A quick guide to calculating economic damages in commercial arbitrations
20 April 2016
The key driver of international commercial arbitrations is almost always the claimant’s desire to recover damages – to a greater degree even than in disputes in the domestic courts. Therefore the quantum element of arbitrations usually requires three things: expert knowledge of the relevant law, expert knowledge of accounting principles (which tend to be similar whichever jurisdiction one is in), and precise quantification of the damages sought.
In the following overview, Gervase MacGregor, David Mitchell and Andrew Maclay, take you on a whirlwind tour of the basic principles underlying the quantification of damages before highlighting some of the principal issues occurring in many of the arbitral awards forming the body of precedent in international arbitrations, as well as featuring in many arbitrations in which BDO has provided expert witness testimony.
Read the full article in the Global Arbitration Review website.