5. Potential conflicts 1. Update the Articles Paul Smethurst is a forensic and corporate investigation specialist at accountancy firm, Carter Backer Winter LLP Astonishingly, we still come across situations where there is no letter of engagement in place with an appointed expert. A letter of engagement should set out the work that will be done, cost and timetable for completion of the work. Every expert that you come across should expect an instructing solicitor to require this so there should not be any objection – if you encounter resistance to this basic procedure from your expert you would be right to feel concerned and may wish to reconsider whether the person you are dealing with has the necessary experience and expertise. Again, it is all about risk management. The key with expert fees is not to have any surprises. It is a truth universally acknowledged that the Articles of a family business will invariably be in want of detailed provisions on how shares are to be valued in the event of divorce or separation or possibly even at all. The more adventurous will have terms such as fair value or fair market value liberally scattered throughout their Articles but shareholders excited in the first flush of making their fortune will probably not know either what these valuation terms mean or their practical consequences. We have seen pre and postnuptial agreements – this is the business nup. Matrimonial lawyers should be liaising with their commercial colleagues to ensure that every set of Articles is clear about how shares are to be valued in particular circumstances. You may wish to get beyond conventions and actually specify a formulaic approach to value thereby rendering an accounting expert’s opinion superfluous and saving costs. In the process, you will likely generate additional fees and client goodwill for your own practice. 2. Courts do not like expert appearances If a reporting expert identifies tax or accounting irregularities or issues in your client’s financial affairs your client will most likely want to obtain input from their existing accountants to assist in rebuttal or explanation. Always bear in mind that the point at issue may well have been occasioned by or reflect advice previously given by your client’s accountants and they may well not be best placed to comment upon the position. This potential conflict should be raised with your client and independent advice taken if there are doubts regarding objectivity in respect of a key financial issue. This will save time and wasted costs in taking forward an argument so that existing advisors can save face. At a formal hearing, once the experts start circling overhead solicitors understandably start to become uncomfortable. How much is this all going to cost and how long is it going to take?, and is the expert going to say something that is completely off piste?, are questions that come to the fore. Judges often see the appearance of an expert as a threat to good case management. For all of these reasons legal procedure emphasises the need to narrow issues or clarify the position of the expert. Under Family Procedure Rule 25.6 a party may put written questions to an expert in order to clarify the expert’s report. A good set of questions can obviate the need for expert testimony and will assist the matrimonial lawyer in managing the risk associated with a formal hearing. When considering what areas require clarification and how questions might be framed the matrimonial lawyer would do well to consider obtaining professional assistance by engaging a forensic accountant to advise. Depending upon the amount of material that has to be considered this should take no more than a few hours reading and the cost/benefit return of a focused, well-directed set of questions can be enormous. 3. Communicating with a single joint expert European finance ministers are currently learning what matrimonial lawyers have known for years – a change in relationship is rarely straightforward when there is a lot of money at stake. However, at a time when financial complexity in matrimonial cases invariably leads to a consideration of whether an accounting expert might add value by, for example, assessing share value in a family business, the level of sustainable future earnings from a business or even how a business has been conducted in the run-up to a hearing, there are things that the matrimonial lawyer can do to manage and mitigate the financial risk faced by their clients. Matrimonial lawyers should consider the following five practical tips when dealing with accounting experts. 4. Get a letter of engagement Make sure that the ground rules of communication are agreed between the parties. It is quite simple really – all communication to or from an appointed single joint expert should be copied to the legal representatives of the other party. Make sure that the expert understands this. All too often the single joint expert is used as a conduit to argue a client’s financial case with a copy to the legal representatives of the other party knowing full well that the other party will likely feel obliged to respond. There are mechanisms in place for such a dialogue – involving the expert simply adds to expense.
