https://bugs.documentfoundation.org/show_bug.cgi?id=94079

            Bug ID: 94079
           Summary: NETWORKDAYS gives error #VALUE! when Holidays range is
                    empty
           Product: LibreOffice
           Version: 5.0.1.2 release
          Hardware: Other
                OS: All
            Status: UNCONFIRMED
          Keywords: regression
          Severity: major
          Priority: high
         Component: Calc
          Assignee: libreoffice-bugs@lists.freedesktop.org
          Reporter: mikekagan...@hotmail.com

Steps to reproduce:

1. Create an empty calc sheet
2. In A1, put formula "=NOW()"
3. In A2, put formula "=NETWORKDAYS(NOW();NOW()+6;A1)"
(see that result is 4)
4. Clear A1

Expected result:
A2 should change to 5

Actual result:
A2 becomes #VALUE!

It worked as expected in 4.4 -> regression, adjusting severity appropriately.

Tested with Version: 5.0.1.2 (x64)
Build ID: 81898c9f5c0d43f3473ba111d7b351050be20261
Locale: ru-RU (ru_RU)

under Win7x64

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