Partner & Leader
From a financial expert’s angle, in a dispute first is to find out where the money is, second what caused the damage and third to quantify the damages. There are three basic aspects one needs to follow – accuracy, completeness and independence. Accuracy is imperative as a single inaccurate line in a report can get the entire claim discredited.
Tribunals are made up of experts, so expert witnesses need to really know their subject and the case matter else they are likely to be ‘hot tubbed’.
Another crucial aspect is documentation and discovery. There are three fundamental questions – what to produce, how to produce and for whom to produce. Are you giving out your confidential information, are you giving information on margins or your trade secrets or your customers or vendors and your pricing? We see a struggle with discovery because between claims and financial numbers, clients do not want to part with information. For an effective arbitration, attention to numbers is very important. In preparing reports remember the power of simplicity prevails. A concise 65-page expert report is any day more effective than a 65000 page long confusing report.