Barclays is defending a £50m claim for losses linked to manipulation of the London interbank offered rate (Libor) brought by a three companies it placed in administration.Rhino Enterprises Limited, Rhino Enterprises Properties Limited and Askwith Investments Limited (Rhino) purchased interest rate swaps (IRS) – products that were impacted by movements in the Libor. It is one of the first cases to allege collusion by Barclays and other banks to manipulate Libor, and has been filed by Rhino as the companies end 18 months in administration.Not all swaps products can be linked to Libor, but Collyer Bristow partner Stephen Rosen, who is acting for Rhino, told the Gazette: ‘A huge number of interest rate swaps were sold by reference to Libor. If the court was to decide in the Rhino case that Libor manipulation meant that Barclays swaps could be rescinded, the consequences for Barclays would be very serious.’In a statement Rosen added: ‘In this case, false Libor submissions made rates unreliable if not meaningless and Rhino relied on Barclays’ representations when entering into unsuitable swaps arrangements that eventually triggered insolvency.’The case management conference date has not yet been set, but will take place in either July or October. Barclays is advised by Clifford Chance partner Ian Moulding.
Share NewsRegional CARICOM, Cuba sign new trade agreement by: Caribbean Media Corporation – February 8, 2017 Sharing is caring! (Photo: CMC)GEORGETOWN, Guyana (CMC) — The Guyana-based Caribbean Community (CARICOM) Secretariat says the 15-member regional integration movement has reached an agreement with Cuba on the expansion of preferential access to each other’s markets.In a brief statement, the secretariat said that the agreement was reached during the 10th meeting of the Joint Commission established under the Trade and Economic Cooperation Agreement between CARICOM and Cuba held in Guyana late last month.“A significant number of items from the Community, including beer, fish and other agricultural products, and manufactured goods, have been approved for entry into the Cuban market free of duty once both sides formalise the agreement.“CARICOM member states have also agreed to grant duty-free access to Cuban goods, including pharmaceuticals. More developed countries (MDC) in the community will also determine the level of preference they will grant to Cuba on a number of other items,” the secretariat said.It said the agreement also includes a number of items on which each MDC will determine the level of preference it will grant to Cuba. Share Tweet 38 Views no discussions Share
The just concluded 31st Biennal Conference of the Caribbean Nurses Organization (CNO) saw the bestowing of a Special Award on the Nurses of the Commonwealth of Dominica for their unwavering and committed nursing service during a very trying 2016 – 2018 binieum.The four-member Dominica Nurses Association contingent – Debra Roach-Phillip (1st Vice President and CNO Regional Director), Dyan Cornelius (2nd Vice President), Grethel Peters-Magloire (PRO), and Mignon Shilligford (CNO Board Member) who attended the conference received the award on behalf of Nature Isle Nurses.Nurse Grethel Peters-Magloire was also recognized by the CNO for being the Dominica Nurse of the Bienium.The CNO conference was held from the 21st to the 26th of October 2018 at the Hilton Hotel in Barbados. The conference theme was: Transformational Leaders, Advocating for Quality Health Care.A number of key issues affecting nurses and nursing such as nursing shortage, nurse migration and work place bullying were highlighted. A number of solutions were presented to help curb these issues, the presentation which stood out as being one of the most effective approach was by key note speaker Dr. Marion Howard.She spoke on the topic Transformational leadership in Building and Sustaining an Effective Cadre of Nursing Professionals. The presentation on the topic, Compassionate Fatigue, by Dominican born Dr. Agathine Scotland highlighted the issue of burn out in nursing as among some of the reasons for below average performance among nurses.The Dominica Nurses Association congratulates all nurses in Dominica for being honored with the Special CNO Award. We also congratulate Nurse Elenora Warner of Antigua and Barbuda who was re-elected as CNO President for second term and Nurse Debra Roach-Phillip of Dominica for being re-elected Regional Director.Finally but very importantly the DNA sincerely thanks the following generous corporate citizens for their contribution towards conference expenses: Roseau Cooperative Credit Union, Lafalaise Medical Lab, S Mart and Dominica Social Security. Sharing is caring! Share 236 Views no discussions Tweet Share LocalNews Dominica Nurses receive special Award at Caribbean Nurses Organization Conference by: – November 2, 2018 Share
