20 May Victorian Bush Fires – Class Actions
Overview:
The solicitors acting for the defendants in multiple class actions appointed ARC to review all the agricultural claims that had been made under the class actions and to adjust them as necessary to ensure that they complied with the Settlement Deed applicable to each Class Action.
What we did
The 200 plus claims that were presented ranged from the complex to the straightforward and involved a wide range of primary production activities. A similarly wide range of analytical methodologies were required to review the claims. These included the following:
The analysis of historical review of financial and production records in order to test the reasonableness of claims.
Completing quotes as well as sourcing prices from third parties for farm buildings and sheds, fencing, farm machinery and numerous other items. These costs and quotes were used to build a reference data base able to be used across all claims thus speeding the review process up considerably.
Using various cash flow based business valuation techniques to establish indicative values for businesses based on projected future earnings.
Developing appropriate methodologies to quantify the intangible value of assets such as amenity trees and windbreaks.
The Result
The majority of claims reviewed were settled without litigation. Where claims were contested, we prepared Expert Reports and participated in mediations and Court actions as required.
If you need an expert agricultural consultancy in your corner, get in touch with us today to discuss your situation.
