Case study
Instructed as expert witness in £75 million loss claim
Henry was instructed as an expert witness on behalf of a manufacturer of high-tech medical equipment responding to a claim for loss of profits which had been pleaded as over £75 million. The claim concerned an alleged breach of contract, with the claimant stating that, but for the actions of the manufacturer, it would have grown its business by a factor of ten over a five year period. The forward looking nature of the claim and the fact that the claimant’s existing business was small, meant that there was very little actual data to support the calculations that had been put forward.
Working with a market expert, we analysed the key components and assumptions underpinning the claim calculation, highlighting inconsistencies, and showing that the level of profit being claimed was multiple times above that reported by other market participants. The case went to trial in October, and Henry was cross examined in the High Court. The barrister commented that he was very impressed with both the written and oral evidence and would have no hesitation in recommending FRP for future work. The judge commented that Henry and the other experts ‘provided their honest, carefully considered, well reasoned and independent opinions.’
“This year has been a busy one, continuing to build the Forensic Services practice in the Midlands as well as delivering a wide variety of interesting and challenging engagements. During the year I have been instructed on a range of matters, including investigations, loss of profits claims and transaction related disputes. It has been great to win and deliver significant engagements locally, but also to draw on the expertise of the wider Forensic Services team working together to provide our clients with the advice they need. We have continued to focus on building our presence in the market and it was great to host our Spring Drinks in April with over 50 lawyers and intermediaries attending, an event which we will repeat. It is also pleasing that the team is growing, with promotions to celebrate and recruits to welcome.” How have you found 2023 for Forensic Services?
Which assignments were most notable in 2023?
“I advised a client through an expert determination process relating to an earn out dispute, resulting in the client achieving a multi-million pound award. I also performed an independent review of a client’s investigation into inappropriate business practices in its marketing team. I was appointed as single joint expert in a dispute between a business owner, manager and operations director regarding the alleged misappropriation of revenues. I was also engaged to investigate potentially fraudulent activity undertaken by the seller of a business in order to boost revenue, inflating the purchase consideration.”
Henry Pocock, Partner
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