Related TopicsBaltimore RavensCleveland BrownsGary BarnidgeHue JacksonIsaiah CrowellJohn HarbaughJosh McCownterrell Suggs Tom Farmer Born and raised in northeast Ohio, Tom Farmer started loving sports at a very young age. Some of his first memories were playing baseball and basketball for his local recreation center. Tom’s passion for football came in his early teenage years when the Browns came back in ’99. Tom is a season ticket holder for the Cleveland Gladiators that play in the Arena Football League. He will forever represent his Cleveland teams from the womb to the tomb. Cleveland rocks! Tomorrow afternoon at First Energy Stadium, veteran QB Josh McCown gets his first start of the season as the Cleveland Browns host their first home game of the season as they look to get their first divisional and overall win of the season against Joe Flacco and the Baltimore Ravens.Ravens head coach John Harbaugh alone has a record of 14-2 against the Browns and the Ravens have an overall record of 25-9 which doesn’t look good for the Browns who are already on their second quarterback of the season with a new head coach and new system. What does look good is what Josh McCown was able to accomplish during his last start against the AFC North rivalsIn his last game against the Ravens, McCown went for 457 yards and three total touchdowns (two passing, one rushing) in a 33-30 overtime win. That was his best start at QB at 36 years old in his entire career. During a interview with the media the week, John Harbaugh stated that he knows what Josh can do against his defense.“He’s had a lot of success against us. He’s been on fire against us. He’s thrown balls up in the air, and a guy catches it with his feet for a touchdown. I just remember this guy having no conscience.”A big factor of McCown’s success during that game was thanks to Gary Barnidge who was already showing the league that he can be a Pro Bowl caliber tight end. Gary racked up 139 yards and a spectacular between the legs touchdown. Gary wasn’t playing at the level he showed last year dropping two passes from Robert Griffin III last week in Philadelphia and ended up not recording a catch for the whole game. Expect a bounce back game for him this week as he was McCown’s favorite target last year.This Ravens team has been know to not let any team run over them and have one of the better linebacker cores in the NFL. Head coach Hue Jackson still has faith in his running back Isaiah Crowell.“We just have to hand it to him enough times,” Jackson said, per the team’s official transcript. “If you have a runner you believe in, you have to give him the ball. He has to get a feel for the game and be able to play within the structure of what you are trying to accomplish with the offensive line. That’s why I said I take responsibility for that. I think he is off to a good start. We just have to give him opportunities to go show his ability.”Ravens all pro linebacker Terrell Suggs fully expects unique plays from Jackson and his offense tomorrow. He jokingly stated “We’re expecting Hue to thrown the kitchen sink at us. We’re preparing for everything. Some wildcat, polecat, everything. Don’t be surprised if they come out there with the ‘Little Giants’ formation or the Flying V. They’ve got something up their sleeve.”It’s never a dull moment when these two teams meet. Don’t be surprised to see a better offensive attack from the Browns this week and fully expect Joe Flacco to try and throw on this young, raw defense.
