We provide financial litigation support in a range of commercial disputes with a particular focus on quantification of losses and transaction disputes.
Whether you or your client are contemplating a dispute or are already in a dispute, we can work with you through the dispute resolution process to provide advice and expert evidence pursuant to CPR 35. We work on a wide range of disputes including:
Loss of profits
If you are representing either party in a case involving a loss of profits claim or defence, then we can assist in assessing the losses suffered by the injured party, whether suffered through breach of contract or tort.
In forming the basis for our assessment of loss of profits, we review, inter alia, historical trading performance, market and industry data, constraints and other business and economic factors to evaluate the financial consequence on income streams and expenses stemming from the breach. We can make an initial assessment of the strengths and weakness of the case up to acting as an expert witness in Court and in alternative dispute resolution arenas.
We draw on both our technical and broad sector knowledge to provide you with an accurate, fully-evidenced quantification of loss of profits and consequential losses suffered. We have considerable experience of:
- Business interruption claims
- Subrogated claims
- Breach of contract
- Tort of negligence
More details of our Business interruption claims and Subrogated claims work can be found here.
Completion Accounts disputes
We have assisted in completion accounts disputes and earn-out disputes both as the independent accountant and also advising clients and drafting submissions on their behalf. More details of our Completion accounts disputes work can be found here.
We have experience in quantifying damages claims as a result of breaches of warranties. For more on Warranty disputes click here.
We have assisted many principals and agents in a wide variety of industries with the quantification and negotiation of compensation claims under the Regulations. For more information on our Valuation services see here.
Compulsory purchase orders
We have acted on behalf of claimants and acquiring authorities advising on merits of claims, calculating loss of profits, provided support in negotiations. For more on Valuations click here.
We advise individual and corporate clients who have been mis-sold financial derivatives by banks relating to the quantum of consequential losses.
Independence from the banks
As a niche forensic firm, as opposed to large multi-disciplinary accountancy firm, we do not have any professional conflicts of interest with the banks. We are therefore able to assist those individuals and businesses that have suffered mis-selling of financial derivatives such as IRHPs. We have recently advised on multi-million pound claims against major high street banks including Barclays and NatWest.
Assessing consequential losses
We review each claimant’s particular circumstances to estimate the level of consequential financial loss that can reasonably be attributable to the Bank’s actions.
We can either provide advice to assist the claimant present their own claim or prepare independent evidence opining as to various aspects of a particular claim.
Our review of a claimant’s loss includes consideration of the following:
- Accuracy of the Bank’s basic redress calculations of payments made under the IRHPs and the compensatory 8% interest charged thereon
- Causation – were losses a consequence of the mis-selling?
- Foreseeability – could the bank have reasonably foreseen that a loss would stem from its actions?
- Quantum – how much consequential loss has the claimant suffered?
- Evidence – what information is available to support the various aspects of the claim?
Types of consequential loss
Each claim includes losses particular to that claimant. In recent claims we have dealt with a range of different losses including:
- Loss of capital value of a property in the event of a distressed sale
- Loss of business opportunities
- Additional taxation burden
- Additional costs incurred
- Professional fees dealing with consequences of the mis-selling
- Lost management time
We provide advice or expert opinion in a range of negligence cases with a focus on the quantification of damages.
We have extensive experience of advising and providing expert opinion in respect of liability and causation in accountancy and auditing negligence cases and on the quantum of damages to support or defend all types of professional negligence claims.
We are able to provide the following services:
- Initial review of information and provide preliminary analysis of liability (where appropriate) and quantum.
- Drafting assistance (e.g. letters before claim, responses and particulars of claim).
- Calculation of quantum of loss.
- Expert witness services.
- Independent opinion of technical accounting matters.
- Assistance at mediation and settlement negotiations.
Flexible scope of our reviews
Depending on the level of assistance a claimant might require we can provide a range of services. We have conducted limited scope reviews commenting on the general areas of strength and weakness of a claim. We have also performed in depth considerations of particular heads of claim, obtaining appropriate documentary evidence as necessary. Such detailed reviews have been presented in formal reports which claimants have provided to the banks in support of their claims.
When instructed as advisor we have prepared both not-for-disclosure and disclosable letters and reports which include detailed financial analysis and clear supporting evidence of our investigations. The advisory letters and reports assist our clients to negotiate a settlement. If negotiations fail and the matter proceeds to litigation we can also act as accountancy expert should we be so instructed.
When instructed during the early stages we work with our clients, through a preliminary review of documents, to identify the most significant aspects of the case and to highlight key areas for further investigation or key documents that should be requested.
Understanding the relative merits and value of a dispute at the outset is important. Accounting advice up front can assist in the strategic planning of a case.
For smaller, less complex claims we operate a ‘desktop’ claims review service. We offer a fast and focused service which comprises us reviewing documents and preparing a not-for-disclosure letter identifying:
- errors in the claim
- lack of information in the claim
- inconsistencies in the claim
- potential fraud
This should allow you to negotiate a settlement, or to proceed to litigation, where we can also act as your accountancy expert should you wish us to do so.
We have experience of acting as determinator or putting together submissions for one of the parties in expert determinations.
Training and lectures
We offer training and lectures on topics such as loss of profits claims, transaction disputes and understanding accounts.