Opinion ID: 2772691
Heading Depth: 2
Heading Rank: 2

Heading: The Cave Creek Transaction

Text: [¶12] In 2010, when the matriarch Sal Forbes was ill, the trustees determined that the BRT should acquire her house and property, known as “Cave Creek,” in an attempt to keep that property in the family after her death. To accomplish this, the BRT acquired 3 The hypothetical aspect of the appraisal was that it was to value 35 acres out of 1,500 acres that Cam owned, without identifying which 35 acres. 3 the house and 72 acres, valued at $1,233,000, in exchange for 70 newly-issued shares in the BRT. Neither the Cave Creek transaction nor the issuance of 70 new BRT shares for that transaction were relied upon by the district court in its Findings of Fact, Conclusions of Law and Judgement [sic].