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Nederland

How to navigate the damages expert’s valuation report

21 April 2017

On Thursday 20 April Accuracy hosted a well-attended event for litigation and arbitration lawyers on the topic ‘How to navigate the damages expert’s valuation report.’

 Accuracy’s valuation experts Bas van Helden (Accuracy Netherlands) and Roula Harfouche (Accuracy UK) provided insights into major points to look out for when reviewing a damages expert’s report such as the basis of valuation (fair value or market value), the “historical” but for scenario, the discount rate and pre-award interest.

Bas van Helden, a partner in Accuracy’s Amsterdam office, has broad experience with complex valuation situations including damage assessment, valuation in dispute contexts and expert determinations. He is currently working on an independent valuation of a SaaS company in relation to the squeeze-out of minority shareholders before the Enterprise Chamber of the Dutch court and has recently prepared an expert report for a financial services company in an IP dispute with a competitor. 

Roula Harfouche, a partner in Accuracy’s London office, specialises in contentious valuations, with over 17 years’ experience in complex damage assessments in arbitration and litigation cases involving contract breaches, investment treaty claims, transaction-related disputes, and IP infringement. She has been appointed as expert, has testified, and has been involved in matters in LCIA, ICC, SCC and ICSID arbitration forums, under the UNCITRAL rules, and before the UK High Court, Family Division and Patents Court.
 
For more information please contact Bas van Helden at bas.van.helden@accuracy.com or Roula Harfouche at roula.harfouche@accuracy.com.

Nederland

Accuracy- ACG lunch meeting: ‘Social impact investing - creating a better future’ 31 March 2016

11 April 2016

Measuring the social impact we have on the world was front of mind in the recent ACG networking lunch, kindly sponsored by Accuracy. 
ACG, Association for Corporate Growth, is a worldwide network with chapters in almost every country. ACG Holland is the network for middle market dealmaking professionals: private capital providers, M&A advisors, corporate executives, accountants, attorneys and other related service providers.

The theme was social impact investing and in the spirit of the discussion, the selected venue was Instock - a cosy restaurant in Amsterdam which serves delicious dishes from products that would otherwise go to waste. Ingredients are collected daily from local supermarkets by an electrical food rescue car and the day’s menu is driven by what they collect.  

Social impact Investing is seen as the new sustainable investing and is fast becoming a hot theme. In an inspiring presentation, guest speaker Warner Philips of Social Impact Ventures explained that social impact investment funds like his, support companies that are delivering scalable solutions for societal problems. A well-known example is Tony's Chocolonely. This Dutch company is passionate about chocolate but even more passionate about people. Their mission is therefore to create slave free chocolate with reliable and trustworthy cocoa farmers who can guarantee that everyone involved in production will be given a fair wage.

 

Warner's fund invests exclusively in Dutch social enterprises who champion one of six causes: clean tech, bio systems, economic development, civic engineering, health and wellbeing and education. His team look at every potential investment (numbering 800 so far) through a social impact lens: what is the societal problem the company is trying to solve? Who are the beneficiaries? Can the social impact be measured? And then of course - will it create a sufficient financial return? The latter is important but the social impact even more so for if a company fails to deliver on its social impact target, Warner's team relinquish their financial return on the investment which is then donated to charities. In the companies selected for investment, Social Impact Ventures takes a minority stake and then draw on their own entrepreneurial experience and network to help the companies grow. Lunch sponsor Accuracy and Van Doorne are just a few of the companies lending support in the investment process.

 

Taxi Electric is one of the companies in Warner's fund. Founded in 2011 and based in Amsterdam, it is the first fully electrical taxi service in Europe and its primary mission is to make the taxi market ‘greener’ with a fully electrical fleet of Nissan Leafs and Tesla’s. In addition to making the taxi market ‘greener’, Taxi Electric aims to contribute positively to society on other levels. This is reflected in their HR policy – recruiting actively among friendly unemployed 50+ people who have had a difficult time getting back to work, enabling several dozens of long-time unemployed to work. The impact targets set and measured for this investment are firstly the number of kilometers driven by Taxi Electric, representing a) the amount of GHG avoided (+ POx & NOx) and b) the number of passengers who become aware of electric driving by experiencing the Taxi Electric service. Secondly, the team measure the number of drivers hired by the company who fall in their target group (i.e. 50+ and/or distance to the labour market).

