A former general partner of a Boston private equity firm was in a dispute with his former partnership for monies owed to him pursuant to his interest in a limited partnership investment fund. Among the items disputed by the parties were the partners’ capital accounts, historical partner loans, and other activity. Counsel representing the former general partner contacted our experts to conduct a forensic analysis of the partnership’s historical books and records, including multiple tax returns.
Our experts analyzed the partnership’s historical books and records, as well as multiple partnership and individual partner tax filings. The partnership agreement and separation agreement were also examined from an accounting, finance, and economic standpoint. Based on these analyses, we were able to reconstruct several years of partners’ financial activity, including the capital accounts related to the limited partnership. We determined that the partnerships’ allegations regarding monies owed to it from the general partner were unsupported by documentary evidence, and did not follow accounting and tax authoritative guidance. Our experts calculated the amount due to the former general partner from the partnership in a clear, concise manner.
We provided a written expert report and arbitration testimony, which led to counsel for the general partner winning an arbitration award at the American Arbitration Association hearing in Boston.
For additional information about this or any related topics, contact Elisabeth da Silva, CPA, CFF. Elisabeth is a Partner in the Forensic Accounting practice at DGC, and can be reached at 781-937-5792 or firstname.lastname@example.org.