Valuation Held Preferable to Judicial Sale

In Parker v. Parker, 980 So.2d 323 (Miss.App. 2008), the Mississippi Court of Appeals held that the trial court should not have ordered a judicial sale of businesses that were marital property in a divorce action. The trial court sold the businesses because the parties failed to comply with an order directing them to obtain accurate and up-to-date business valuations. On appeal, the Mississippi court held that the trial court could have appointed a business valuation professional or divided the property in kind.

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