Case study
I was instructed as an expert witness on behalf of a construction company (the claimant) in respect of a professional negligence claim against a firm of solicitors, arising from the advice given in relation to the disposal of a business. The company was claiming for the loss which arose as the actual consideration for the sale was significantly lower than expected. I was instructed to give my opinion on the market value of the business at the time of the sale, which had taken place ten years earlier. I prepared financial and market analysis looking at the information available at the time of the sale. I considered the relevance of alternative methodologies and gave an opinion on the value that an alternative purchaser might have placed on the company. Following the valuation, a joint report was prepared, with the other party’s expert. The matter was settled just prior to the Court hearing in favour of our client. The lawyers commented that the work undertaken by FRP had placed the client in a good position to negotiate the deal achieved.
Fiona Hotston Moore Partner Forensic Services Cambridge/Norwich +44 (0)7770 642 491 fiona.hotstonmoore@frpadvisory.com
2022: My year in review
2022 has been a busy year in our Cambridge and Norwich offices. We have continued to expand our specialist Forensic Services team with the addition of two newly qualified accountants. I have been instructed on 38 new matters including 19 engagements as single joint expert.
Notable assignments
2023: Predictions for the year ahead Fiona expects to see a spike in post-acquisition disputes and continued demand for warranty claims.
Acting as party expert in a matrimonial case involving the valuation of a number of hotels and clubs Undertaking a forensic investigation following a whistle-blower report regarding allegations of fraudulent accounting Acting as party expert valuer on a professional negligence claim arising out of the sale of a business Acting as party expert on a professional negligence claim against a tax adviser regarding a failed tax scheme
Acting as party expert on a commercial dispute regarding a breach of contract
Acting as a party expert on a personal injury claim and the assessment of the trading losses Acting as a party expert in an international arbitration regarding a breach of contract
“Both 2021 and 2022 have been buoyant times for business sales and many of these deals will have reflected recent positive trading results. The deals may include deferred or contingent consideration. The trading performance since the deal may have deteriorated and in such situations the
buyer may look to recover part of the consideration paid or to avoid paying deferred consideration. Disputes arising out of SPAs (sale and purchase agreements), including warranty claims, are already hitting our desks and I would expect these to continue in 2023.”
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