Professional Services
FRP Advisory
Full Credential Description
we was engaged as an accounting expert by a national logistics firm to defend against a loss of profits claim from a provider of temporary HGV drivers. The claimant alleged a breach of contract regarding an exclusive agency agreement for driver supply, claiming significant lost profits and wasted expenditure due to this breach.
In response, we's Forensic Services team developed a comprehensive forensic accounting report that evaluated the damages claimed. They identified multiple areas where the claimant had exaggerated its losses, particularly in the calculation of lost profits. A detailed lost profit model was created, which allowed for adjustments based on varying assumptions, thereby clarifying the financial impact of the alleged breach. Additionally, the team pinpointed errors and inconsistencies in the claimant's calculations related to wasted expenditure, which provided a basis for effective cross-examination of the claimant's key witness during the proceedings.
The trial concluded with the judge ruling that no agreement existed between the parties, thus no breach of contract had occurred. The judge deemed the claimant's evidence as not credible, resulting in the claimant receiving minimal damages and being ordered to pay 95% of the defendant's legal costs. This outcome underscored the effectiveness of we's analytical approach and expert testimony in resolving complex financial disputes.