WarrantyClaimExpert

Breach of Warranty Loss Quantification

Establish the true and warranted financial positions, value the business under each scenario, and calculate diminution in value.

Breach of warranty loss quantification is the core forensic accounting deliverable in most M&A warranty claims. The expert establishes what the accounts showed (the warranted position), what they should have shown (the true position), and the financial impact of the difference.

The primary measure of loss is diminution in value: the difference between what the buyer paid based on the warranted financial position and what the business was actually worth at completion based on the true position.

Instructions must be consistent with standard market value definitions. Inspired Education v Crombie [2025] demonstrates that improper instructions fatally undermine expert evidence regardless of technical quality.

Methodology

  • Review SPA warranties and limitation provisions
  • Reconstruct true financial position at completion
  • Apply agreed accounting basis and standards
  • But-for valuation and quantum analysis

Frequently Asked Questions

How is diminution in value calculated in a warranty claim?
The expert establishes the warranted financial position from the accounts at completion, reconstructs the true position by correcting misstatements, values the business under each scenario using appropriate methodology, and calculates the difference as the diminution in value.
What documents does the expert need for quantification?
The SPA (including warranty schedules), reference and completion accounts, due diligence materials, management accounts, correspondence between parties, and any prior expert reports. Documents unfavourable to the instructing party should also be provided.
How long does a warranty quantification report take?
A standard warranty quantification report typically takes four to eight weeks depending on complexity, document volume, and the number of alleged breaches. Urgent instructions with impending court deadlines can be accommodated with prior agreement on scope.

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