We are regularly instructed to represent claimants and defendants on a broad range of matters and are one of the few independent accountancy practices within the South of England who are nationally recognised as forensic accountants.

The following are examples of cases undertaken by Matrix Forensic:

Commercial litigation

Reports on the loss of profits, breach of contract and warranty claims, business, and share valuations; dissolution of partnerships and other related claims.

Example: Report in respect of a claim against a landlord following a catastrophic fire at a nightclub allegedly caused by workmen instructed by the landlord. The case was dropped following the identification of accounting irregularities by the claimant and associated fraudulent insurance claims.

Example: Report to the shareholders of a Middle East company on accounting irregularities relating to multi-million stock loss and the diversion of business assets to a third-party company.

Professional negligence

Advice or opinions on liability in respect of the conduct and competence of accountants, auditors, tax advisers or financial services professionals.

Example: Report on the professional negligence of an auditor of a company following the reliance placed by the purchaser on the audited accounts that contained material misstatement of sales and assets, leading to a loss of £2.6m.

Forensic insolvency

Reports on claims under the Insolvency Act and Company Acts, including wrongful and fraudulent trading, illegal dividends, disqualification of directors and related matters. 

Example: Report on the liquidation of the UK subsidiary of a USA registered company. Identifying irregularities in the valuation of stocks and the diversion of sales by the directors through a third-party company.

Criminal

Acting for the defence in numerous cases involving fraud, money laundering etc, together with the associated confiscation actions under the Proceeds of Crime Act.

Example: Acting on behalf of the defence following allegations that the CEO of the Shelter Box Trust abused his position by placing orders for goods through a related party company without considering other suppliers. The report demonstrated that the prosecution’s forensic accountant’s conclusions overstated any benefits. The defendants were found not guilty.

Example: Acting on behalf of the prosecution as an independent expert in respect of fraudulent trading, false accounting, and related charges. Provided lead evidence at Southwark Crown Court (first paperless criminal trial) in relation to the prosecution of the directors of Crown Currency Exchange in respect of a £20m fraud relating to foreign exchange losses to 13,000 victims. The defendants were found guilty.

Estate & probate

Assisting executors and personal representatives in administration & winding up of estates; management of estate accounts, completing inheritance/income tax returns; preparing final financial accounts & distribution accounts for disposition of estate to the beneficiaries. Preparing forensic accounting reports for the management of the estate in contemplation of civil recovery proceedings.

Example: Report on the loss of income to the estate following abuse of position by administrator & subsequent unauthorised capital distributions in favour of a family member.

Matrimonial

Assisting in ancillary relief proceedings; reports on the valuation of business assets/shares; assessment of financial resources; division of assets.

Example: Report as SJE for the valuation of a minority interest in an offshore trust company (Jersey). Undertaking a detailed review of the company’s operations and projected income streams resulting in an agreed valuation of £30m. Giving evidence in The Royal Courts of Jersey.

Taxation Matrimonial – 1st Tier Tax Tribunal/COP9:

Advice on complex taxation enquiries – reports for 1st TTT; FIS COP9 investigations; VAT fraud; general tax enquiries.

Example: COP9 investigation following cash seizure, tax evasion through cash economy and overseas interests.

Alternate dispute resolution

Appointment as a Mediator and Expert Determiner for private individuals and
companies.

Example: Mediation relating to a dispute over the ownership of land used by the residents of a housing estate for parking. The contention was the land was beneficially owned historically by the original family. Mediation resulted in the transfer of the land into a trust.

Example: Expert Determination on behalf of the shareholders of a family-owned company who had been locked in a dispute for five years over the value of shares. The Determination set the value for the shares allowing the family to complete the sale.