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Fair value in the BVI: Guidance on property valuation and minority discounts from Ming v JF Ming Inc
The decision of Justice Mangatal in Ming v JF Ming Inc is the latest judgment from the long-running family dispute and unfair prejudice proceedings over JF Ming Inc (JFM), a BVI holding company with subsidiaries holding substantial real estate in Hong Kong. The judgment is notable as it is the first detailed BVI decision that deals with the valuation of real estate-holding companies in Hong Kong in unfair prejudice proceedings and the question of whether a minority discount should be applied in a non-quasi partnership case. In 2014, the Claimants, three of seven siblings, jointly commenced…
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