Valuation of Real Estate Company Share Following Partner Death Due to Unilateral Expert Appointment
Synthèse Legislator
Généré par l'IAA dispute arose concerning the valuation of a share in a civil real estate company following the death of one associate, where the articles of association stipulated that surviving partners had the right to purchase the deceased's share at a price determined by experts appointed jointly by the parties, or failing agreement, by a court-appointed expert, but the surviving partners unilaterally appointed an expert, leading to a disagreement over the valuation method. The court upheld the lower court's decision to annul the valuation, reasoning that the contractual requirement for joint appointment of the initial expert was a mandatory prerequisite for determining the share price, and unilateral action by the surviving partners vitiated the valuation process established by the contract.
Regeste Legislator
Généré par l'IAValuation of Real Estate Company Share Following Partner Death Due to Unilateral Expert Appointment: The court upheld the lower court's decision to annul the valuation, reasoning that the contractual requirement for joint appointment of the initial expert was a mandatory prerequisite for determining the share price, and unilateral action by the surviving partners vitiated the valuation process established by the contract.