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Unless you have been involved in the process, expert determination may mean very little to you. However, as the number of corporate transact...Read more >
5 Sep 2016
CPD seminar 'Divorce, Separation and the Capital Gains Tax issues'
Our first CPD seminar of 2015 will take place on 3 February 2015 at our Coventry office.Read more >
6 Jan 2015
Loss of profit calculations
As Forensic Accountants we are fully aware that the calculation of loss of profits is not always as simple as it could be. In cases of...Read more >
15 Dec 2014
Company and commercial disputes
The forensic accountant's input to company and commercial disputes can be tailored to fit the requirements of each case. Some cases will require advice on the merits of pursuing or defending claims, or advice on the different potential outcomes in advance of a mediation, whereas others will require a full independent report on the quantum aspects of the case, in preparation for trial.
Our team have a wide range of experience of company and commercial disputes and can bring this experience to bear when advising on matters. Often disputes arise following a breach of contract and the contract itself will guide the parties on the appropriate method of dispute resolution. This may include expert determination, arbitration or mediation.
We can act as a mediator or expert determiner to resolve such disputes and are recognised by the Institute of Chartered Accountants in England and Wales (ICAEW) and Academy of Experts registers for expert determination appointments.
We were appointed by the President of the ICAEW to determine a post-sale transaction dispute between two companies in the care homes sector. We requested written submissions from each party setting out the basis of their position in relation to the dispute. These were exchanged and we sought additional submissions and information which allowed us to provide our determination of the dispute in accordance with the dispute resolution clause of the sale and purchase agreement, thus allowing the parties to resolve the dispute in a time and cost effective manner.
We were instructed as a party expert to quantify the loss of profit arising from a fire at a manufacturer's premises. The insurer had disputed the business interruption claim and therefore we were asked by the insured solicitors to review their client's claim in anticipation of legal proceedings being issued against the insurer. The insurance policy was reviewed and the claim revised to ensure only insured costs were included. Presenting the claim in a clear and concise manner allowed the parties to reach a negotiated settlement.
Our client was facing a claim for loss of profits following termination of a supply agreement. The claim was quantified at several widely different levels by the supplier, and no proper disclosure of the calculation of the claim had been made. We were instructed to assess the potential damages that our client may have to pay based on different assumptions and criteria. This was to be used to inform their decision making at and leading up to the mediation of the dispute. Our client was able to achieve a satisfactory outcome at the mediation because they knew the significance of the various factors that impacted on the claim, whereas the supplier was unprepared.
Contact Prime today
Any of the team would be pleased to discuss cases with you, to ascertain how we can help you and to give you an indication of the scope and cost of the work required.
Contact us on 0121 711 2468 or email: firstname.lastname@example.org