Business Disputes & Loss of Profits
Ackland Webb Accountants
Running a business is rarely straightforward. There may come a time in the business life cycle when assistance is required to help prevent or resolve a dispute. This may be a family business dispute, business partner dispute or dispute with a third-party client or supplier. In such circumstances, engaging a member of the Network of Independent Forensic Accountants (NIFA) can help the business dispute resolution process.
Cost-effective advice for your loss of profits calculation
Business disputes often revolve around a contentious event, which results in one or more parties suffering a consequential loss of profits. There are also other matters that may result in a loss of profits. NIFA members are experienced in assessing and quantifying a consequential loss of profits. A loss of profits claim can arise in a number of situations, including (but not limited to):
- Contractual disputes (including breach of contract disputes)
- Shareholder disputes
- Business interruption claims
- Personal injury and fatal accident claims
- Professional negligence claims
Loss of profits calculations are rarely straightforward in the context of a business dispute or other financial loss claim. We have undertaken loss of profits calculations in a number of situations across a wide range of businesses and industries. We have the skills and expertise to identify and consider the key variables impacting on a loss of profits claim, as well as to identify whether there is potential for a counterclaim.
We are able to assist at any stage of the dispute life cycle – from the initial assessment of a potential claim’s strengths and weaknesses and the likelihood of a potential counterclaim, to the preparation of an expert report on the quantum of the claim for use in court proceedings.
We have acted for both claimants and defendants in the context of business disputes and other loss of profits claims. We may be instructed, in either an advisory or expert capacity, to assess the facts and figures behind a loss of profits claim and prepare robust calculations to assist with the quantification of the claim and any counterclaims. We are usually engaged via a party’s advising solicitors during the dispute process, but may also be engaged directly by the end client to provide initial advice and assistance during the early stages of the claim process.
We will work with clients and their legal advisors to ensure that the loss of profits calculations delivered are fit for purpose and provide the end client with cost-effective advice. All NIFA members understand the importance of remaining objective and independent in order to ensure that the work adheres to the highest professional quality and service standards and, if necessary, that the client’s expectations are appropriately managed throughout the dispute process.
If you would like to discuss how we might assist you, please contact us for a no-obligation initial meeting.
We are proud members of:
NIFA is a network of independent forensic accounting practices providing solicitors, barristers and insurance companies with forensic accounting and litigation support services.
As qualified accountants, NIFA members are able to pool their combined forensic accounting knowledge and expertise to provide an efficient and reliable quality service.