In a recent chapter included in the fifth edition of Global Arbitration Review’s Damages in International Arbitrations Guide, Brattle Principals Darrell Chodorow and Dr. Florin Dorobantu and Associate Dr. Fernando Bañez discuss the landscape for disputes across extraction project life cycles, from prospecting to closure. They present industry-specific characteristics common to many mining and oil and gas disputes, and examine different valuation methods that may be applied to assess project value or damages across a variety of different commodities and project stages.

The full chapter, “Quantum in Oil and Gas and Mining Disputes,” is available below.

View Book Chapter

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The winners of the 2022 Brattle Group Prize in Corporate Finance are:

First Prize, $25,000: Andreas Fuster, Paul Goldsmith-Pinkham, Tarun Ramadorai, and Ansgar Walther
Predictably Unequal? The Effects of Machine Learning on Credit Markets
The Journal of Finance, February 2022

Distinguished Paper, $10,000: Asaf Bernstein
Negative Home Equity and Household Labor Supply
The Journal of Finance, December 2021

Distinguished Paper, $10,000: Isaac Hacamo and Kristoph Kleiner
Forced Entrepreneurs
The Journal of Finance, February 2022

The Brattle Group has funded this annual award for more than 20 years. These prizes are presented at the AFA’s annual meeting, and this year’s awards were announced at the AFA’s Annual Meeting 2023, which took place January 6–8 in New Orleans, LA. All papers published in issues of The Journal of Finance from the first five issues of the given year, and December of the previous year, are eligible. We congratulate the winners on their achievements!

View a complete list of past winners

More about the AFA

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“Marco is a leading authority on the economics of infrastructure, transportation, regulation, and competition,” said Brattle Principal Francesco Lo Passo. “His academic expertise and experience as an advisor will make him a valuable asset to Brattle and our clients, in Europe and globally.”

An expert in transport and infrastructure economics as well as regulatory disputes, Dr. Percoco holds several academic appointments and is the founding director of Bocconi’s GREEN research center, which focuses on economic research related to geography, resources, the environment, energy, and networks. He is a former economic advisor to the office of the Italian Prime Minister as well as to several Italian ministries, the United Nations, the World Health Organization, the Organisation for Economic Cooperation and Development (OECD), the World Bank, the Inter-American Development Bank (IADB), and the European Investment Bank (EIB).

Dr. Percoco’s consulting experience includes working on various regulatory and competition matters across Europe, particularly in the energy, transport, infrastructure, and real estate sectors. He has provided expert opinions regarding concessions, regulation, and antitrust issues in both civil and administrative tribunals. He frequently consults on matters related to infrastructure valuation and regulation.

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Principal Dr. Serena Hesmondhalgh and Associate Flora Triolo held two sessions; one to explain how gas markets work, and a second to go over a case study on gas markets.

Learn more

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Take-or-pay (ToP) provisions, often used in long-term offtake and supply agreements, provide that buyers must pay for specified quantities of a good or service from a seller, even if the buyer does not need or is not willing to take those full quantities. In the article, the authors outline the defining characteristics of ToP provisions, the projects they are applied to, and the circumstances in which the utilization of such provisions is not appropriate.

The full article is available on the Oil, Gas & Energy Law website with a subscription.

The post Characteristics of Take-or-Pay Clauses and Circumstances for Use: Dr. Guillermo Sabbioni Discusses in Recent <i>Oil, Gas & Energy Law</i> Article appeared first on Brattle.

The episode features an interview with Steve Thumb, an oil and gas market expert who previously was in charge of forecasting at Energy Ventures Analysis, and draws from content in an accompanying Brattle presentation, “Impact of Russia/Ukraine War on World Natural Gas US & Oil Markets.”

The Brattle experts and Thumb discuss how the world’s oil and natural gas supplies may be disrupted by the conflict in Ukraine, providing context for the current price spikes, and explore the short and long-run implications for the US, the European Union, and Russia.

