Arbitration Services and Expert Determination
We resolve business-related disputes and issues by expert determination or arbitration services. These are Alternative Dispute Resolution (“ADR”) procedures which disputing parties can agree to employ. They are ordinarily confidential, and do not involve the rigid formalities of court based litigation. In both, the process is designed in consultation with the parties to suit their requirements and the subject complexities.
In our role as a forensic accountant, we have been asked to act as an expert to determine disputes between two parties usually in the context of the purchase and sale of a business.
In an expert determination, the parties agree that the decision of the appointed expert is final and binding on them. Typically, we are asked to determine “technical” issues in connection with, for example:
Competition Accounts in connection with a sale and purchase agreement (“SPA”) of a company;
Deferred consideration payable pursuant to an SPA;
The value of a shareholding of a group of shareholders following a “parting of the ways”;
The allocation of turnover, costs or profits in connection with a joint venture agreement;
Arbitration offers parties similar binding resolution of their disputes. This is subject to the prevailing arbitration law and any agreed procedural rules. Ordinarily, our powers are founded in the Arbitration Act 1996 and subject to which we may engage legal and other experts to assist.
We are typically engaged to provide arbitration services to resolve disputes including:
- The compensation payable for loss of profits and other financial losses;
- The calculation of deferred consideration payable pursuant to a sale and purchase agreement of a company;
- The calculation of consideration payable subject to the complex provisions of a contract to supply products and/or services;
- The allocation of turnover, costs or profits in connection with a joint venture agreement;
- The profit share and final capital account balances of partners in a partnership.