Financial Advisory and Valuation – Quantum of Damages

Principal Richard Caldwell has experience valuing businesses and financial instruments across a range of industries, from electricity to banking to telecoms, and in a range of settings. He routinely provides economic and financial advice concerning corporate finance and valuation, the pricing of securities and derivatives, and assessments of regulatory issues.

Principal Darrell Chodorow specializes in analyzing complex business and financial issues in the context of damages quantification, asset valuation, and evaluating the substance of transactions. His work has covered a wide variety of industries, and he has specialized expertise in the energy and natural resources sectors.

Principal Dr. José Antonio García is an expert in economic and financial analysis and regularly provides advice on litigation matters as an expert witness. He offers particular experience in the estimation of damages in a variety of industries, including the energy, bank-assurance, and telecommunications industries.

Principal Andy Harington has over 25 years of diverse experience in business consulting, M&A transaction advisory, and general finance consulting for companies in a variety of industries and ranging in size from large, multi-national public companies to local, privately owned companies.

Principal Dan Harris has been retained by major law firms and their clients to testify on damages and quantum in international arbitration proceedings in a variety of forums, including the International Centre for Settlement of Investment Disputes, the International Chamber of Commerce, and the Permanent Court of Arbitration.

Principal Carlos Lapuerta is an expert in economic analysis and financial valuation, which he frequently applies to estimate damages in international arbitration proceedings. He has served as an expert witness in international arbitration proceedings, including many disputes between investors and sovereign states over the alleged breach of bilateral investment treaties.

Principal M. Alexis Maniatis has more than 30 years of experience as a consultant, providing advice and expert testimony on the application of economics, accounting, and corporate finance in estimating commercial damages, project valuation, and regulation.

Principal Emeritus Stewart Myers is one of the world’s leading authorities on the theory and practice of finance. He is a Professor of Financial Economics at the MIT Sloan School of Management, past President of the American Finance Association, and a Research Associate of the National Bureau of Economic Research.

Principal Benjamin Sacks has over 20 years of experience assisting corporations, investors, US government agencies, and foreign governments to develop and present economic and financial testimony in complex litigations and arbitrations.

Financial Advisory and Valuation – Quantum of Damages – Future Leaders

Principal Dr. Florin Dorobantu specializes in valuation and structured finance issues with a focus on international arbitration. He has experience conducting complex discounted cash flow analyses, including building cash flow forecasts, estimating the impact of business and financial risks on cash flows and discount rates, and incorporating the value of real options in the valuation of long-lived assets.

Economics – Competition Economists

Principal Dr. Pinar Bagci is a co-leader of Brattle’s Europe Antitrust & Competition practice and has 25 years of experience advising on the economics of competition, regulation, and damages assessment. She has provided economic analysis and expert witness testimony in commercial litigation and international arbitration, as well as throughout competition and regulatory investigations in Europe, Australasia, and the United States.

Principal Dr. Peter Davis is a co-leader of Brattle’s Europe Antitrust & Competition practice and is an expert on competition damages actions, mergers and acquisitions, cartels, and market investigations. He is a former Deputy Chairman of the UK Competition Commission (CC), now a part of the UK Competition and Markets Authority (CMA).

Principal Dr. Renée Duplantis is the leader of Brattle’s Canadian Antitrust & Competition practice. She has nearly 20 years of experience involving complex competition matters in Canada, the US, and Europe. She specializes in the empirical analysis of competition issues, with a primary focus on quantifying the competitive effects of mergers.

Principal Dr. José Antonio García is an expert in economic and financial analysis and regularly provides advice on litigation matters as an expert witness.

Principal Daniel McFadden is the Presidential Professor of Health Economics at the University of Southern California, where he has joint appointments at the USC Sol Price School of Public Policy and the Department of Economics at USC Dornsife College. Professor McFadden was awarded the 2000 Nobel Prize in Economics for his work developing methods and theory used in analyzing how consumers and households make choices from sets of discrete alternatives.

Principal Emeritus Dr. Robert Wilson has extensive experience conducting analyses for antitrust, regulatory, and other competition-related matters, including economic damages and issues involving intellectual property. He has served as an expert witness in antitrust cases in federal court, including in US v. AT&T, and in telecommunications regulatory proceedings before state commissions.

Economics – Competition Economists – Future Leaders

Senior Associate Ian Cass has a decade of experience involving complex competition matters, with a particular focus on merger analysis of competitive effects and efficiencies. His expertise includes supporting clients and experts in matters in front of the Canadian Competition Bureau and the Competition Tribunal, as well as in high-profile antitrust litigation in the US.

Senior Consultant Dr. Dimitri Dimitropoulos conducts research and analysis in the economics of mergers, anticompetitive conduct, intellectual property, and monetary damages. His expertise includes applying economic theory and econometric methods to examine complex issues relating to competition and innovation.

Click here to see the full list of Brattle experts recognized by Who’s Who Legal.

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The post The Impact of EU State Aid Decisions on Investment Treaty Awards appeared first on Brattle.

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The post Country Risk appeared first on Brattle.

Principals Dan Harris and Dr. Fabricio Nuñez and Senior Associate Ilinca Popescu contributed “Country Risk,” a chapter about the political and economic risks associated with an asset’s geographic location that can significantly affect the asset’s value. The authors argue that country risk should play a larger role in damages analyses and discuss whether – and how – to account for risks protected under investment treaties versus unprotected risks.

Principals Richard Caldwell and Dr. José Antonio García and Associate Benjamin Lawrence contributed “The Impact of EU State Aid Decisions on Investment Treaty Awards,” a chapter analyzing the European Commission’s doubts about the compatibility of the Antin award with state aid guidelines. The authors argue that the Commission’s doubts are unfounded. They also consider the wider implications of the Commission’s reasoning, in particular for continued investment in renewable energy sources.

Principals Richard Caldwell and Dr. Lucia Bazzucchi and Outside Expert Andy Ricover contributed “Transportation Arbitrations and Complexities in Estimating Damages,” a chapter on investor-state disputes in the transportation industry. The authors provide an overview of different transportation-related investments – and, in turn, arbitrations – and their common features.

The full chapters are available below.

View Country Risk Chapter

View EU State Aid Decisions Chapter

View Transportation-Related Arbitrations Chapter

The post Brattle Experts Contribute Chapters on Country Risk, EU State Aid Decisions, and Transportation-Related Arbitrations to Law Reviews Book appeared first on Brattle.

In a chapter included in the recent 6^th edition of The Renewable Energy Law Review, Brattle Principals Dr. José Antonio García, Dr. Pedro Marín, and Jack Stirzaker provide an in-depth overview of the policy and regulatory framework and recent renewable energy project development in Spain, including green hydrogen projects. After the recent legislative and regulatory reforms introduced in Spain – especially the return to stable, predictable fixed feed-in tariffs (FiTs) per MWh over a long period and the approval of new renewable energy targets and commitments for 2030 – the Spanish renewables market is gaining momentum and is expected to provide attractive opportunities in the next decade. Despite the limited capacity allocation in the 2022 renewables auctions, the authors expect strong growth in the Spanish renewables sector in the coming years.

The full chapter is available below.

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