Wednesday, May 13, 2009

Forensic Accountants

In the aftermath of the Myerson case in England when Brian Myerson failed to reduce his divorce settlement the FT looks at the role of Jeffrey Nedas, a forensic accountant who specialises in big money matrimonial cases. Mr Nedas is also called upon to trace offshore assets to work out whether someone is not disclosing their true net worth to minimise a settlement.

There are two main principles when advising business owners involved in a divorce Jeffrey Nedas says. First, to take a sensible and commercial view when valuing the asset, to avoid racking up excessive costs. Second, if a business is the main source of their prosperity, to make every effort to keep it running successfully, protecting a steady income flow for the benefit of both parties until it can be sold.

Mr Nedas acts for husbands as often as for wives although he has some sympathy for the women whose first inkling of the true state of their finances comes after their husband has asked for a divorce. "For some of them, they will have enjoyed this luxury lifestyle for years, but when everything comes out, it turns out they have been living in a castle built on sand."

Full story Source The Financial Times 8 May 2009


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