This article explores the impact of the repurchase liability that arises as a result of implementing an ESOP and suggests how appraisers can handle the repurchase liability when a repurchase liability study has not been conducted. The impact on a sponsoring company's value due solely to the repurchase obligation ranged from 12% to 35% in our study.

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© 2006 American Society of Appraisers
2006
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