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of petitioner’s other expert, Sullivan, to be credible. Sullivan
was qualified as an expert in various areas, but his single
opinion was that FNBC’s adjustments to its midmarket values were
consistent with the industry practices for taking adjustments.
Sullivan is an accountant who has been advising his clients
worldwide on that issue for some time. Sullivan’s knowledge of
industry practice also was gleaned primarily from his few clients
in the financial derivative area whom he has been advising as to
that issue. Sullivan also endorsed petitioner’s administrative
expenses adjustment as consistent with industry practice but then
acknowledged that he actually was unaware of how other dealers
computed that adjustment.
____________________________________________
We have considered at length each argument of the parties.
All arguments not discussed herein are without merit or
irrelevant. To reflect the foregoing,
Decisions will be entered
under Rule 155.
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