BIRCHFIELDS ACCOUNTANTS

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BIRCHFIELDS ACCOUNTANTS

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Litigation and disputes

How can Birchfields help?

We can help resolve the financial aspects of your commercial litigation matters and disputes. We are experienced in quantifying losses due to breaches of contract and can work with you to present your case in the best way possible to enhance your prospects of a successful result. We regularly deal with contract disputes and breaches of partnership agreements and can quantify the losses incurred and advise on any potential loss in business value. We will explain clearly the potential pitfalls and guide you through the financial aspects of the matter.

Case studies

Disputed proceeds from sale of partnership

In this complex case, Graham Garbett was able to assist the Court, utilising his accounting skills and his experience in business valuations.
 

Claimant X and Defendant Y were joint partners in a profitable, but underperforming restaurant. X, who oversaw the day-to-day operations of the business, travelled abroad for three months to visit family. During X’s absence, Y, who controlled the finances of the business, sold the business and its assets to a third party. 


X was not informed of the sale until his return.


X claimed that:
 

  • He had suffered lost earnings on the basis that the business profits had declined in the months leading up to the disposal, and that the reason for this was that Y had opened up a rival restaurant, and had recruited the manager of the partnership's restaurant.

 

  • He had suffered lost profit because the business was sold at an undervalue.
     
  • He had suffered a loss of capital because the last 3 years of accounts did not properly reflect the partners’ capital input.
     

Graham Garbett was appointed as Joint Independent Expert Witness to report on whether:
 

  • The loss of earnings in the months prior to disposal could be quantified
  • The basis on which the business was sold was reasonable
  • The business and assets were sold at a true value, and if not, the value at which it could have been sold 
  • All elements of capital introduced and partner withdrawals, particularly where they were of a non-cash nature, had been accurately included in the capital accounts


Graham was able to quantify the amount Defendant Y owed Claimant X, facilitating a settlement

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