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"The decline was primarily due to a conservative adjustment in the fund's holdings of LightSquared, to be consistent with the results of work done by the Fund's third party valuation firm," a Harbinger representative said in a statement.
A third party valuation of what it would be worth if the station was renamed for a 10-year period was put at £11.7m, in addition to implementation costs of £3m.
That means a more costly third party "valuation," rather than the less rigorous third party "appraisal".
The closeout payoff is specified in reference to the third party valuation, which is based on a single risk-free rate (not available to the two parties) and thus it is given by the standard Black-Scholes model.
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GB: We reviews various third party valuations like House Canary and Zillow, as well as our own proprietary analyses and data set, including information gleaned from activity on the Roofstock marketplace, to provide a valuation range.
It also said that Cartesian itself had used a third-party valuation firm to determine its value.
There was no parliamentary debate, no proper feasibility study and no third-party valuation of the hydrofoils.
This is often done by hiring a third-party valuation expert.
In a March interview Ribotsky told Forbes, "Our valuations are independently valued through a firm called WTAS which is a third-party valuation firm".
The subpoena comes the same day NIR Group said it had hired a new third-party valuation service, after trumpeting the services of its former valuation firm to combat accusations of phony returns just four days earlier.
Speculation had previously been that it would go for between $15 billion and $20 billion, and a third-party valuation analysis that Zynga had provided in a recent filing amendment indicated it was worth $14.05 billion.
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