Contact details
Professional History
Education
Accreditations
- Currently advising multiple claimants on lost opportunities related to the revocation of a banking license in a Scandinavian country, which ultimately led to the collapse of a bank in North America. The estimated loss exceeds $200 million, excluding pre-award interest. The case has not yet been filed.
- ICSID Arbitration Involving Eastern-European Owner of Financial Institution vs. Sovereign Eastern-European State (Respondent): Calculated the value of an investment in a large bank that the Claimant alleges was expropriated by the sovereign state. The task included reviewing the calculation presented by the Claimant. The case was resolved.
- PCA Arbitration Under UNCITRAL Rules Involving Alleged Expropriation of Subsidiary Bank by CIS Sovereign Nation (Claimant): Calculated the value of a subsidiary bank allegedly expropriated by a sovereign nation, as well as the damages related to loans defaulted on as a result of the expropriation. The case was settled before the hearing.
- ICC Dispute Between Private Oil & Gas Development Company and Eastern European State (Claimant): Managed the valuation of multiple offshore oil and gas properties to determine the Claimant’s share of a production-sharing contract in the Balkan region. The case was discontinued due to jurisdictional issues.
- PCA Arbitration Dispute Between a Real Estate Developer and Balkan State (Claimant): Assessed damages related to the alleged expropriation of thirty-four real estate development properties, including hotels, resorts, offices, retail spaces, and more. The decision was rendered in favor of the State for jurisdictional reasons.
- Advising a Large European Chemical Company on Financial Exposure Due to EU Sanctions: Assisted our European team in advising a large multi-billion European chemical company regarding its financial exposure due to European Union sanctions imposed on two of its affiliated entities. Our economic analysis and conclusions are presented to the European Union General Court.
- Advised Unsecured Credit Committee (“UCC”) of a large U.S. nuclear reactor producer who filed for Chapter 11 Bankruptcy protection: The engagement involved assessment of non-capitalized, and capitalized cost as well as construction in progress (“CIP”) account related to Vogtle nuclear power plant and VC Summer nuclear power plant. Assessed potential economic risks of various transactions assumed by the institution and advised UCC on the settlement terms via waterfall calculation. Case settled.
- ICSID Arbitration Dispute Between Vattenfall AB et al and The Federal Republic of Germany (Respondent): Advised respondent on damages claimed due to changes in public policy which have resulted in a shut-down of eight nuclear power plants in Germany after Fukushima Daiichi nuclear disaster from March 2011. Case involved valuation of three nuclear power plants with varying interest, application of the game theory which included twelve nuclear power plants to determine future value of production certificates and calculation of the fair market values in the but-for and actual world following various scenarios related to the plant that continued to operate in the actual world. Case settled.
- ICSID Arbitration Dispute Between a Consortium of Financial Investors in Renewable Energy Projects and a Sovereign State (Claimants): Advised a consortium of banks on the impact of regulatory changes on projected cash flows for seventy-four photovoltaic and solar thermal projects, underlying over 300 individual or syndicated loans issued by various banks. The work involved assessing the impact of complex and interrelated regulatory changes on these projects of varying sizes and characteristics. Due to the high leverage financing structure, the analysis included interest rate swaps, breakage costs, and modeling specific debt restructuring scenarios with detailed cash flow waterfalls. The case is currently awaiting the tribunal’s decision.
- ICSID Arbitration Dispute Between a Leading Hungarian O&G Company and Balkan State (Claimant): Advised the claimant on the suitability of working capital and purchasing patterns. Conducted economic assessments to determine the optimized level of gasoil inventories at various chemical plants and the pricing strategy employed. Additionally, provided advice on optimal purchase decisions, considering long-term versus short-term contracts. The case was resolved in favor of the Claimant.
- UNCITRAL Commercial Arbitration Involving Part Owner of an Oil & Gas Concession in the East China Sea and Chinese O&G Conglomerate (Respondent): Analyzed and criticized the Claimant expert’s DCF model and its main financial inputs. Advised the Respondent on the fair market value of the offshore oil and gas properties. The decision was rendered in favor of the Respondent, awarding counterclaim damages.
- LCIA Commercial Arbitration Involving an Italian Energy Company and a U.S.-Based LNG Producer (Respondent): This case involves a dispute over a 20-year long-term LNG Sale and Purchase Agreement (“SPA”) and the risk-sharing arrangements between the parties. The case focuses on the innovative design and associated risks of a greenfield LNG export terminal in the U.S., from which the Italian energy company agreed to purchase LNG. The facility’s novel construction and modular design presented unique operational and regulatory risks compared to traditional LNG projects, leading to complexities in determining contract fulfillment and potential damages. The claim, which is due to an alleged delay in cargo commissioning, exceeds $1 billion. The case is ongoing.
- ICC Arbitration Involving a British Energy Company and a U.S.-Based LNG Producer (Respondent): This case concerns a 20-year agreement for the supply of 2 million tons per annum of LNG from a greenfield LNG facility in the U.S., with a total capacity of 12.4 million tons per year. A key aspect of the SPA between the Claimant and Respondent is that LNG production can commence once essential modules are operational, although the official Commercial Operation Date (“COD”) requires full completion and commissioning of all facilities. The claim, which is also due to an alleged delay in cargo commissioning, exceeds $1 billion. The case is ongoing.
- Advised a large electric company on the valuation of their nuclear portfolio located in Brazil: Worked together with Opex and Capex experts to assess the fair market value of the existing and partially completed nuclear power plants which the client planned to put up for sale. After completing the valuation of the nuclear power plants my scope was completed.
- PCA Arbitration Dispute Involving Three U.S. Shareholders and South Asian State (Claimant): Calculated damages for the majority shareholders following actions by the sovereign state that allegedly led to the destruction of a project involving two 1,200 MW coal-fired power plants, after its removal from the Master Plan for Electricity Development in March 2016. The damages calculation included three scenarios and the legal allocation of damages between Fair and Equitable Treatment and Expropriation claims. Total damages exceeded $3.5 billion, including pre-award interest. The case is currently awaiting the tribunal’s decision.
- ICSID Arbitration Dispute Between U.S. Trading Company and South American State (Claimant): Calculated the fair market value of a gold trading and logistics business operating across North America with a newly established supply chain routes in Peru and other South American states. Also, tasked to calculate the FMV of seized and immobilized gold inventory. The claim was dismissed on the grounds that the trading operations did not constitute covered investment.
- ICC Arbitration Regarding The Alleged Local Distribution Firm’s Breach of Contract for Distribution of Heavy Machinery in Pakistan (Respondent): Assessed damages in a dispute between a global manufacturer of heavy machinery and a local distributor following the termination of their distribution contract due to alleged actions by the Claimant. The case was resolved in favor of the Respondent, who was also awarded legal costs.
- US Litigation Between Midstream Natural Gas Processor and a Subsidiary of a Major U.S. Oil and Gas Company (Defendant): Analyzed the plaintiff expert’s damages calculation, which exceeded $1 billion, by assessing prior and existing dedications, the amount of natural gas attributable to the dedicated area, and future forecasts regarding gas production and alleged lost profits. The case is ongoing.