We were retained by counsel to a hotel developer to assess the damages suffered due to a lender’s failure to advance contracted project financing. The developer was unable to secure alternative sources of financing and as a result was unable to advance the project. The developer claimed the loss of value of the project as a result of the lender’s breach of contract.
We were engaged to prepare an analysis setting out our opinion of the loss of value to the developer from the alleged breach of contract. Our analysis involved a detailed cash flow assessment, an independent valuation of the development company and a determination of the loss of value. Our report was provided in the context of litigation and was used in arriving at a settlement before trial.