Expert evidence and advice
In the 1980s, I thought accounting firms should offer expert witness and forensic services. The idea was unheard of at the time and the firm I was with, Ernst & Young, took some persuading that there was a viable market for the service. But, with a little persistence, I was able to persuade them to give it a go. Persistence and persuasion have since become the hallmarks of my litigation work.
In one of the most complex trials which has ever taken place in the Commercial Court, Simon played a key role in developing winning strategies. George Leggatt QC
Before a dispute reaches court – when the case is being analysed and arguments being developed – it sometimes takes an extra level of curiosity to identify what is really at issue. Often, that is where I am at my most productive: bringing to bear the experience I gained from running a forensic department (click here for a couple of illustrations).
- In the 1990s, the insurance market had its own version of the sub-prime mortgage problems we all became familiar with during the financial crash of 2008. The “Lloyd’s spiral”, as it was known, didn’t result in international economic catastrophe, but it took a number of major companies down. One reinsurer was found to be insolvent very soon after it had been bought for a substantial sum. The buyer sued the firms who carried out the financial due diligence. Negligence was alleged … and few could see any basis for resisting the claim. But, after extensive research, I was able to show that, when the takeover occurred, there was no reason to have anticipated the “spiral” and no reason to have foreseen the insolvency.
- Another insolvent finance company. This time, errors were found in the financial models which apparently led to a massive overstatement of the asset values. The auditors were sued. I was curious to know why the auditors hadn’t spotted the flaw. They said it was because the numbers looked fine. In fact, they pretty much were. That’s because there were two errors in the model, almost exactly self-cancelling. The real reason for the collapse of the business was something far more sinister.
This was a far cry from the usual experience of professional negligence. I suspected there was more to it than met the eye.
These two cases have something in common. The work had seemed indefensible. And yet, in both cases, the job had been done by top teams who had carried out their work diligently and without anyone spotting a problem. This was a far cry from my usual experience of professional negligence where concerns are raised but go unheeded. And why I suspected there was more to it than met the eye.
Clients
Solicitors I have been instructed by over the years include:
Simon was the expert behind the scenes, ensuring that all the technical content hung together. Truly invaluable and saved costs.
Stephen Netherway,
CMS Cameron McKenna
- Allen & Overy
- Barlow Lyde & Gilbert
- Clifford Chance
- CMS Cameron McKenna
- DAC Beachcroft
- Department of Justice (USA)
- Fasken Martineau
- Freshfields
- Reynolds Porter Chamberlain
- Sacker & Partners
- Simmons & Simmons
- Slaughter and May
Click to see the breadth of cases I have worked on.
Assignments
- investor compensation claims
- Competition Commission enquiries
- contractual disputes
- disciplinary investigations
- post-takeover disputes
- professional negligence claims
- patent infringement damages
- competition and restrictive practices actions
- dispute between pension scheme trustees.
