Relationships can break down over time. Many of us have experienced this with a friend, spouse or business partner. Disputes between two or more companies are also very common. Whether the dispute has arisen due to a breach of contract, breach of tender, breach of fiduciary duty, patent infringement, estate disputes, business interruption, product liability, shareholder dispute or any other commercial dispute, it is in everyone’s best interest to seek a swift resolution. Litigation support services in the GTA help this process along. Retaining a business valuation and/or loss quantification expert to prepare an independent, reasonable and supportable expert report can greatly assist in achieving a timely resolution.
How can the independent expert help?
An independent business valuation and/or loss quantification expert can assist with the following:
- Financial loss / economic damages quantification
- Business or security valuation
- Expert report preparation
- Settlement, mediation, arbitration or Court
- Review and critique of opposing expert reports
- Identify other experts relevant to business valuation or loss quantification
- Document management and production
- Questions for examination for discovery or cross-examination
- Interviewing key witnesses on financial matters
- Conducting company, industry and economic research
- Expert testimony
What to expect from the process?
Although the facts and circumstances will change from case to case, the process we follow at VSP remains consistent and involves the planning, execution and reporting phases.
Planning Phase
Under the planning phase, we have an initial meeting to discuss background information and determine the scope and timing of our engagement. An engagement letter is executed and we provide a schedule of the initial information we require. Preliminary research is also conducted.
- Initial meeting to discuss background information, scope and timing of engagement
- Obtain signed engagement letter
- Provide preliminary information request
- Conduct preliminary research
- Preliminary review of opposing expert’s report, if applicable
Execution Phase
Under the execution phase w,e review the initial information provided, meet with management and provide a schedule of the additional information we require and/or follow up questions we have. We also conduct additional research (e.g. company, industry, economy, etc.) and complete our valuation/loss quantification analysis and draft report.
- Assist with document production
- Assist with examinations for discovery
- Review and analysis of preliminary information received
- Additional research – company, industry, etc.
- Detailed review of opposing expert’s report
- Additional information gathering, including follow-up meeting/interview of management
- Preparation of draft report
Reporting Phase
Under the reporting phase w,e provide our draft report for management’s review, meet or speak with management to discuss the draft report, refine our analysis if necessary, obtain a signed management representation letter and issue our final report.
- Meeting to discuss preliminary findings and draft report
- Refine analysis and, if necessary, gather additional information
- Obtain signed representation letter
- Issue final report
- Expert testimony at court, arbitration or mediation, if necessary
Retaining an independent business valuation or loss quantification expert as part of your litigation support team can greatly increase the chances of a speedy resolution to your commercial dispute. A reasonable and supportable report prepared by an independent expert can help to move an unreasonable party toward a reasonable settlement.