For those interested in appraisal outside the US, the recent text Cross-Border Mergers, now available, containing a chapter on EU appraisal and a discussion of why the EU has not seen a rise in appraisal activity – unlike the US. We thank the author of the chapter, Professor Seretakis, for the excerpt below:
Appraisal
Turkish Commercial Code No. 6102 (TCC), which entered into force on July 1, 2012, brought many novelties to form a modern vision of commercial law, whereas the former rules were inadequate to meet the needs of the practice. The focus was mainly on transparency, auditability, and equivalence among shareholders, and the relevant legislation has adopted
South African firm Cliffe Dekker Hofmeyr (CDH) has published this analysis discussing the mechanics of South African appraisal – a jurisdiction we’ve covered multiple times before. The relatively new appraisal remedy in that country is maturing quickly as courts continue to grapple with various appraisal issues. In the most analysis, CDH discusses a case
Does the valuation method parties pursue, and that a Court uses, matter to the ultimate valuation of a firm? This recent paper studying data from Finnish appraisal of private terms over a 16 year period suggests that the choice of methodology does matter.
For readers of this blog, or those who know of appraisal predominantly
2018 was an active year for South African appraisal, with new caselaw showing a greater maturity to the (relatively recent) appraisal remedy. We covered some developments before.
African law firm Cliffe Dekker Hofmeyr (CDH) has written an extensive summary of South African appraisal law – often referred to as Section 164. CDH notes that (like
Yes, at least according to this article by Nobles Law, a Ukrainian firm.
Ukrainian appraisal appears to borrow some items from Delaware law. Along with a ‘vote no’ requirement (like Delaware), and timing the appraisal notice to the shareholders meeting/vote, Ukraine offers appraisal rights in mergers and certain asset sales.
As we previously covered, a recent South African court decision has clarified the scope of appraisal rights in that country with respect to a deal that was other than a classic merger.
Webber Wentzel, a law firm practicing in South Africa, has written this piece on the decision, concluding, “The decision of the High
A South African trial court has found that an investor who owned shares of a parent company which sold off its operating subsidiary is entitled to appraisal rights. The case concerns the appraisal rights of an activist investor in the company KWV, which had an operating subsidiary that owned liquor assets. According to a press