Scott M. Smith

Scott’s professional experience includes:

• Forensic Accounting and Investigation, Healthcare: Assisted in the forensic review of revenue recognition analyses performed by an independent third-party consulting firm on behalf of a regional ambulance services provider. Recreated the quality of earnings analyses performed by the third party to generate a normalized trailing 12 months EBITDA for the ambulance services provider. Contextualized results of the quality of earnings analyses with other contemporaneous events and documents to establish the exercise of sufficient due care by the third-party consulting firm.
• Commercial Disputes, Offshore Drilling: Assisted external counsel in a fraudulent conveyance dispute between the litigation trust of a bankrupt offshore drilling company and the company’s former parent entity. Performed analyses to determine whether the conditions of constructive fraudulent conveyance were present via the valuation of the company’s offshore drilling rigs using contemporaneous financial projections from management and industry experts.
• Commercial Disputes, Automotive: Assisted in a post-acquisition dispute related to allegations of breach of contract stemming from the overstatement of EBITDA by the target auto parts manufacturing company. The EBITDA reported by the target company formed the basis of the purchase price paid by the acquirer. Performed analyses to quantify damages to the acquirer due to the alleged financial statement preparation misconduct, including overstatement of accounts receivable. Drafted expert conclusions related to the allegations in report format and conducted extensive quality control procedures thereof.
• Cable Television: Assisted the showrunners of a popular cable television show in ongoing dispute with the show’s production studio company related to the determination of the showrunners’ compensation. Performed research and analyses to determine whether the license fee agreement between the studio and the network, on which the showrunners’ compensation was based, represented monetary terms comparable to terms on which the network would typically enter into within the course of similar transactions with unrelated third-party production studios.
• Demolition and Remediation: Assisted external counsel on behalf of a private equity firm in a post-merger dispute related to allegations of pre-merger financial statement fraud. Performed litigation damages theory research to support the concluded damages opinion. Conducted extensive quality control procedures related to the formation of the expert witness report, appendices, and exhibits.
• Electronic Payment Processing: Assisted external counsel in an intellectual property dispute related to the diminution in market value of an electronic payment processing company active in the prepaid mobile phone market due to alleged misconduct via improper market entry by a former vendor. Performed rigorous meta-analyses of previously submitted expert report and expert testimony materials in response to a Daubert motion by opposing counsel to exclude such materials from the case.
• Tax Controversy, Automotive: Assisted an international OEM company in its dispute with the IRS related to the tax authority’s claims that a post-acquisition restructuring of certain debt instruments by the OEM entity following the global economic crisis resulted in obligations to the company’s lenders that should be treated as equity for tax purposes. Performed analyses to demonstrate the reasonableness of the OEM entity’s ability to pay its obligations as they came using contemporaneous projections from management. Conducted qualitative analyses to substantiate the debt-like characteristics of the company’s restructured debt securities.
• Tax Controversy, Wealth Management: Assisted in the forensic valuation of goodwill related to the acquisition of a Brazilian hedge fund and private equity firm by a major global investment bank. Performed market research of the Brazilian hedge fund industry to establish the proper financial and tax accounting treatment of the acquisition by the investment bank.