Independence, experience and sector knowledge are the key factors in selecting an expert witness, says Eduard Saura, Madrid Managing Partner of independent financial analyst firm Accuracy.
Con el incremento de conflictos corporativos cada vez más complejos, las empresas optan por la seguridad de analistas expertos y con experiencia, los cuales manejan datos con soltura y son capaces de hacer “careos” de forma rigurosa, dice Eduard Saura de Accuracy.
“In light of increasingly complex commercial environments, and international arbitrations, we are seeing law firms in particular mirroring their own clients – they want more senior experts, who have a mastery of the data and can stand up to rigorous cross-examination.”
It is at the hearing stage when a client’s case can often stand or fall. An ability to clearly communicate complex issues and robustly defend forensic findings is vital, he says.
“The counterparty’s lawyers will exploit any evidential weakness and so you have to demonstrate confidence via a written Report and in the way the facts are presented at the oral stage – from our perspective the only way to do this is to truly understand the underlying data.”
The relatively low leverage at Accuracy means that partners and senior consultants are always involved with the raw analysis, while the firm can also build industry-specific teams, he says. Major disputes virtually always now require industry – or jurisdiction – specific expertise.”
He sees a rise in disputes involving mid-size companies in the infrastructure and energy sectors – areas of focus in the Madrid office – related to loss of profits and unforeseen costs resulting from delayed or cancelled projects.
“Companies of all sizes have expanded abroad and participated in large tenders through consortiums. Disputes initially arise from the project complexity but are exacerbated by cultural issues, in the way the contract is managed and day-to-day problems are solved, particularly when a public authority is involved. Having seen greater demand to link the ‘delay analysis’ with the quantum analysis we have thus integrated both expertises within Accuracy.”