Clark v. ClarkAnnotate this Case
George and Patricia Clark married in 1987 and filed for divorce twenty-five years later in 2012 after Husband discovered Wife had a multi-year affair with one of Husband's employees. In this cross-appeal concerning the apportionment of marital assets, the issues before the South Carolina Supreme Court stemmed from the valuation of a minority interest in a family-held business. Specifically, the question was whether the court of appeals erred in its handling of the family court's application of two discounts when determining the fair market value of a 25% interest for purposes of equitable apportionment: one for marketability and the other for a lack of control. Relying on Moore v. Moore 779 S.E.2d 533 (2015), the court of appeals rejected the marketability discount but applied the lack of control discount. The Supreme Court affirmed in part and reversed in part, reiterating that the applicability of these discounts was determined on a case-by-case basis.