Contract Damages

If your business is like most, you rely on contracts with customers, employees and partners to make business decisions. When the other party doesn’t hold up their end of the contract, you’re put in a tough spot. You’ve made decisions, committed to processes and maybe even hired employees based on the commitments that were made in the contract. A breach of contract can be costly and frustrating.

On the other side, you may decide that a contract that you previously entered into is no longer a beneficial arrangement. Maybe the other party hasn’t kept up their end. Perhaps your business has changed in a way that no longer makes the agreement feasible. Maybe you’ve tried to negotiate a termination contract, but have been unable to reach a resolution. After careful thought, you’ve decided that you have no choice but to breach the contract and minimize your damages.

In either case, we work with clients and their legal teams to assess the damages related to the breach. We dig into the financial statements, records and transactions. We then model the various ways in which the breach caused economic damage and help legal teams present those assessments in court. We can work in the background and simply provide discovery support. Or we can take the stand and provide unbiased and authoritative expert testimony.

We’re here to provide clarity and transparency with regard to the financial fallout from the contract breach. We’re experienced in litigation assistance, so we know the importance of objectivity and fact-based discovery.

Here are a few of the areas in which we support breach of contract litigation:

Breach of Lease

There’s perhaps no more important contract than a lease. You’re entrusting your property to another party under the assumption that they will make payments in a timely manner, meet your stated standard of care for the property and meet the lease’s time commitment.

When those things don’t happen, you can suffer serious financial damage. We help property owners calculate the damages related to a breached lease. We look at the rent payments that were missed, any property damage that had to be repaired and the opportunity cost associated with the unit being vacant.

Breach of Services

You hire someone to do a job and they don’t complete it. That leaves you in a tough situation. You still need the work done, but now you’ve lost time. You also may have lost any money that you paid the service provider upfront.

We help you calculate the damages related to the breach of services. We look beyond just the money that you lost and determine what you lost in terms of profit and other opportunities. Were you unable to service clients in the way that you would like? Did the breach of service prevent you from completing other aspects of the project?

A breach of service has a ripple effect. We follow the facts to see just how far the ripples go.

Breach of Buy-Sell

At its core, a buy-sell agreement is based on trust. You and your partner agree to buy life insurance on each other so that your families will be compensated if you should pass away. You do so with the trust that your partner will live up to his or her end of the bargain.

What happens, though, if you pass away and your partner doesn’t use the buy-sell proceeds to buy out your stake? What if your family is stuck with a business ownership  that they don’t want?

We help families and partners calculate the damages associated with a breach of buy-sell. Those calculations could include a business valuation, examination of financial records and assistance with enforcement of the buy-sell agreement.

Breach of Employment

Depending on your business, your employees may be your most valuable asset. You invest a lot of money in your employees, so it makes sense that you expect a lot from them.

When an employee violates his or her contract, you may wish to pursue compensation. Perhaps they let confidential information go public. Maybe they violated a non-compete after they left your company. Those types of actions have real financial consequences. We help you determine the extent of the damage and make your case in court.

Breach of Fiduciary Duties

The fiduciary code is one of the strongest in the world. Whether it’s an attorney providing consultation or an investment manager providing financial advice, fiduciaries are expected to keep conversations and information confidential. Without that level of trust, it would be hard to have substantive conversations with them.

If a fiduciary violates that trust, you could suffer significant financial losses. They may relay information that was meant to stay confidential. They could also provide you with advice that doesn’t meet the fiduciary standard for being in your best interests. We analyze these issues and determine the financial losses associated with them.

 

We would be happy to consult with you on any of these issues or any other types of breach of contract litigation. We have substantial experience supporting contract litigation and even testifying in court. Contact us today to see how we can help you make the strongest case possible.