net asset book value of the corporation; (2) the application of a marketability discount and a…
2Cases cited22 opinions
- Moore v. AsenteKentucky Supreme Court · 2003
- Cavalier Oil Corp. v. HarnettSupreme Court of Delaware · 1989
- In Re Valuation of Common Stock of McLoon Oil Co.Supreme Judicial Court of Maine · 1989
- Lawson Mardon Wheaton, Inc. v. SmithSupreme Court of New Jersey · 1999
- Rigel Corp. v. CutchallNebraska Supreme Court · 1994
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3Cited by2 opinions
- Shawnee Telecom Resources, Inc. v. BrownKentucky Supreme Court · 2011
- Brooks v. Brooks Furniture Mfgrs., Inc.Court of Appeals of Kentucky · 2010