Definition of Fair/Market value for a small business?

BenEadir

Hi all,

I'd appreciate it if someone here can give me some guidance on what the accepted definitions in the Irish judicial system are for valuing a small to medium sized business?

I am familiar with regulations and case law in the USA which define standards of value such as "Fair Market Value", "Fair Value", "Orderly Liquidation Value" etc and how they are applied for inheritence/succession planning purposes or dispute resolution between shareholders but I have no idea what equivalent definitions apply here, who sets them and how they are interpreted and applied by the court.

What qualifications does someone have to have to give an expert opinion on the going concern/fair/market value of a business if there is a dispute about same? Can the plaintiff or defendant retain any qualified accountant or does the person have to have special valuation skills and qualifications? Is there a directory of business valuers anyone is aware of who act as expert witnesses? What are the primary cases which set precedent in this area?

Any information you can shed would be greatly appreciated.

Ben

BenEadir

Bump!

Seriously, no one here has any input or contribution to make?

Ben

BenEadir

Wow, I thought there would be someone here with commercial court experience who could help.

Guess not

BenEadir

OK, so despite over a hundred viewings of this thread over the last 6 days nobody has a clue how market value is determined in civil cases or what qualifications someone needs to have in order to provide an expert opinion on the market value of an SME business or part shareholding in same.

Does anyone here know of a legal profession discussion forum who's contributors would know the answer and are likley to be helpful?

Ben

coylemj

Token reply

234

If you're so desperate to know, go to a solicitor.

PCPhoto

commercial court is on vacation until 3rd May !!

BenEadir

MJ, nice one MODS - can you move this thread to the comedy section????

234 - this is a legal discussion forum. Surely it doesn't require a visit to a solicitor to get some insight into this issue? Doesn't anyone here have a positive contribution to make?

PCPhoto - I thought that would generate more interest on this forum not less!!

Ben

234

It looks like either nobody knows or nobody is interested. If you really want to know but don't want to go to a solicitor try getting access to a law library and you might find your answer in there.

BenEadir

Thanks 234 - I guess that's what I'll have to do.

I've been using Boards for years and this is one of the very few times I've had absolutely no relevant contribution back.

Must be a trickier area than I thought.

Ben

234

Well, for my part I know nothing. However, it might just be more boring than you thought!

BenEadir

Maybe you're right 234, maybe it's just too boring!!!

End of thread.

Please close/delete/nuke Mod.

Ben