LITIGATION SUPPORT UN DERPINS SUPERIOR OUT-OF-COURT SETTLEMENT.
In collaboration with a dedicated and thorough legal team, RSM's litigation support resulted in the client accepting an offer of approximately $1 million, where an offer of $50,000 was originally on the table.
As a financial advocate, RSM assisted with a property settlement between two parties who owned one significant business interest.
While substantial profits had been made since commencement, there were no significant assets in the pool except for the business and a mortgaged former home.
The client was presented with the initial offer of S50,000 (prepared by the parties'external accountant) based on an asset pool that was minimal and had significant taxation liabilities.
While the client had not been involved in any financial matters relating to the business, they were concerned that their ex-spouse had depleted the asset pool and overstated the true liabilities of the parties.
"The service provided by the RSM Litigation Support team has been of the highest standard and integrity My clients have all been very satisfied with the professional service and advice provided by the (RSM)team I have also been referred to other teams within RSM and they too have provided my clients with good, solid and cost-effective advice, I have no hesitation in referring future work to RSM."
- RSM Family Law Client
In response to these concerns, the team at RSM proceeded to:
- Review the complex group structure
- Liaise with the external accountant and financial adviser
- Draft the assets and liabilities of the parties
- Trace physical cash distributions of the business
- Review disclosure documents and affidavits of the ex-spouse raising areas of concern
- Attend mediation and present an alternative view to the external accountant on the taxation liabilities of the parties
- Advise on the most tax-effective manner to divide the asset pool
ln addition to the final-offer (circa S1 million)the client also avoided the costs, uncertainty and emotional turmoil of having the matter progress to trial.