A British financial director received a criminal sentence in France because of a lack of due diligence from his Counsel, whom the financial director then sued. He then reported that he could no longer practice anywhere in the world as he had been struck off the Board for his profession but also because the positions he would have been eligible for (CFO in companies traded on the stock exchange) were no longer available to him because of his sentence.
The financial director’s claim was based on loss of income over about ten years (up to his retirement), in the amount of several million euros.
GM CONSULTANT INTERVENTION
GM Consultant became involved when the case was referred to the French court of cassation, to assess the amount of the loss.
A loss adjuster specialising in financial risks worked with the company’s Counsel to draw up a technical report and draft a part of the submission.
The goal of GM Consultant’s involvement was to provide the Court with a “turnkey” analysis of the financial director’s loss of opportunity to apply for the jobs he had been counting on, whether in France or abroad, to show that he was not engaged in searching for employment, and to challenge the amount being claimed.
The appeal ruling awarded an amount that was less than 10% of the total sought.