Typically, business valuations for family law matters are conducted by a jointly appointed single expert. Despite the fact that single expert business valuers are typically used for business valuations for family law matters, parties are at liberty to engage their own valuer to review, critique and provide their own business valuation opinions separate to the advice provided by a single expert. These valuers are typically referred to as shadow experts.
The role of the shadow expert business valuer is typically to review the report of a single expert business valuer. As part of this, shadow expert valuers may write their own report which provides their own opinion of value with respect to the business or company which has been valued by the single expert. Often however, the shadow, in addition to providing their own business valuation opinion for the family law matter, will critique the report prepared by the single expert and in doing so will attempt to provide clarity to the court and the parties regarding components and approaches adopted by the single expert business valuer that in the opinion of the shadow expert are incorrect or which the shadow expert disagrees with.
Parties to family law matters may unfortunately find themselves in circumstances where in their view, a single expert has missed or misinterpreted key facts with respect to a business which they have valued, or even simply provide an opinion which in their view is wrong. In these circumstances, those parties should consider appointing a shadow expert business valuer in order to enable the court to hear a differing view of the value of the business, and to enable the shadow to provide guidance on components of the single expert valuer’s report which in their view are wrong.
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Groves & Partners are expert business valuers, company valuers and share valuers. We have significant experience in undertaking business valuations for family law matters, including significant expertise acting as single, jointly appointed business valuers and as shadow expert business valuers. We have appeared in the Family Court of Australia to provide verbal testimony.
Our team of business valuers includes Chartered Accountants, Registered Business Valuers and Certified Minority Interest Valuers. To find out more about our family law business valuation services please phone us on 1300 892 717 (+61 2 7208 7970) or email firstname.lastname@example.org.