Forced buyout: Court opts for modified liquidation value

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Abstract: The Michigan Court of Appeals has issued a ruling in a 15-year legal battle over a forced buyout that’s bounced back and forth between the trial and appellate courts. This article discusses the reasons the appellate court affirmed the “modified liquidation value” that the lower court assigned to the family-owned holding company — even though the valuation didn’t account for certain assets and included liquidation expenses. Pitsch v. Pitsch Holding Co., No. 356184 (Mich. App. May 12, 2022).