You are involved in a dispute with your business partners. You lack control over the corporate books – so why is it important for your lawyer to bring on board a forensic accountant now? Because there is a strong likelihood that your “partners” are hiding or withholding financial information. This is especially true if you are a minority shareholder or where you lack control over the books and records.
Some information that your shareholder lawyer will evaluate – with the assistance of a forensic accountant – will relate to:
- The value of the business;
- Whether or not the company is an “S Corp” or “C Corp”;
- The distributions you have received over the years;
- Your “equity balance” as reported on financial statements; and
- Whether or not your partners have received more in distributions.
Read more here in Part 2 about getting forensic accountants involved in litigation and order a complimentary copy of Mr. Internicola’s book “New York and New Jersey Partnership Dispute Guide” or call 800. 976. 4904.