Petro-Diamond Inc. v. Verdeo Inc. et al.

Counsel for Petro-Diamond retained Carlyn Irwin of Cornerstone Research in a case involving allegations of fraudulent transfer and alter ego.

Retained by Manatt, Phelps & Phillips

Counsel for Petro-Diamond retained Carlyn Irwin of Cornerstone Research in a case involving allegations of fraudulent transfer and alter ego. Ms. Irwin provided testimony on the issues of fraud, and on forensic accounting.

Ms. Irwin’s analysis was sensible and believable.

In support of the theory of fraud, her analysis showed that the defendants used two materially different sets of books for no discernible legitimate purpose. In addition, Ms. Irwin’s testimony demonstrated that the defendants’ transfers of assets were undocumented and that they received no reasonably equivalent value in return. She also established that the defendants’ purported loan with an overseas corporation was not authenticated.

In finding decisively for our clients, the judge cited Ms. Irwin’s testimony: “Principal testimony in support of these [the plaintiff’s] theories came from Carlyn Irwin, an experienced forensic accountant.…Irwin’s analysis was sensible and believable.”