R22 Million settlement for motor vehicle accident
 The award is one of the largest ever made by the Road Accident Fund and represents a milestone in the long and successful history of Adams & Adams’ personal injury practice. In the collision giving rise to the third party claim, the client sustained a moderate brain injury to the frontal lobe, severe facial injuries and the loss of his right eye. At that time he was engaged as an account manager at one of the world’s largest technology solution providers, supplying IT infrastructure, global services, business computing and imaging & printing services to a major South African company operating internationally. It was common cause that the client’s career was on the cusp of progressing to a global level and that, but for the accident, he would have worked overseas. Adams & Adams’ extensive experience in personal injury claims was essential to the outcome of the matter as the quantification of the claim proved to be complicated and challenging in that it incorporated several issues of industrial psychology as well as various actuarial intricacies. The quantification took into account the cash and commission components of the client’s remuneration package, numerous employee benefits and stock options (which necessitated a calculation of the future loss of share options using the Black Scholes model). The probable advancement to an international position necessitated consideration of international tax laws and exchange rates, as well as varying retirement ages in different countries. The client’s disability pension also had to be factored into the post accident equation. While the result achieved in this particular matter was certainly extraordinary, Adams & Adams follow a similar approach in all personal injury claims, investigating all aspects relating to the claim, involving all experts whose evidence will assist in obtaining proper compensation, and preparing each matter so that the claim can proceed to trial if an acceptable settlement proposal is not received. Our personal injury clients can rest assured that Adams & Adams’ expertise and excellence will ensure the best possible outcome to their matters. |
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| 3/02/2009 | Posted in: Commercial Law and Negotiating & Drafting | ||
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The firm practises directly in several Southern African countries and through long-established associates in others.
