Does a minority discount apply in valuing the shares of the Estate in 349523?

Ontario, Canada


The following excerpt is from Kreitzman Estate v. Kreitzman, 2003 CanLII 43638 (ON SC):

I agree with the position of respondents’ counsel that the determination of whether a minority discount should apply in valuing the shares of the Estate in 349523 is a mixed question of fact and law. The case law suggests that the issue of the application of a minority discount is not simply a question of law. As stated in Rawluk v. Rawluk[2], “Absent any statutory direction, “value” must then be determined on the peculiar facts and circumstances as they are found and developed on the evidence in each individual case.” Leaving aside the absence of any request for leave, I fail to see how the appeal involves an issue of law alone.

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