In last month's issue, we discussed the necessity, in divorce cases as well as in various business-related proceedings, of applying a discount to the value of shares in closely held corporations because of these assets' lack of liquidity.
Discounts on Closely Held Corporate Shares
The Appellate Division, Second Department, has interpreted <i>Friedman,</i> discussed last month, in a more restrictive way than was suggested by the Court of Appeals. Is this interpretation the correct one?
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