Loss Contingency Assessment video
Every filing, ruling and counsel letter read each quarter, every lawsuit placed on the ASC 450 grid with its passages, and only the moves brought to a lawyer. 1:18
What the film shows
Rates each lawsuit probable, possible or remote under ASC 450 and drafts the disclosure
Agents read every new filing, ruling, counsel assessment and settlement offer, propose each lawsuit's tier and range with the passages cited, surface only the matters that moved since last quarter, check counsel's audit letters against the grid and draft the footnote. The Deputy General Counsel confirms each move, the General Counsel signs and the Chief Accounting Officer books the accrual.
Transcript
- Loss Contingency Assessment rates lawsuits under ASC 450 and drafts the disclosure, for general counsel.
- One company booked a probable lawsuit loss late; the SEC charged its general counsel.
- Sablewood's sixty-three lawsuits sit on the accrue or disclose grid.
- Agents read every filing and counsel letter, and surface the three that moved.
- Summary judgment was denied in the Marrick wage case; counsel now calls a loss probable.
- With no better figure, the six and a half million low end is accrued.
- Theo confirms the three moves, and the footnote redlines itself, every number cited.
- Counsel's audit letters are checked against the grid first.
- Odalys signs: the quarter's review took two days, not three weeks.
- Built on Botminds: agents, data, screens and governance on one platform.
The narration as written for the film. Captions are on the player.