Judge considers hybrid appraisal process in dispute over $450M transaction

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted February 8, 2024 11:48 AM

A fight between Jonathan H. Paul and Rockpoint Group about his share of a $450 million transaction was supposed to be resolved by a hybrid between the traditional appraisal process and baseball arbitration — with a “settlement appraiser” picking one of the “party appraisals” — but a Delaware chancellor had to umpire a preliminary dispute about the authority of the party appraisers.There was a high-stakes disagreement about which version of the company’s operating agreement applied. Rockpoint’s appraiser concluded Paul was …

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