AMERICAN ETHANOL, INC. v. CORDILLERA FUND

No. 54779.

252 P.3d 663 (2011)

AMERICAN ETHANOL, INC., A Nevada Corporation; and AE Biofuels, Inc., a Nevada Corporation, Appellants, v. CORDILLERA FUND, L.P., A Texas Limited Partnership, Respondent.

Supreme Court of Nevada.

May 5, 2011.


Attorney(s) appearing for the Case

Holland & Hart LLP and Jeremy J. Nork and Ethan J. Birnberg , Reno, for Appellants.

McDonald Carano Wilson LLP and Craig A. Newby and William A.S. Magrath II , Las Vegas, for Respondent.

Before CHERRY, GIBBONS and PICKERING, JJ.


OPINION

By the Court, CHERRY, J.:

In this appeal, we examine the definition of "fair value" as prescribed by the stockholder right-to-dissent statutes. We adopt a flexible approach in determining fair value, whereby the district court should evaluate a number of relevant factors in determining fair value.

Furthermore, we determine who bears the burden of proving the fair value of a stockholder's corporate shares in a stockholder's right-to...

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