Litigation

Our valuation experts are regularly engaged in disputes and litigation to provide objective expert testimony. We deliver market-based solutions to assist in resolving litigation issues. There are many instances where a private company's shares are required to be valued in accordance with the Articles of Association or Shareholders' Agreement. The provisions of these documents usually state that a value for the company's shares must be determined by a valuation expert. Such circumstances may include:

• A shareholder wishing to sell his shares back to the company or to existing shareholders
• Shares being transferred to existing investors or employees
• A retiring employee being required to give up their shares

In these circumstances, it is important to obtain an independent opinion of value. In our opinion auditors, who generally provide ongoing advice to the company, are not independent for these purposes. We have considerable experience in providing independent opinions of value in accordance with the Articles of Association and Shareholders' Agreements. We also provide pre-sale assessments of value and often assist in the drafting of the valuation provisions in the Articles of Association and Shareholder Agreements to ensure that all parties are aware of the valuation implications of these provisions.

Many valuation firms address just a narrow range of assets. They limit their practices to a specific geographic area. We are different. American Appraisal consultants are uniquely qualified to provide dispute resolution services:

• Our experience encompasses all classifications of tangible and intangible assets
• Our seasoned expert witnesses possess the broad industry focus required to address your issues
• With offices throughout the world, we minimize the cost of litigation by making intelligent use of local perspective
• Our independence ensures absence of any audit-related conflict of interest

We are also regularly appointed by the President of the Institute of Chartered Accountants to provide our opinion in relation to disputes that have been referred to him by the courts.