Limitation of accountant liability
Article Abstract:
The proportionality concept in standard clauses requires UK courts to evaluate the behaviour of other parties, involved in a private equity deal, before deciding to what extent the accountant is liable. Standard clauses specifies the amount accountants are liable, to no more than 25 million pounds sterling. The cap can be renegotiated in deals involving equity/debt of below 25 million pounds sterling or under certain conditions, such as a short timetable. The liability cap is shared between the addressees. The six largest UK accountancy firms put forward the standard clauses, in Nov 1996.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
The changing face of the buyout market
Article Abstract:
An accountant working in the buyout industry must be adaptable in order to be able to fulfill a variety of roles necessitated by the introduction of the vendor initiated management buyouts (VIMBO) and institutional buyouts (IBO). An accountant can bring together all interested parties, suggest outlets of venture capital to provide the finance and be involved in the bargaining process when establishing a price. Accountants who have developed expertise in traditional management buyouts can use their skills in order to facilitate the new VIMBOs and IBOs.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
The appliance of science
Article Abstract:
As company prices continue to rise accurate company valuation is becoming increasingly important for those involved in acquiring or merging with a new business. Although a competent financial manager would have the ability to value a company, corporate accountants can offer greater expertise and knowledge to finalize a price. A professional valuation service is especially needed when companies are considering acquisitions from abroad where accountancy methods may differ and information is limited.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The maximization of a function over the efficient set via a penalty function approach. A complementary greedy heuristic for the knapsack problem
- Abstracts: Breaking the cycle. The plot sickens
- Abstracts: The German market for deodorants. The Italian market for deodorants. The Spanish market for deodorants
- Abstracts: Town and country. Freedom's price. Rot all over: corruption cuts into the party's grassroot support
- Abstracts: Loud silence. The bared facts