Event report
foreign investments, a number
of participants shared the view
that many of the chairs of such
tribunals have little experience
in valuation. Attendees argued
that the ideal tribunal would be
made up of people with a good
legal background, as well as an
Nigel Blackaby
Freshfields Bruckhaus Deringer
understanding of economics, in
addition to having experience in
accountancy and valuation. One
solution suggested was having one
panel making the legal decisions
on liability and causation, and
another panel of experts focusing
on valuation. But it was argued
that the determining of values is
also a complex issue, given that
there is such a vast range. By way
of a short-term fix, it was proposed
that the best way to proceed in the
current climate is to ensure that
tribunals engage with experts in
valuation from the outset.
It was also recommended that
an independent expert should be
appointed to each case to explain
issues to a tribunal. The hope is
such an expert could specialise in
financial matters and be consulted
with a view to providing an
explanation of complex cases as
well as being tasked with asking
questions during the process to
improve the level of debate.
Event: Iberian Lawyer Masterclass:
Investment Arbitration: sailing against
the wind?
Location: Washington DC, USA
www.iberianlawyer.com
September / October 2016 • IBERIAN LAWYER • 13