Chrysler’s and GM’s recent bankruptcy filings were very public examples of a much broader insolvency trend that cuts across all industries and market capitalizations. Most companies filing for bankruptcy accurately represent their assets. But a small percentage of filers that claim to have little or nothing to offer creditors aren’t being honest. Instead, they’ve diverted […]
Tracing hidden business assets Distrust is typically part and parcel of divorce litigation — especially when it comes to financial matters. To secure a fair and equitable resolution, attorneys may need to trace assets and income that a business owner spouse has hidden to reduce child support, alimony liability or the final settlement amount. Forensic […]
Lost profits damages The trouble with start-ups and never-started-at-alls Although calculating lost profits damages for businesses involved in litigation is always complicated, damages experts can use the company’s historic financial statements to make their projections. They can, that is, if the business has a history. Calculating damages for early-stage and never-launched businesses requires a different […]
Abstract: Financial experts play a critical role in alter ego litigation, examining a wide range of factors to analyze whether a company is a shell or a legitimately separate entity. This article explains how the expert looks at what’s going on inside the companies to determine whether the ownership structure serves legitimate business purposes or is […]
Lost profits are a key component of damages in all kinds of litigation. In breach of contract and commercial tort cases, for example, a plaintiff may claim it suffered lower revenues, higher costs or both because of the defendant’s wrongful conduct. To accurately calculate lost profits, financial experts consider a number of factors, including lost […]
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G.L Howard, CPA is one of the premier CPA firms in Southern California handling the accounting, litigation support, tax compliance and planning, and tax controversy needs of closely-held corporations and their shareholders. Nationwide Service: We serve Southern California clients (throughout Orange and Los Angeles Counties) as well as nationwide and internationally through our Tax Controversy […]
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