MATTER OF MURPHY v. U.S. DREDGING CORPORATION

2009-01801.

74 A.D.3d 815 (2010)

903 N.Y.S.2d 434

In the Matter of EDWARD MURPHY et al., Respondents-Appellants, v. UNITED STATES DREDGING CORPORATION, Appellant-Respondent, et al., Respondents.

Appellate Division of the Supreme Court of New York, Second Department.

Decided June 1, 2010.


Ordered that the judgment is reversed insofar as appealed and cross-appealed from, on the law and the facts, without costs or disbursements, and the matter is remitted to the Supreme Court, Nassau County, for (1) recomputation of the fair value of the petitioners' 36.77% interest in United States Dredging Corporation by disallowing the liability of $2,000,000 for the officers' pensions, and using a 6.7% pretax rate of return on working capital in the sum of $6,450,000, (2...

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