Share By LAUREN N. LAUGHLINSpecial to the PRESSOn Sunday, Oct. 9, the Rio Grande Valley inhabitants were treated to a very rare natural optical illusion, a moonbow. The phenomenon could be seen starting around 10 p.m. and lasted into early Monday morning.Katie Mollo, a South Padre Islander said, “It was so cool, I went out walking my neighbor’s dog, looked up and saw a shining circle around the moon, I wasn’t sure if it was just me, so I called my friend out to see it, too.”A moonbow, also known as a lunar rainbow, lunar bow or white rainbow, is a rainbow produced by light reflected off the surface of the moon rather than from direct sunlight. Moonbows are normally relatively faint, due to the smaller amount of light reflected from the surface of the moon, but the one above the Valley was very prominent to the human eye.To see this story in print, pick up a copy of the Oct. 10 edition of the Port Isabel South Padre Press or check out our E-edition by clicking here.A moonbow was seen around the full moon on Sunday night, causing locals to stand and stare at the rare ring of light reflected from the moon. (Courtesy photo) RelatedWriter’s Block: Ode to the Super Blood Wolf MoonBy DINA ARÉVALO Port Isabel-South Padre Press firstname.lastname@example.org As a life-long science fiction aficionado, I often gaze skyward and think of the potential heights humankind might one day reach among the stars. Starships that travel the galaxy and, as the opening credits for the Star Trek franchise say, explore new worlds…January 25, 2019In “Editor’s Column”Writer’s Block: Feeling Super BlueBy DINA ARÉVALO Port Isabel-South Padre Press email@example.com Did you happen to catch a glimpse of the super blue blood moon this week? I didn’t, though I tried. So, what was it? It was our regular old moon — that gleaming silvery white hunk of cheese which has shown us the…February 2, 2018In “Editor’s Column”Writer’s Block: The Small MomentsBy DINA ARÉVALO Port Isabel-South Padre Press firstname.lastname@example.org The air was fresh with just a hint of humidity as I walked out the door Monday morning. It had been raining overnight and into the early morning hours, so the start of the day had a scrubbed clean feeling to it. With…October 6, 2017In “Editor’s Column”
Karena maraknya tindak penyalahgunaan boarding pass ini, maka sebagai aparat penegak hukum, pihak kepolisian Singapura lalu turut ‘mengiklankan’ penyuluhan ini di sosial media Facebook.“Seharusnya hanya ada di sana (area transit) untuk tujuan bepergian ke tujuan berikutnya,” tulis pihak kepolisian Singapura di laman Facebook.Bagi mereka yang kedapatan menyalahgunakan boarding pass untuk memasuki area transit bandara, tanpa niat untuk melanjutkan ke tujuan berikutnya, akan dituntut untuk bertanggung jawab atas pelanggaran berdasarkan Undang-Undang Perlindungan Infrastruktur.Jika para pelanggar terbukti bersalah dalam kasus ini, maka masing-masing dari mereka akan dikenakan denda maksimal SG$20.000 (Rp209 juta) atau hukuman kurungan maksimal dua tahun. Tentu saja, hukuman ini mesti ditegakkan guna memberikan efek jera kepada para pelanggar – terlepas apakah mereka sudah mengetahui tentang aturan semacam ini sebelumnya atau tidak.Baca Juga: Tiga Inovasi ‘Otonom’ di Bandara Internasional Changi Tuai Banyak PujianKembali ke bulan Februari 2018 silam, dimana seorang gadis berusia 20 tahun terpaksa diboyong ke pos pengamanan setelah dirinya kedapatan menyalahgunakan boarding pass-nya. Kala itu, si gadis baru saja membeli tiket pesawat untuk menemui boyband Korea idolanya di area transit Bandara Internasional Changi.Belum lagi pada April 2017, dimana dua orang remaja berusia 16 dan 19 tahun pun mengalami hal yang hampir serupa – diamankan petugas keamanan bandara setelah mereka membeli tiket pesawat guna menemui artis idolanya, seorang bintang hip-hop asal Negeri Ginseng, Korea Selatan.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Like this:Like Loading… RelatedHanya Demi Masuk Bandara Changi, Puluhan ‘Calon Penumpang’ Rela Beli Tiket Tanpa Niat Mengudara!03/09/2019In “Bandara”Jewel Changi, Bakal Jadi Destinasi Wisata Gaya Baru via Bandara Changi19/09/2018In “Bandara”Antar Istri ke Gate Keberangkatan Bandara Changi, Pria Ini Harus Meringkuk di Hotel Prodeo06/09/2019In “Bandara” Suber: istimewa Sebanyak 40 orang diamankan sepanjang tahun 2018 karena mereka didakwa telah menyalahgunakan boarding pass di Bandara Internasional Changi, Singapura. Informasi ini didapat dari seorang penasihat polisi, Senin (21/1/2019) kemarin. Lalu belum lama ini, seorang wanita yang diperkirakan berusia 38 tahun ditangkap oleh petugas keamanan Bandara Changi lantaran dirinya telah menyalahgunakan boarding pass-nya ketika tengah transit.Baca Juga: Changi Stopovers, Siap Manjakan Penumpang Transit Jelajahi SingapuraSebagaimana yang dilansir KabarPenumpang.com dari laman channelnewsasia.com (21/1/2019), seorang petugas kepolisian mengatakan bahwa, “Investigasi mengungkapkan bahwa wanita itu telah memasuki area transit untuk menukar barang, yang dibeli saudara perempuannya dari sebuah toko di area transit. Dia tidak berniat untuk meninggalkan Singapura,”
