02-0337-FT Murphy v. MCC Inc., et al.

By: dmc-admin//July 8, 2002//

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MCC, Inc., appeals an order interpreting a stock redemption agreement and choosing an appraiser in a declaratory judgment action by the Murphys to determine the value of MCC’s shares. The order confirms that any valuation will include all of MCC’s personal property and authorizes the appraisers recommended by the Murphys to utilize business enterprise valuation (BEV) to determine the value of MCC’s shares. MCC argues that the agreement unambiguously requires the use of an “assets minus liabilities” approach to value the Murphys’ shares in MCC.

We agree and reverse that portion of the order. Also, we affirm the trial court’s determination that all of MCC’s personal property will be included in the valuation.

This opinion will not be published.

Dist III, Outagamie County, Luebke, J., Per Curiam

Attorneys:

For Appellant: Douglas D. Hahn, Appleton; John R. Teetaert, Appleton

For Respondent: Michael B. Apfeld, Milwaukee; Daniel T. Flaherty, Appleton; Craig Kubiak, Appleton

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