The privately held U.S. producer of AriZona iced tea might face insolvency if the judge overseeing a dispute between its founders sets its value at $3 billion or greater, a lawyer for the co-owner running the company said yesterday, Reuters reported. During closing arguments in New York state court, Louis Solomon, an attorney for Beverage Marketing USA Inc. co-owner Domenick Vultaggio, said that the AriZona beverage maker should not be forced to buy out estranged business partner John Ferolito based on "la la land" numbers. The closing arguments capped a valuation trial to determine how much Vultaggio and Beverage Marketing must pay to buy the 50 percent stake held by the Ferolito and his son's trust. Nicholas Gravante, Ferolito's attorney, countered the company has many suitors willing to pay billions of dollars, including Tata Global Beverages Ltd, Nestlé SA and Coca-Cola Co, among others.
http://www.reuters.com/article/2014/09/04/arizonaicedtea-trial-idUSL1N0…
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