From expertsdirect.com: Philip and Kam Wing Yan contested the validity of two expert valuations by Ernst & Young (EY) regarding commercial properties tied to corporate entities and trusts, with disagreements over whether the initial report could be revised.

The court ruled that once an expert issues a final determination, they become functus officio and cannot alter it without mutual consent or specific contractual authority, and the first report was not binding due to the brothers’ disagreement over its interpretation.

The court also found that a reasoned approach in the first report did not constitute a manifest error.