Everyone knows how stacked the Browns are heading into the 2019 season. But as much as the Browns roster shines at the skill positions it lacks at one key area that five days into training camp remains the team’s biggest concern: the offensive line.Aside from J.C. Tretter at center and Joel Bitonio at left guard, the other three positions along the Browns O-line could be considered questionable, including one at right guard that is fully up for grabs.So when presumed starting left tackle Greg Robinson – the Browns are hoping he builds on a solid finish to last season – had a bad day against Myles Garrett on Monday it’s going to raise red flags.It’s a totally understandable reaction, particularly in a game where we, as fans, love to react to singular games, days and plays to judge a player’s ability. But this early into camp is far too soon to worry about struggles along the offensive line. In fact, it’s expected at this time of year.A general rule of thumb to follow at the start of any team’s training camp is that the defense is always ahead of the offense. That is consistently a pretty natural tendency. Offenses take a lot of continuity to become a well-oiled machine, whether it be communication along the offensive line, timing between the quarterback and his receivers, running backs helping in pass protections; there are a handful of things that have to be in sync.Those things can take time to develop, particularly when you have new receivers like Odell Beckham Jr. and an O-line that is continually rotating bodies. And even in today’s day and age of more complex coverages and defensive schemes, defensive assignments are much clearer and defined. Pass rushers and defensive lineman may have a stunt to remember but their ultimate goal is to push the pocket. On the back end, without a lot of wrinkles being thrown in from the offense right now, the coverage guys know who or what are they’re responsible for and do it. It’s much simpler.Take it from Freddie Kitchen’s who was hardly concerned about Robinson’s struggles against Garrett on Monday.“I think Myles is a pretty good player, and I think Greg is a pretty good player,” Kitchens said. “I think that is a good competition. When Myles is in the backfield, I would say he is supposed to be there and that is where I want him most of the game.”This is the part where you say, “yeah but it’s Robinson’s job to stop elite pass rushers like Garrett!” Yes, on Sundays and the occasional Monday and Thursday this fall it will be his primary job.Right now, it’s about the offense getting in sync. That takes time.The O-line is by far the Browns most troubling position so concern over their struggles or over the fact that no favorite has emerged at right guard is completely fair. Just be wary of sounding the alarms five days in and keep in mind that the offensive is behind the defense at this point. There’s no need to panic…yet. Related Topics2019 Browns Training CampfeaturedFreddie KitchensGreg RobinsonMyles Garrett Spencer German
HONG KONG – Japan booked its place in the 2007 Rugby World Cup after a 54-0 demolition of South Korea in the final round of Asian qualifiers on Saturday.Japan scored four tries in each half a week after hammering Hong Kong 52-3 in the three-nation final round as it eased into the finals for the sixth successive time dating back to the inaugural tournament in 1987. South Korea finished second with one win and one loss and will now play Tonga, which finished third in Oceania, in the repechage round.France will host next year’s World Cup that runs from Sept. 7 to Oct. 20, with matches also being played in Wales and Scotland. Japan will face Australia, Fiji, Wales and Canada in first-round Group B competition.Japan has won one game and lost 15 in the finals. Its lone win came against Zimbabwe in the 1991 tournament. IN FIVE EASY PIECES WITH TAKE 5 GET THE BEST OF THE JAPAN TIMES
Two-time double Olympic breaststroke champion Kosuke Kitajima settled for second in the 200 meters breaststroke final at a time trials meet in Tokyo on Saturday.Kitajima, who made his return to long-course competition on Friday after a long layoff following the 2008 Beijing Olympics, touched the wall in 2 minutes, 14.31 seconds behind Ryo Tateishi at Tokyo Swimming Center, almost seven seconds off his national record of 2:07.51. “I swam well today. Basically, I don’t feel that my swimming has gotten worse in any way,” said Kitajima. GET THE BEST OF THE JAPAN TIMES IN FIVE EASY PIECES WITH TAKE 5