Expert Witness
Lotus Amity provides expert witness services in disputes. Lotus Amity prepares valuation and loss of profit expert reports in commercial or family disputes. Reports are also prepared for mediation and expert determinations.
As an expert, our overriding duty is to provide expert evidence to the Court and to provide the Court an objective and impartial assessment of key issues. Fundamentally, Lotus Amity:
- Explain the arguments and opinions clearly, so that they can be understood by the Court
- Present opinions that are logical and supported by acceptable facts and figures
Expert reports comply with the APES 215 Forensic Accounting Services and code of ethic requirements and the relevant Court rules, for example the Expert Witness Code of Conduct, the provisions of the Uniform Civil Procedure Rules and Divisions 7.1.4, 7.1.5 and 7.1.6 of the Federal Circuit and Family Court of Australia Rules.
Experience
Examples of expert report engagements include the following:
- Breach of an employment and sale of business agreement, passing off and injurious falsehood. The respondent sold a facilities management business to the applicant. Allegedly, the respondent subsequently set up in competition in breach of the non-compete clause of both the business sale and employment agreement and made representations that were misleading. Lotus Amity prepared an expert report which analysed the potential lost clients, suppliers, employees and referrers and the expected lost gross profit and avoided overheads on historic and future work. The expert report was prepared for the Supreme Court of Queensland GBAR (Australia) Pty Ltd v Brown [2020] QSC 14.
- Valuation of a parties 100% interest in a company operating an engineering business primarily within road infrastructure. Lotus Amity prepared a single expert valuation report for the NSW Federal Circuit Court. The report analysed sales, the impact of COVID-19, contracts and quotations, project outlook, owner market salary, sales forecast and adopted an income and market valuation approach.
- Breach of a management rights contract. The applicant held the rights to carry out the management role for the body corporate. The body corporate allegedly terminated the contract without cause. Lotus Amity prepared an expert report which quantified the loss of profit suffered by the applicant as a result of the breach. The expert report addresses issues such as the risk profile of the cash flows, the damage period, the profitability of the contract and the costs associated with the contract. The report was prepared for the Queensland Civil Administrative Tribunal. The expert report addresses issues such as the risk profile of the cash flows, the damage period, the profitability of the contract and the costs associated with the contract. The Sands Gold Coast Pty Ltd v The Body Corporate for the Sands QCAT 2019.
- Valuation of a sole beneficiary interest in a trust providing property finance, business finance and insurance broker services. Lotus Amity prepared a single expert witness report on behalf of both parties which analysed the business operations, income and loan book, expenses and balance sheets and adopted an Income, Market and Cost approach to value the company.
- Exiting shareholder dispute in relation to a company in the allied health industry. The parties jointly appointed Lotus Amity to prepare a final and binding Expert Determination valuation.