The Claimant was a publicly traded junior mining company that owned a development stage gold mine in a foreign jurisdiction. The Claimant alleged that its mining concessions were wrongfully terminated by the government of that jurisdiction.
Secretariat professionals were engaged by the Claimant to quantify the economic damages it allegedly sustained in connection with its ICSID claim against the government that terminated its mining concessions.
We prepared a valuation of the gold mine using the discounted cash flow method, based on a robust financial model that incorporated the forecasted revenues, costs and technical aspects of the mine, as well as the economics of the gold market at the valuation date. In addition, we considered various market-based valuation methods to test the reasonability of our conclusions under our primary valuation approach.
We also filed a report in connection with the jurisdictional hearing, whereby we analyzed the date at which the Claimant’s investment in the gold mine became substantially worthless, based on our detailed review and analysis of financial data and public disclosures. The Claimant was ultimately successful at its jurisdiction hearing.
We testified on valuation and economic damages issues at a hearing held at the World Bank in Washington, D.C.
Secretariat Secures No. 1 Spot on Lexology Index’s Arbitration 2025 Report
We are proud to announce that Secretariat has earned the position of No. 1, top-ranked Consulting Expert Firm in the Lexology Index Arbitration 2025 report. The report features firms and experts who have distinguished themselves as industry leaders based on their independence, sharp testifying skills, clear communications, and meticulous analytical insights.
Eric Poer, CPA, a globally recognized securities, accounting, valuation, and regulatory enforcement expert, was retained by Orrick, Herrington, and Sutcliffe LLP to provide expert and summary witness testimony in defense of Apple Inc., CEO Timothy Cook, and CFO Luca Maestri in a high-stakes securities class action dispute.
Neil Gaudion provided an expert report and testimony on behalf of Five Star Resort Owner, LLC, in construction dispute litigation surrounding a $2 billion Ritz-Carlton Hotel development. The jury awarded $2 million, plus interest, an amount determined from Mr. Gaudion’s testimony.