Quantification of Damages and What is Reasonably Viewed as Proven Versus Speculative - Journal of Damages in International Arbitration - Vol. 2, No. 1

Author(s):

José Alberro

Thomas D. Halket

Ian A. Laird

Klaus Reichert

George Ruttinger

Laurence Shore

Page Count:

28 pages

Media Description:

1 PDF Download

Published:

April, 2015

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Description:

Originally from Journal of Damages in International Arbitration

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The panel was convened at 1:53 p.m. on 6 October 2014. The

panelists include Jose Alberro, senior advisor in Cornerstone

Research’s Washington D.C. office, Thomas Halket, partner in

Halket Weitz’s New York office, Ian Laird, partner in Crowell

Moring’s Washington D.C. office, Klaus Reichert, senior counsel in

Brick Court Chambers in London, and George Ruttinger, a partner

in Crowell Moring’s Washington D.C. office. The panel was

moderated by Laurence Shore, a partner in Herbert Smith

Freehill’s New York office.

Remarks by Laurence Shore

MR. SHORE: Welcome to session three, during which we will

examine the arbitrators’ perspective on the quantification of

damages that are reasonably proved versus those that are

speculative. I’m Larry Shore. I work at Herbert Smith Freehills in

New York, and I have the pleasure of chairing this session. First,

let me give you a very brief outline of our organization. I’ll

introduce the speakers and their topics, they’ll have about ten

minutes each to deliver a talk on their topic, and then they will be

able to comment on each other’s for a few minutes and we’ve

reserved about 10 to 15 minutes at a minimum for questions at

the end. After all, this is the session that is first among equals

because these are the decision makers.

We’ll have a general discussion to begin from our first

speaker, and then we’re going to drill down into three specific

topics. And then we’re going to conclude with the triple threat

economist/arbitrator/quantum expert.

So I’ve asked our speakers to focus on concerns that they have

from an arbitrator’s perspective on reports and damages

submissions that they have seen and how they have resolved

those concerns—what helps and what doesn’t help in reaching a

damages determination.

So let me introduce our five speakers.

Leading off is going to be Klaus Reichert, who is the senior

counsel working out of Dublin and Brick Court Chambers in

London. He frequently sits as an arbitrator in investment-treaty,

commercial-arbitration cases and also as counsel. And when we

come to it in a moment, his topic is going to be the general one,

which will set the tone for our session—his expectations when

he’s a sitting arbitrator and hearing damages submissions.

After Klaus there will be Thomas Halket of Halket Weitz in

New York, an Adjunct Professor at Fordham law School and also
an associate member of Tanfield Chambers in London.