High Court Claim related to Oil & Gas Services Company
Our client was defending a multi-billion dollar High Court claim in relation to alleged breaches of a long-term logistics contract. FRA was engaged to provide expert witness support and evidence in relation to the calculation of potential damages associated with loss of profits.
Challenge
Our client was defending a multi-billion dollar High Court claim in relation to alleged breaches of a long-term logistics contract. FRA was engaged to provide expert witness support and evidence in relation to the calculation of potential damages associated with loss of profits. Central to our work was the critical assessment of the claimant’s damages model and the construction of an alternative model based on the legal arguments set out in the defence. We helped the client deal with a complex multi-year transactional data set and contractual obligations.
Action
We prepared a valuation model that transparently embedded the logic of the defence and evidence provided by an industry expert witness. Through careful design we were able to present a model which enabled the efficient modelling of a range of “but for” scenarios of theoretical performance of a variety of contractual obligations by the defendant. We also modified the claimant’s quantum model to demonstrate the effect of assumptions inherent in the same scenarios thus providing a set of comparable damages valuations.
Results
While the case is ongoing, our work supported legal counsel in reducing the size of the initial claim to less than 5% of its value. Further, the flexibility and clarity of our modelling has enabled counsel to identify the most material elements of the case and focus attention on them. Finally, our engagement with the expert instructed by the claimant has crystallized the quantum effects of the differences between the parties’ cases.
Arbitration involving Bribery and Corruption
FRA was engaged by an arbitration panel to act as an independent party, to identify any corruption red flags associated with royalty payments.
More info
ABB
In December 2022, the Switzerland-based multinational technology company reached a “full and final settlement” of $327 million with several national authorities. A multi-disciplinary, international team of FRA specialists supported the company through their cooperation with the authorities over more than three years, from investigation to settlement to compliance remediation.
More info
Petrofac
FRA was engaged by Petrofac and its external counsel to support the company’s plea discussions with the SFO, which had been investigating the company for several years in relation to bribery allegations contrary to the UK Bribery Act.
More info
Airbus
FRA advised Airbus and its counsel from the early stages in designing a robust and forensically based approach to the investigation, customising a data governance strategy alongside compliance risk assessment and remediation support, as well as the eventual fine calculation.
More info.webp)
NFT Marketplace Controls
As Head of Regulatory Affairs at a well-known gaming company, an FRA partner led the development of AML and Fraud controls to protect the company's Non-Fungible Token (NFT) Marketplace.
More info
International Arbitration Related to Commodity Trading
FRA was approached by the plaintiff in a $1.5bn claim in an international commercial arbitration to provide expert reports and witness testimony that proved in the arbitration finding for the plaintiff.
More info.jpg)
APT Group Cryptocurrency Money Laundering
Reacting to cyber attacks by an Advanced Persistent Threat (APT) group on critical US infrastructure, an FRA Director conducted thorough and sophisticated cryptocurrency asset tracing to identify and disrupt the group's activities.
More info
European Bank
A European bank approached FRA to perform an initial evaluation of its exposure related to customers allegedly involved in money laundering activities. This was of concern to the client given the potential regulatory, financial and reputational implications for the bank.
More info
Expert Determination in an M&A Dispute
FRA was retained by a global chemicals company to represent them in post-closing purchase price adjustment dispute in connection with a $1.1 billion Stock and Asset Purchase Agreement. The submissions prepared and supported by FRA’s analysis resulted in a favorable determination for our client.
More info
Nordic Telecommunications Company
FRA was instructed by Telia Company (market cap: over $17 billion) and its counsel in the UK, US, the Nordics and Holland to provide forensic accounting and eDiscovery consulting services in the investigation of the Scandinavian telecoms company.
More info.jpg)
Cryptocurrency Terrorism Financing
An FRA expert provided critical support to the FBI's Counterterrorism Division, in connection with a multi-agency task force uncovering cryptocurrency terrorist financing. Their efforts led to the most significant US seizure of cryptocurrency to date.
More info
Expert Witness to the Quebec Superior Court
FRA provided pro-bono support to a Canadian individual who brought a case to the Quebec Superior Court to challenge the Canadian Criminal Code law that allows police officers to make traffic stops without suspecting any offence being committed.
More info
Cryptocurrency Exchange Collapse Due to Fraud
FRA was retained by external Counsel to represent multiple clients under investigation by the Southern District of New York (SDNY) in connection with the downfall of a prominent cryptocurrency exchange.
More info.webp)
Responding to a Data Subject Access Request (DSAR)
FRA supported a client's response to an ex-employee's Data Subject Access Request (DSAR) with a limited time period to respond. FRA applied a DSAR solution to gain a holistic view of more than 900,000 documents, eliminate redundancies; redact confidential information, and deliver a complete and structured response.
More info
International Not-for-Profit Organization
FRA was approached to provide pro bono support to a not-for-profit organization that had identified potential anomalies in its accounting and banking records.
More info
Middle-East Telecommunications Company
FRA was retained to support one of the world’s largest mobile telecommunications companies in an internal investigation which required an eDiscovery review in the context of alleged compliance violations.
More info
Multinational Oil and Gas Extraction Company
FRA was retained by counsel to assist a client performing a due diligence exercise in connection with purchasing an oil and gas producer in West Africa.
More info.webp)
Illicit Online Marketplace
An FRA Director led an investigation into a nefarious online marketplace, applying complex data analysis resulting in the arrest of numerous cybercriminals selling illicit goods and services.
More info
International Event and Talent Management Company
An employee of an international talent agency left the company and took with them several high-profile clients to a direct competitor.
More info
Deminor Recovery Services/Olympus
Olympus, a Japan-based manufacturer of cameras and medical equipment, was found to have hidden $1.7 billion worth of losses since the early 1990s.
More info.webp)
Cryptocurrency Exchange Collusion
When a new cryptocurrency experienced sudden delisting from multiple exchanges, their Counsel urgently engaged an FRA partner to help investigate potential antitrust or collusive behavior.
More info
Bank Leumi
FRA was engaged to support the monitorship of an Israeli bank and its subsidiaries, who between 2000 and 2011 were found to have wilfully assisted US clients in opening and maintaining undeclared accounts in a foreign country, and concealing offshore assets and income from authorities.
More info
Multinational Insurance Firm
FRA was retained by a major European-headquartered insurer (market cap: over $60 billion) involved in a legal dispute with a US client. The US-based litigation required a potentially wide-ranging and costly eDiscovery exercise.
More info
Multinational Transport Engineering Company
FRA was retained by US counsel to Alstom (market cap: over $10 billion) to assist with defending a US securities class action suit. The case involved allegations around export credit financing of a division that Alstom had sold to a third party.
More info
Class-action Lawsuit challenging Solitary Confinement in US Prisons
FRA was approached by our client, White & Case, to provide pro bono support to the ACLU in their federal class-action lawsuit seeking to end solitary confinement in two Virginia prisons.
More info
Holocaust Restitution Claims Administration
FRA was retained separately by Swiss and German authorities to build claims administration systems for hundreds of thousands of holocaust survivors, facilitating the disbursement of hundreds of millions of dollars over five years. These were among firm's first engagements after our founding at the turn of the century.
More info
