Bilateral Investment Treaty
Questa was engaged by an international law firm to act on behalf of a claimant, as an independent financial expert witness in a Bilateral Investment Treaty dispute between a US based investment fund and the Republic of Poland. The claimant asserted that as a result of certain actions by the respondent, the claimant was unable to realise the value of debts owed to the claimant. The claimant sought relief for the losses caused by the actions of the respondent.
- In-depth understanding of the real estate sector
- Estimation of the value of real estate
- Documentation review
Scope of work:
This complex case required a deep understanding of both the real estate sector and the bankruptcy proceedings in Poland. Arising from the actions of the respondent, debts owed to the claimant by a bankrupt third-party real estate developer, could not be recovered as part of liquidation proceedings, despite holding first ranking mortgages over the real estate owned by the third-party developer. The case required an assessment of the value of the real estate, examining the disposal of assets at various stages during the liquidation proceedings and examination of extensive documentation retained by the liquidator.
- Questa expert conclusions
- Presentation of scenarios
- Decision in favor of the plaintiff
Result:
The Questa expert concluded that the proceeds received for assets during the liquidation proceedings, which were fully secured by first ranking mortgages held by the claimant, were more than sufficient to cover the debts of the claimant. The expert report also presented various scenarios which demonstrated to the tribunal that even if certain assets had been excluded from the liquidation process, there would have still been sufficient liquidation funds to repay most of the debts owed to the claimant.
Damages were assessed to be in excess of USD 14 million. The tribunal filed in favour of the claimant.
