Experts Perspective -- What is Necessary to Support an Opinion of Damages - Journal of Damages in International Arbitration - Vol. 2, No. 1

Author(s):

Ermelinda Bequiraj

Laura Hardin

Wayne Wilson

Larry Work-Dembowski

Victor Goldberg

Page Count:

30 pages

Media Description:

1 PDF Download

Published:

April, 2015

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The panel was convened at 11:45 a.m. on 6 October 2014. The

panelists include Ermelinda Bequiraj, a partner at PricewaterhouseCoopers,

Laura Hardin, managing director with

Alvarez and Marsal, Wayne Wilson, managing director with UHY

Advisors FLVS, Inc., and Larry Work-Dembowski, a senior

attorney in Cleary Gottlieb Steen & Hamilton’s Washington D.C.

office. The panel was moderated by Victor Goldberg, the Jerome

L. Greene Professor of Transactional Law at Columbia University

Law School.

Remarks by Victor Goldberg

MR. GOLDBERG: This is the panel on experts. We have three

accountants and a lawyer on the panel. I am none of the above.

I’m the economist who teaches at a law school and occasionally

works as an expert in these matters.

What we’re going to do is I’m going to have my panel give a

very, very brief description of who they are and then we can go

on. Laura you may begin.

MS. HARDIN: My name is Laura Hardin, and I am a managing

director with Alvarez and Marsal. I am a damages expert, and

really do damages in oil and gas, telecommunications, and a

variety of other types of areas as well.

So the topic that I’m going to address today is what is required

to support a damages claim under contract claims or basically

future lost profits. As Miriam Harwood was saying this morning,

this is a very complex process, and there are lots of little moving

pieces. So if I was actually going to do this topic justice, I would

be sitting here for two or three days going through all of these

issues and writing my book stock report. But I’m going to just

focus on a few of the issues that we need when you’re doing a

claim of future lost profits, and I am going to specifically focus on

what is a damages expert’s favorite damages calculation method,
which is a calculation of lost profits using discounted cash flow or