Our firm was retained by a well-known law firm with respect to the construction of a major highway. We were asked to quantify the economic damages in response to an insurance claim and subsequent litigation proceedings.
Our role was to examine the financial records of various subcontractors and the project management company to verify the amounts claimed with regard to physical damages. We also quantified the potential loss of revenues and profits and reviewed claims for increased costs of raw materials, construction equipment, recovery of project overhead costs and soft costs. Onsite meetings were conducted with all parties where we presented our findings to various parties and experts. We were also required to review recommendations and reports prepared by professional engineers and incorporate their conclusions into our accounting analysis. One of our partners presented their findings at a mediation and also underwent a cross examination of these findings.