In Re: Appraisal of Metromedia

VERDICT

Trial
12/12/08 – 12/17/08

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Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2

Summary

Various hedge funds seek appraisal of Metromedia International Group.

Outcome

The “fair value” in the appraisal proceeding amounted to $38.92 for each preferred share ($9.52 + $29.40) in accordance with the certificate of designation. Interest was also awarded on the $38.92 per share judgment amount at 5.0% over the Federal Reserve Discount Rate from the appraisal date until final judgment is paid, compounded quarterly. Neither a liquidation event nor redemption had occurred.

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