Results
Jennifer Koiles Pratt represented the spouse of a business owner through a divorce. As a result of a thorough business valuation and forensic accounting, the valuation of the spouse’s business was millions higher than reported and hidden assets were uncovered. Koiles Pratt’s client was awarded a substantially higher alimony and a significantly increased and more equitable division of assets.
Situation
Jennifer Koiles Pratt represented the spouse of a business owner through the divorce process. A critical element of the divorce was determining an appropriate valuation of the spouse’s business. The spouse had presented a valuation in which the business appeared to be significantly under-valued, impacting the potential assets awarded to Koiles Pratt’s client.
Strategy
Koiles Pratt developed a legal strategy, including forensic accounting and an expert business valuation to prove to the court that the business was worth millions more than the valuation presented by the spouse. This approach involved subpoenaing banks, accountants, and credit card companies, which demonstrated the spouse was consistently withdrawing money with no corresponding deposits or trace of where the money was going. The money trail revealed the spouse was transferring money to hide assets. Koiles Pratt also leveraged a business valuation professional to serve as an expert witness who presented a higher and more appropriate valuation of the business, as well as forensic accountants who located all monies that should be distributed equitably.