The Evidence of the SJE
55.Mr Bezant carried out two reports on the valuation of the business and related issues. The first was dated September 2020 and the second April 2022. The second valuation was markedly lower than the first. There has been no challenge to the calculations that he has done save as to the four issues identified above.56.The valuation of a private company is a highly speculative business. The courts have commented on this on a number of occasions. It is so well known as not to need authority. It is illustrated graphically in this company where there has been a marked reduction in value between the two reports of Mr Bezant.57.Mr Bezant’s sum of the parts (SOTP) valuation produced a figure for the whole of the company inclusive of its underlying entities in the sum of $108m and H’s personal holdings of $22.9m.
- Approved Judgment
- SIR JONATHAN COHEN:
- The History of the Marriage
- ABC and its value
- The Evidence of the SJE
- The Upside Valuation
- E v L [2021] EWFC 60 (Fam)
- The Asset Schedule
- Post Separation Endeavour
- W’s Earnings
- H’s income
- Standard of Living
- The Children’s Costs
- The Parties’ Proposals
- Liquidity
- Resolution
- Fairness
- Time for Payment
- Nominal Spousal Maintenance
- Child Maintenance