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Jo C.
Jo C., Barrister
Category: Law
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Experience:  Over 5 years in practice
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In what circumstances can one party object to the other

Customer Question

In what circumstances can one party object to the other party challenging,questioning or updating information given to an expert witness on financial matters?
Submitted: 4 months ago.
Category: Law
Expert:  F E Smith replied 4 months ago.

Could you explain your situation in more detail please? Thanks

Customer: replied 4 months ago.
This a Divorce settlement in the family court at the FDA my wife's solicitor requested that an expert was appointed to look at my financial affairs a Forensic Accountant was appointed. I am a director and 40.0% shareholder in a specialist subcontractor in the construction industry. From Nov 2011 to February 2014 the company worked for the FCA on high security projects and made very good profits, my wife claimed I had put a listening device in the Family Home, this was reported as a security breach as a result my security pass has not been renewed. The company is now working in the normal construction market a greatly reduced margins. I can no longer work long hours as I have a partial care order for my 3 children approx. 35.0% of the time.
To date I have spent in excess of £55000.0 on legal fees and in March had run out of funds and was in considerable debt and I now represent myself. The Forensic Accountant produced a Draft Report for comment, this was without consultation with the Directors of the company or the company Accountants, the business was greatly over valued at circa £1,000,000.0 based on the 2011 -2014 period. Both myself & our Accountant challenged the value of the business and my projected future earnings in a letter dated the 8th March 2016 based on the company's finances since Feb 2014. The expert refused to answer the questions unless he was paid a further fee up front. I did not have the funds and he submitted his draft as the final report.
The case has been committed to a 5- day trial in September, my wife has refused all without prejudice offers to settle. On the 18th July in his General Form of Order the Judge gave me leave to question the Forensic Accountant. The deadline was yesterday I sent the original letter the 8th March (this also has a letter from my Accountant 07/03/16) together with updated information including, the companies draft accounts for 2015-16, an explanation of the level of profits therein, copies of my SC302 statements from HMRC for the years 2012-13, 2013-14 and 204-15, a valuation of the company from a business broker valued at £450-£570,000.0 (my Father is the majority shareholder and retires in January 2017 he was considering selling the business to release funds for his retirement).
On receipt of the above my Wife's solicitor immediately instructed the Forensic Accountant not to read the enclosure's as she objected to some of the content, the FA replied 'Noted' A full explanation is being sent today. The expert is appointed by the court to give a true and accurate opinion based on fact under what grounds can the solicitor object and what do I need to do write to the court? tell the FA to proceed?Regards
Mathew
Expert:  F E Smith replied 4 months ago.

Thank you. This isn’t really my area so I’m going to opt out for another expert.

Expert:  Nicola-mod replied 4 months ago.
Hello,
It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you with your question, but sometimes finding the right professional can take a little longer than expected.
I wonder whether you're OK with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 4 months ago.
I need an answer as soon as possible as I have a deadline of 13.00 hours today
Expert:  Nicola-mod replied 4 months ago.
Hello,
I apologise as we have not yet been able to find a Professional to assist you. Do you wish for me to continue to search for someone to assist you or would you like for us to close your question at this time?
Thank you for your patience,
Nicola
Expert:  Nicola-mod replied 4 months ago.
Hello,
Please understand it is rare for us not to be able to find the right Professional to assist our customers. We can close this question and return your good faith deposit to the original funding source on request.
Please let me know how you wish to proceed and again I apologize for any inconvenience this may have caused.
I hope you will give JustAnswer a try again in the future,
Nicola
Customer: replied 4 months ago.
We have passed the dead line for our reply please return the deposit and close the discourse

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