Arbitration in Robert and Michael Touisse v. Coastal Development and Michael Fields

Compass Lexecon expert Michael Kwak was retained by counsel for Claimants in a New York State Arbitration to assess economic damages from past and future principal and interest payments related to a stream of payments due under a note issued by the Seminole Tribe of Florida. The payments were collateralized by casino gaming revenue and guaranteed by the Seminole Tribe of Florida. In estimating damages, Mr. Kwak provided opinions regarding the level of collateralization securing the note payments and the appropriate risk-adjusted discount rate applicable to the cash flows. The arbitrator, Justice Milonas, explicitly credited Mr. Kwak’s testimony in awarding Claimants the maximum damages presented by Mr. Kwak in his testimony. The New York Supreme Court recently confirmed the award. We worked with David Forkner and Jonathan Pahl of Williams & Connolly LLP.