Stout was engaged, at the direction of the court, by both parties in a matter pending in Circuit Court in Cook County, IL. The dispute arose due to a disagreement between the executor of an estate and the various trusts and individuals that were beneficiaries of that estate over the value of various closely-held business interests owned by the estate and a transaction for the business interests in which the executor both approved and participated. Each side in the dispute had previously hired their own valuation expert to value the various business interests but the judge was unsatisfied with their conclusions and directed that the parties jointly hire a third-party to provide an objective view as to the valuation of the various business interests.
Stout performed detailed valuation analyses of seven entities engaged in the manufacture and supply of various food ingredients and cooking supplies to the foodservice industry nationwide.
We issued an opinion to the court regarding the valuation of the various business interests and ultimately testified at trial regarding those opinions of value, including being cross-examined by both plaintiff’s counsel and defense counsel. The judge in the matter ultimately made a ruling at values substantially consistent with Stout’s determinations of value.