Financial Opinions for the Judicial System

Prometheus Financial Advisory’s team of professionals specializes in providing business and economic advisory services in connection with legal and regulatory procedures, including preparation of economic and business opinions, as well as giving evidence as expert witnesses. The firm’s CEO, Yuval Zilberstein, heads this activity and regularly gives evidence in court as an expert witness.

 

The firm’s team of professionals was appointed by the economic court judges as financial advisors in numerous complex cases, and they are highly esteemed for their work in that capacity. Thus, for example, the honorable Judge Kaboub noted in one of his rulings, that the expert opinion prepared by Prometheus Financial Advisory was, “comprehensive and well-reasoned”. Judge Kaboub further noted that the said opinion is a “professional and highly thorough work” (Farhi vs. Atlas, section 52). In another ruling, the honorable Judge Kaboub wrote that Yuval Zilberstein’s work was “professional, clear and well-reasoned.” (Cohen vs. Cohen, section 7).   

 

The firm has accumulated tens of years of experience of preparing expert opinions that are backed by credible arguments provided as part of legal proceedings involving leading public companies, as well as private companies and entities. This experience has been converted into the proven ability to defend the opinion when giving evidence as an expert witness (against the opinion presented by the other party to the proceedings).  

 

When necessary, the expert opinion is offered in collaboration with the client’s attorneys, and entails the formation of well-defined, convincing, clear and creative economic arguments. This process incorporates in-depth business, financial and accounting knowledge that is made comprehensible to readers who are not financial and/or accounting experts.

 

 

Services Offered:

  • Giving evidence in courts as expert witnesses, preparing counter expert opinions and assisting in
    witness cross-examination.
  • Opinion regarding valuation of controlling shareholding/minority interest and tradable
    shares of public companies/non-tradable shares of private companies.
  • Opinions pertaining to economic damage assessment based on various types of damage.
  • Opinions pertaining to complex accounting and economic issues (for example, inequitable treatment of minority interest, improper business practices).
  • Financial opinions and valuations for tax purposes, including transfer prices.
  • Calculating the impact on share price of misstatement in financial statements/prospectuses and damage assessment according to different approaches.
  • Advisory services and enrichment lectures to legal entities, policy makers and numerous senior professionals in the fields of business valuation, financial statements analysis and economic damage assessment techniques.

 

Case Examples:

 

  • Class Action in the Makhteshim Agan ChemChina Deal –  the honorable Judge Dania Keret Meir of the economic court requested Yuval Zilberstein (CPA), CEO of Prometheus Financial Advisory, to prepare an expert opinion, assessing the fairness and reasonability of this class action settlement. His expert opinion was approved by the Attorney General of Israel, and adopted by the honorable court of law.
  • Financial Opinion for Allocation of Consideration from Companies under Liquidation –  The honorable Judge Irit Weinberg Natovitch of the central District Court, requested Prometheus to determine the allocation of the consideration received from the sale of three defense industry companies under liquidation. The conclusions drawn from the expert opinion were highly significant for the companies’ creditors and they were fully adopted by the honorable court of law.
  • Financial Valuations for a Real Estate Company – The honorable Judge Khaled Kaboub of the economic division of the Tel Aviv district court appointed Prometheus to assess the value of  the minority interest of a real estate company operating in the entrepreneurial and profit-generating real estate sectors. The expert opinion was fully adopted by the honorable court of law.