 

Warner's hope is to see a world where it is normal to be social and responsible. To walk into a supermarket where organic is the norm - and non-organic is the specially priced food in the dedicated section. We've a long way to go on this but that's exactly why he has a fund! The event was a great success; interesting subject, active discussions and valuable networking with more than 40 participants over a good lunch.


For further information please contact Bas van Helden or Murkje Koopmans.

Nederland

Lunchbijeenkomst Association for Corporate Growth (ACG): Paradox van de Nederlandse kantorenmarkt

20 April 2015

Jeppe de Boer, Founding Partner van Masterdam en voormalig Chief Investment Officer van OVG Real Estate, gaf tijdens de ACG lunchmeeting aan dat het Nederlandse commercieel vastgoed een van de meest innovatieve vastgoedmarkten ter wereld is.

 

Daarnaast gaf Sven Brookhuis, oprichter van SKEPP en HNK (Het Nieuwe Kantoor), met behulp van voorbeelden aan dat jonge vastgoedondernemers een belangrijke rol spelen in een niet te stoppen veranderende vastgoedwereld.

 

Op dinsdag 7 april 2015 organiseerde ACG Holland, de community in Nederland voor het middensegment van dealmaking professionals zoals private equity investeerders, M&A adviseurs, corporate executives, accountants en advocaten een lunchbijeenkomst met als thema "Disruptive Real Estate" op de Zuidas in Amsterdam. Deze bijeenkomst werd georganiseerd door Accuracy in samenwerking met ACG. Accuracy is een internationale dienstverlener die bedrijven adviseert bij financiële vraagstukken in complexe situaties zoals M&A, geschillen en herstructurering.

 

Jeppe besprak de vastgoedtrends van de afgelopen jaren. De voorkeuren van consumenten lijken sneller te zijn veranderd dan waar dan ook ter wereld. Dit heeft geresulteerd in een verschuiving naar flexibele kantoren, online retail en meer stedelijk wonen waardoor veel traditionele marktleiders de weg vrij hebben moeten maken voor nieuwe investeerders en jonge innovatieve bedrijven. Deze nieuwe spelers hebben een enorme potentiële toegevoegde waarde omdat ze werken met nieuwe ‘value drivers’ zoals gastvrijheid, service, community building, flexibiliteit, technologie en branding. Veel jonge innovatieve ondernemers dreigen overigens wel vast te zitten, ondanks hun initiële succes. Het bereiken van een daadwerkelijke omvang en winstgevendheid blijft een uitdaging.

 

Het verkrijgen van toegang tot financiering is ook lastig. Het doel van Masterdam is om bedrijven te faciliteren bij hun strategische ontwikkeling en hun groei te versnellen. Masterdam neemt deel met eigen vermogen, strategische input en toegang tot externe financiering.

 

Vervolgens liet Sven op een overtuigende wijze zien hoe de noodlijdende commerciële vastgoedmarkt wordt getransformeerd en hoe kantoren kunnen inspelen op de veranderende behoeftes en wensen van de hedendaagse huurders.

 

Een kantoor is niet alleen een werkomgeving, maar ook een plek waar je je thuis voelt, een kop koffie kunt drinken en een plek om mensen te ontmoeten. De voorbeelden van HNK, oVVice, BounceSpace en Atoomclub, in Sven zijn PechaKucha presentatie van 6 minuten en 40 seconden, tonen aan dat er
volop mogelijkheden zijn voor jonge vastgoedondernemers.

 

Voor verdere vragen kun je contact opnemen met Bas van Helden (Partner Accuracy Nederland) via +31 (0) 20 20 66750.

 

De presentaties zijn hier te downloaden:

Frankrijk

Carrying out a successful spin-off

Breakfast - 28 Januari 2010

What are the key steps in the preparatory phase of a spin-off?

The main point is the mobilisation of the team that will carry out the project: identification of key contributors, alignment of interests, and preparation of an ambitious but realistic business plan are all opportunities to forge the cohesion of the team acquiring its independence. For the vendor, it is important to ensure the loyalty of the outgoing team, and in the case of the establishment of an LBO, it is often impossible to compete with the financial terms offered by financial investors. In this case, loyalty can only be preserved: it will rely on the mutual respect of common values shared well before the launch of the planned transfer.