Have you ever wished that you were more literate – or rather numerate - in damages in arbitration? GAR has published a book for anyone who has.
Published in December 2016, Global Arbitration Review’s The Guide to Damages in International Arbitration is a desktop reference work for those who’d like greater confidence when dealing with the question of damages.
It covers all aspects of damages – from the legal principles applicable, to the main valuation techniques and their mechanics, to industry-specific questions, and topics such as tax and currency. Most important of all, it is pitched at the entry level, keeping things simple and easy to follow wherever possible.
Tim Allen and Ermelinda Beqiraj, partners in the Forensic Services Disputes practice, have contributed Chapter 10 on Assessing Damages for Breach of Contract. They look at some of the challenges that damages experts, lawyers and tribunals need to deal with when valuing damages in breach of contract claims that do not involve company valuations, including:
While an ability to understand and evaluate accounting information is, of course, essential, the expert must also bring sound commercial and professional judgement to bear in constructing a robust “but for” scenario for damages based on the evidence available. No expert can hope to navigate these complexities alone. A robust assessment of loss requires a combination of documentary evidence, evidence from witnesses of fact and other experts (where relevant) as well as clear instructions from the legal team.
The full article can be found below: