We provided input to the drafting, ensuring that the disputed items linked to the requirements of the SPA. Once any prospect of a negotiated settlement had evaporated, the expert determination process was triggered. We drafted the bulk of the client’s submission to the Independent Accountants, linking back to underlying evidence and explaining clearly how the client’s calculation reflected the requirements of the SPA. In doing so, we have worked closely with the client’s team and lawyers and feedback has been extremely positive. Throughout the engagement we advised the client as to the strengths and weaknesses of the matters in dispute, enabling the client to evaluate settlement options as the matter progressed. While the expert determination process has not yet concluded, we have been successful in putting the client’s case forward in a strong and persuasive manner.
Henry Pocock Partner Forensic Services Birmingham +44 (0)7751 930 083 henry.pocock@frpadvisory.com
2022: My year in review
2023: Predictions for the year ahead Henry is predicting that increased scrutiny of ESG commitments will give rise to investigations and disputes.
Having founded the Forensic Services team in Birmingham at the end of 2021, the focus of my year has been building the practice. The release of COVID-19 restrictions and return to the office has meant that I have been able to meet up with existing contacts and make several new ones. During the year I have been instructed on a range of matters, including a complex transaction dispute and a multi-million pound loss of profits claim. I have been heartened by the positive reaction from the market to the launch of the practice which is testament to FRP’s strong reputation both locally and nationally. What’s been particularly encouraging is being able to draw a line between business development activity, opportunities and engagements. Any new job is nice, but meeting a contact, developing a relationship and then having the chance to propose for some work is a good feeling. Case study Since early May I have been advising the seller in an earn-out dispute. The buyer had presented the seller with accounts showing that no earn-out consideration was payable. The seller disagreed and had prepared an alternative calculation showing that the full earn-out consideration was payable. We were engaged just a few days before the dispute notice had to be served so needed to get up to speed quickly with a particularly complex mechanism.
“Organisations are increasingly focused on their ESG performance with stakeholders, including non- executive directors and investors, keen to understand the steps being taken to measure sustainability and ethical impact. Where contracts impose ESG related obligations on a company’s supply chain there is the potential for things to go wrong, particularly in the current economic climate where suppliers are coming under stress as inflationary pressures result in increased labour and materials costs.
I’m anticipating an increase in contract compliance investigations where companies suspect a supplier of cutting corners or failing to meet commitments, and for those investigations to result in contractual disputes. The measurement of losses will likely throw up some interesting points, particularly where there are allegations of reputational damage.” Henry also agrees with Fiona’s prediction of a rise in M&A disputes: “In anticipation of a growth in M&A disputes, I’ll be sharing insights and experiences on the topic on LinkedIn during Q1 of 2023 .”
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