Texas Court Axes $53M Award In Suit Over Real Estate JV

Law360, Houston (May 9, 2013, 5:24 PM EDT) -- A Texas appeals court on Thursday reversed a commercial real estate investor’s $52.6 million judgment against his former business partner, ruling he hadn't sufficiently proved the value of his interest in a joint venture he claims was stolen from him.

The Fourteenth District Court of Appeals held that expert testimony regarding the value of Matthew Minnis’ stake in a portfolio of industrial properties he acquired with Jacob Citrin was unreliable because the expert had based his opinion on speculative valuations created by an analyst working for...
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