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Guge v. Kassel Enterprises, Inc.
Susan A. Guge and Peggy McDonald, Plaintiffs-Appellees
Kassel Enterprises, Inc., Craig L. Kassel and Deborah M. Kassel, Defendants-Appellants
Kassel Farms, Inc. and Great Oaks Farms, Inc., Defendants
Attorneys for Appellees
Mark C. Feldmann
Justin E. LaVan
Benjamin J. Kenkel
Attorneys for Appellants
Thomas D. Hanson
Court of Appeals
Court of Appeals Opinion
Opinion Number:
Date Published:
Summary
Appeal from the Iowa District Court for Palo Alto County, Charles Borth, Judge. AFFIRMED. Heard by Vaitheswaran, P.J., Ahlers, J., and Mullins, S.J. Opinion by Mullins, S.J. (18 pages)
Defendants appeal two district court rulings following a remand in corporate-dissolution litigation, the first being the court’s determination and application of a discount rate for transaction costs and the second being the court’s award of appellate attorney fees to the plaintiffs. As to the first ruling, the defendants argue they were deprived of their right to appear, present evidence, and be heard following remand, and the court erred in its credibility assessments as to the expert witnesses. As to the second, they argue the court was without jurisdiction to award appellate attorney fees and the court abused its discretion in entering the award. OPINIONS HOLDS: We reject the defendants’ claim that the remand order mandated that they be provided an opportunity to appear, present evidence, and be heard. Finding the district court’s credibility finding supported by the record, we reject the defendants’ challenge to the district court’s credibility assessment and, by extension, its fair-value determination. We conclude the district court had authority to entertain the plaintiffs’ application for appellate attorney fees, and we are unable to conclude the award was based on grounds that are clearly unreasonable or untenable