Under the rules of arbitration of the International Chamber of Commerce in Vienna.
The business and background
The Claimant, a private equity fund from Belgium, alleged the loss of value of its acquired shares in a Polish producer of specialized construction glass resulting from the breach of selected representations and warranties from the SPA by the Respondents (Polish founders and mezzanine fund from Luxembourg). These were pertaining to the target’s technology and financial reporting. In turn, the Respondents filed a counterclaim related to the earn-out which identified several issues in the Claimant’s determination of EBITDA underlying the earn-out.
What we did
We were instructed by the Respondents to prepare an expert report on selected disputed items in the counterclaimed earn-out amount, including the accounting for warranty claims. We provided oral testimony during an arbitral hearing.