Advising a company in relation to a professional negligence claim against two sets of accountants for failing to identify a fraud being perpetrated by the company’s bookkeeper. A total of £1.5 million was extracted from the company over a four year period. We used the information available to assess at what point the accountants should have identified the fraud and quantified the losses that could have been saved had they not been negligent.
Appointed as the expert to quantify loss in respect of a professional negligence claim made against former solicitors of the client. The claim concerned two partnerships which owned and let residential and commercial property. We were instructed to quantify losses arising in respect of the client’s share of the proceeds arising on dissolution of the partnerships.
Instructed by the claimant to review and comment on an expert report assessing the loss of dependency arising from the death of his wife, with whom the claimant ran a photography business. Our work was used in negotiations with the defendant, following which the claimant achieved a settlement significantly better than that initially proposed.
Instructed to review and comment on an expert report assessing the claimant’s loss of earnings following a car accident. In order to assist with negotiations with the defendant’s insurance company, we prepared alternative calculations of the claimant’s loss of earnings. The case was complicated by the fact that the claimant provided services exclusively to a family business which had recently ceased a previous trade and was in the middle of a three-year development project to open a children’s adventure farm. Following our work the claimant accepted an offer made by the insurer.
Appointed as a single joint expert to conclude on the date upon which a company was insolvent, the extent to which the actions of the director may have contributed to the financial downturn of the company and the position of the director’s loan account at the date of insolvency. We confirmed that, while the director had not misused company funds, he had prejudiced the creditors of the company by extracting funds to repay director’s loans after the point at which the company was insolvent. The case settled after our report was issued.
Appointed to comment on the value of transactions between the company (which had gone into liquidation) and one of two shareholders. Drawing our conclusions was made more complex due to the quality of accounting records held by the company and numerous accounting inconsistencies found.
Advising the liquidator acting for a group of language schools on the merits of 12 potential claims against the group’s former director. The claims involved the sale of a subsidiary at undervalue, making poor and uncommercial investment decisions, acting with a clear conflict of interest with regard to sums paid to family members and acting in breach of the director’s contract of employment.
Appointed by a minority shareholder to investigate and quantify the alleged misuse of company funds by the director and majority shareholder of a café. Our work involved the review and comparison of Xero accounting and EPOS records with a view to the quantification of potential undeclared cash sales.