In a November 10, 2010 decision by Justice Kapnick, the court in connection with a dissolution proceeding, denied the respondent’s motion to reject certain aspects of the Special Referee’s Report which determined the valuation of the petitioner’s interest in the subject company. Turning to the well settled-law that “New York courts will look with favor upon a Referee’s report,” the court found that the Special Referee properly exercised his discretion in evaluating the credibility of the parties’ expert witnesses and their valuation techniques, and that the record substantiated his findings. The court therefore confirmed all aspects of the report.
Matter of Abraham v. Hanui Lu, Sup Ct, New York County, November 10, 2010, Kapnick, J, Index No. 602895/06