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Certified Public Accountants |
Litigation Consulting Update Forensic Accounting - Fraud - Business Valuation |
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December 2013 |
Recent Case: Bad Faith – Damages for Fire and Business Failure Type of Matter: Facts: What followed was a fairly typical give-and-take between an insurance company, that wanted to pay as little as possible, and an insured, who wanted to get back up-and-running as quickly as possible. Eventually, the insurance company stopped paying on the policy because policy limits had been reached. The business needed more cash to effectively open the store. The insured contacted an attorney whom in turn, contacted Arxis Financial to assess what, if any, damages may be recoverable. Arxis Work: Unfortunately, the business was not able to recover from these disasters and ultimately failed. As noted above, the business actually consisted of two locations. One was destroyed by fire and the other remained open and was instrumental in helping to overcome the delay of the insurance company. Ultimately, the double disaster of the burned store took down the entire business as there was simply not enough cash flow to maintain inventory and get the store open. Arxis Financial prepared damage calculations showing the cumulative losses incurred after the fire, including the significant post-fire cash infusions provided by the owners. Result: |
Speeches: Upcoming Speaking Engagements for Chris Hamiltion Chris Hamilton's speeches in December and January include: "Synthesis of Value Conclusions," NACVA, National Webinar |
Service Profile: Litigation Consulting Services – Insurance Claims/Bad Faith As part of Arxis Financial's "Litigation Consulting" practice, we regularly work with attorneys on insurance claims/bad faith matters. Although insurance companies owe a duty of good faith in dealing with the persons they insure, violation of that obligation occurs in commercial policies that can involve huge sums of money. Examples of bad faith include undue delay in handling claims, inadequate investigation, refusal to defend a lawsuit, threats against an insured, refusing to make a reasonable settlement offer, or making unreasonable interpretations of an insurance policy. Arxis Financial provides objective and independent evaluation of the economic and financial issues involved in insurance claims/bad faith litigation. We work with litigators through the evaluation of opposing party's claims, assistance in preparation of deposition and cross-examination questions, document request lists, other discovery assistance, analysis and calculation of damages, preparation of trial exhibits, and expert witness testimony. Clients are pleased with Arxis Financial's abilities to clearly, persuasively, and accurately present economic and financial arguments. The Litigation Consulting practice is headed by partner Chris L. Hamilton, CPA, CFE, CVA. Mr. Hamilton is a Certified Public Accountant, Certified Fraud Examiner, Certified Valuation Analyst, and a Diplomate with the American Board of Forensic Accounting. Mr. Hamilton has published articles in several publications, and has made presentations at national conferences, training institutes and seminars on topics including forensic accounting, fraud and business appraisal. |
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Chris Hamilton, CPA CFE, CVA |
Litigation Consulting Forensic Accounting - Fraud - Business Valuation |
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Clients know us for results. Opposing counsel know Arxis for wishing they had hired us. |