Share Valuation Dispute Upholding Expert Appraisal

The case concerned a dispute over the binding valuation of company shares by an expert appraisal, as stipulated in a prior gifting agreement for exiting shareholders. The appellant argued the initial expert valuation was non-binding due to significant differences (up to 26.1% when factoring in an unconsidered pension obligation) compared to a subsequent court-appointed expert opinion. The court reasoned that the binding nature of an expert appraisal must be judged based on the overall result, not isolated deviations in individual line items, especially in complex company valuations where expert discretion is significant and where many challenged valuations lacked proper supporting documentation; applying analogous practice from inheritance appraisals, the court found the initial appraisal’s overall result was not demonstrably and substantially incorrect, upholding the lower court's decision to enforce the initial valuation.