Judges, as well as lawyers, have a legal background. In the event of conflicts between financial stakeholders, the court may be faced with valuation issues. For example, in the event of a dispute about the valuation of a company, such as a divorce, a buy-out or a forced buy-out procedure. Sometimes both parties have consulted a valuation expert, but the outcomes of the party experts are far apart. In such situations, the court may appoint a legal expert to provide an independent and impartial valuation advice. The court will consult the LRGD (lrgd.nl) for this purpose, the National Register of Legal Experts.
An independent advice may also be required when determining the economic damage suffered as a result of a non-fulfilment of an obligation by a counterparty or an unlawful act, for example in an economic damages assessment procedure. The damage can consist of:
- incurred losses
- diminished enterprise value
- costs to limit or recoup damages
Willem Smeets has a background as a public accountant and is registered at the LRGD as a legal expert in the field of business and dispute valuation as well as forensic valuation.