Compass Lexecon experts, Professor Pablo T. Spiller and Carla Chavich, were retained by DP World Djibouti FZCO and Doraleh Container Terminal SA (DCT) (Claimants) as damages experts in an arbitration in front of the London Court of International Arbitration. The LCIA proceeding is regarding the unlawful seizure of the container terminal.
Professor Spiller and Ms. Chavich quantified the losses incurred during the period until March 2021 in which Claimants have been (so far) deprived of their participation in the container terminal concession. Specifically, Professor Spiller and Ms. Chavich calculated the lost dividends and management fees that would have accrued to Claimants since the date of the seizure, along with the loss in cash balances that were seized with the terminal. The Tribunal fully accepted Professor Spiller and Ms. Chavich’s calculations of nominal losses and applied interest, awarding total damages of USD 200.8 million.
Compass Lexecon was previously retained in a related arbitration started by Djibouti (Claimant) with the purpose of rescinding the DCT concession in its entirety. In an Award dated February 2017, the Tribunal rejected Djibouti’s claims in the arbitration. In an Award dated March 2019, the Tribunal awarded damages of over USD 450 million based on the testimony of Professor Spiller for the two counter-claims brought by the DP World-led consortium pertaining to the breach of DCT’s exclusivity of container traffic in Djibouti and unpaid historical royalties for container traffic not transferred to DCT.
Professor Spiller and Carla Chavich were supported by a team led by Jack Ghaleb. Compass Lexecon worked with a Quinn Emanuel Urquhart & Sullivan, LLP team comprising Anthony Sinclair, Ted Greeno and Jagdish Menezes in London.