Are you involved in arbitration proceedings? Are you struggling with calculating damages? Do you find the other party’s claim exaggerated? Do you need an expert witness on economics to support you in an ongoing litigation? Do you need to review all relevant documents, perform a valuation and be provided with one final figure?
My company builds solar power plants – a business area subject to regulations and political changes. Last year, we concluded a contract on constructing a power plant with a partner company. Three months after signing the contract, while the construction was already in progress, the government passed a new law which set additional requirements on power plant construction and required a part of the plant to be replaced. Based on the concluded contract, we insisted that it was our project partner’s responsibility to replace the relevant parts. They disagreed and refused to replace the parts at their own expense. We ended up replacing the construction parts ourselves, resulting in extra costs and a delay in connecting to the grid. Significant profits which could have been generated from energy sales were lost. We needed an expert in calculating damages, somebody with local knowledge and experience in the energy field. PwC processed hundreds of our construction documents and invoices, researched the solar market, spoke with our management, reviewed past financial statements and evaluated the actual damages as well as the lost profits. We now have a detailed damages calculation report in hand that justifies every single figure and a reputable expert witness ready to assist at the hearing – we feel much more optimistic about winning this case.