Local business owners are becoming concerned about the current coronavirus disease and the possible impacts on their businesses. Large events are being canceled, shiploads of tourists being quarantined, entire cities, beaches, restaurants and entertainment venues are being forced to limit hours and customer counts. Pretty scary....
Peter Gampel, Managing Director of Gampel Forensic and Valuation - A forensic accountant or a business valuator is often presented with management’s forecast. What degree of reliability can that person place on the forecast for either a valuation of a business or for a determination of lost profit for business damages? That depends. Take for example the case of Cargotec Corporation v. Logan Industries, Fourteenth Court of Appeals No. 14-17-00213-CV. Cargotec and Logan had entered into a letter of intent (LOI) whereby Cargotec would acquire Logan’s assets.
