Damages in international arbitration for junior lawyers: everything you need to know in a nutshell

The SADRC mentoring series let by Mr Baiju Vasani welcomes Mr. Mrinal Jain on the topic of "Damages in international arbitration for junior lawyers: everything you need to know in a nutshell". 

Assessment of Damages, Claims and Losses (involving complex economic, financial and valuation issues) in Commercial, Contract, Joint Venture / Shareholder Disputes

1. Introduction on Damages
2. What is to be valued – the Company (Enterprise Value), the Equity, Control or Minority Interest?
3. Fair Market Value standard in commercial disputes and international arbitrations
4. Types of Damages / Claims / Losses emanating from Contractual Breaches, Wrongful Termination, Breach of Exclusivity or Non-Compete, Infringement of IP or Trademark, Joint Venture and Shareholder Disputes
5. Reliance damages (wasted costs) v. Expectation damages (loss of future profits) versus Disgorgement damages (respondent’s gains i.e. Account of Profits)
6. Application of Discounts and Premiums and issue of Minority Interest
7. Navigating the Legal Issues through an economic glass - the Date of Assessment, the Hindsight and the Golden Victory case, Causation and Mitigation
8. Key valuation approaches:
   1. Income approach – the Discounted Cash Flow method, the concept of time value of money and the WACC
   2. Market approach – the Market Price Method, Comparable Companies Multiples Method and Comparable Transactions Multiples Method  
   3. Cost approach – the Net Asset Value, the Reproduction Cost method and the Replacement Cost method
9. Build a robust, reliable and credible But-For (counter-factual) by minimizing remoteness, speculation, uncertainty?
10. Calculating Weighted Average Cost of Capital
11. Case Studies

About the speaker

Mrinal is a Managing Director and leads Secretariat International’s Economic Damages and Valuation Practice in India with the focus on quantification of damages, claims and losses involving complex economic, financial and valuation issues in international arbitration, litigation and investment treaty arbitration cases. He has provided expert evidence on complex financial, economic, valuation, and damages issues in over 25 matters (SIAC, ICC, LCIA, HKIAC, AIAC cases) and assisted clients in over 50 cases. 

He commenced his professional career with Ernst & Young in New York in 2007 and brings with him about 17 years of relevant experience. Mrinal is recognized as one of the leading expert witnesses in international arbitration by Who’s Who Legal’ s Arbitration 2019 to 2024 Lists and Thought Leader Arbitration Expert Witness 2021 to 2024. He is a Member of SIAC - Users Council and appointed on the Board of Society of Construction Law – India. He is a member of AIAC Academy, Tutors Panel and appointed on the Steering Committee of Africa Energy Arbitration Forum, LACIAC. 

He is appointed on the AFSA (Arbitration Foundation of South Africa) Panel of Experts and KIAC (Kigali International Arbitration Centre, Rwanda) Panel of International Arbitrators. He is also appointed as an Advisor to ENERAP (Energy Related Arbitration Practitioners) and Energy Disputes Arbitration Centre (EDAC), Turkey. He serves on the Advisory Board of C.O.R.D (Centre for Online Resolution of Disputes) and Centre for Arbitration and Research, Maharashtra National Law University in India. He was awarded with All India Economics Merit Certificate in 2001 post which he graduated in Economics Honors from St. Stephen’s College (Delhi) in 2004 and pursued his major in Finance from Fordham University in New York in 2007.