The Alternative Power Plays podcast series – co-produced by Buchanan Ingersoll & Rooney and Brattle ­– typically focuses on the benefits and deployment of Combined Heat and Power (CHP). It features interviews with industry leaders in the CHP space and addresses the new ways companies are getting electricity and thermal energy to their facilities using CHP technology.

Parts 1 and 2 of the episode are available here and here, and the accompanying presentation is available here.

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“Toby is a welcome addition to Brattle’s Electricity group and our firm more broadly,” said Brattle President & Principal David L. Sunding. “With his regulatory expertise and breadth of experience working with electric and natural gas utilities, he will add depth to our firm and be a vital asset to clients.”

Mr. Bishop’s expertise extends to strategic, regulatory, financial, and transactional matters for electric and natural gas utilities, natural gas pipelines and storage developers, and independent energy project developers. He has worked on federal and state rate case proceedings, valuations for ad valorem tax disputes, utility municipalization efforts, contractual disputes, purchase and sales transactions, regulatory strategy and policy matters, and competitive and market power concerns.

He has provided expert testimony and other filings in over 50 administrative and civil proceedings in the US and Canada, including before the Federal Energy Regulatory Commission (FERC), the Canada Energy Regulator (CER), and state and provincial regulatory agencies.

“I am thrilled to join the respected team of economists at The Brattle Group, especially during this pivotal time for the energy industry,” Mr. Bishop said. “I look forward to helping the firm continue its success and collaborating on regulatory economics and finance matters.”

Previously, Mr. Bishop was a Senior Vice President at an economic consultancy, and he also held positions at two management consultancies.

To learn more about Mr. Bishop, please see his full bio.

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“These talented individuals provide in-depth expertise to a vast array of clients on matters related to financial services, energy, tax, and more,” shared Brattle President & Principal David Sunding. “In addition, they have made exemplary contributions to mentoring and developing their colleagues, and truly demonstrate the exceptional leadership pipeline we are fortunate to have at the firm.”

Our new Principals:

• Hollie Mason | Practice Leader: Broker-Dealers & Financial Services | Chicago
  An attorney with more than 15 years of experience in the financial industry, Ms. Mason provides expert testimony and consulting services concerning securities litigation and enforcement matters. She has deep knowledge of Financial Industry Regulatory Authority (FINRA) and Securities & Exchange Commission (SEC) rules.
• David McKnight | New York
  Mr. McKnight has over 20 years of experience providing expert testimony and consulting services in matters pertaining to mass torts, securities, finance, valuation, and bankruptcy. In mass tort matters, he has worked with liability forecasts, insurance coverage, and discounted cash flows.
• Albert Metz | New York
  Dr. Metz is a securities and finance expert with deep experience in credit analysis, financial modeling, asset pricing, market efficiency, and event studies. He has consulted on asset pricing, antitrust, mergers and acquisitions, market manipulation, collusion, fixed income securities, and various debt derivatives.
• Christine Polek | Boston
  Ms. Polek serves as a consulting and testifying expert in complex litigation requiring the application of economic, financial, and statistical analysis to legal and regulatory issues – with a focus on valuation, tax controversy, and labor and employment.
• Akarsh Sheilendranath | Boston
  Mr. Sheilendranath is an energy economist with a unique blend of expertise in wholesale electricity markets, electric transmission, and regulatory corporate finance. He specializes in transmission policy, utility investment strategy and planning, large-scale renewable integration, and cost-benefit assessments.
• Anul Thapa | Boston
  Mr. Thapa has over 12 years of experience applying economic and finance principles in complex oil and gas-related litigation, arbitration, and regulatory proceedings. His experience in commercial disputes includes damages estimation, valuation, and pricing related to energy assets and contracts.
• Mike Tolleth | New York
  Mr. Tolleth specializes in the economic analysis of energy markets, with expertise in financial modeling and valuation of energy assets, contracts, and businesses. He supports clients in litigation and arbitration matters and provides expert testimony related to cost of service, rate design, cost of capital, regulatory policy, long-run marginal cost pricing, and market power.

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