Disputes

Tim has testified in hearings and trials; submitted expert testimony; or served as an arbitrator on issues primarily related to accounting, damages, economics, finance, fraud/corruption, and valuation in the following matters.

International Disputes Testimony

International Investor-State Arbitrations

• Misen Enterprises AB v. Ukraine; Expropriation; ICSID Case No. ARB/21/15. Filed expert report on damages and other financial issues in March 2025. Dispute involving a natural gas. (Engaged by respondent; parties from Sweden & Ukraine)
• FCL Ambiente v. North Macedonia; Expropriation; ICSID Case No. ARBARN/23/31. Filed expert report on damages in December 2024. Dispute involving a landfill and waste-to-energy project. (Engaged by respondent; parties from Italy & North Macedonia)
• Enel, S.p.A. v. Republic of Türkiye; Expropriation; ICSID Case No. ARB/21/61. Testified in London in December 2024. Filed expert reports on damages in September 2024 and October 2023. Dispute involving a solar generation project. (Engaged by respondent; parties from Italy & Türkiye)
• Mohammad Reza Dayyani, Abbas Dayyani, Mohammad Hossein Dayyani, Ali Dayyani, Fatemah Dayyani, Kosar Dayyani Republic of Korea; Nonpayment of debt; PCA Case No. 2022-12. Testified in The Hague in October 2024. Filed expert reports on damages in August 2024 and September 2023. Dispute involving payment of an arbitration debt. (Engaged by respondent; parties from Iran & Korea)
• Riverside Coffee, LLC v. Republic of Nicaragua; Expropriation; ICSID Case No. ARB/21/16. Testified in Washington in July 2024. Filed expert reports on damages in March 2024 and March 2023. Dispute involving an avocado farm. (Engaged by respondent; parties from United States & Nicaragua)
• Webuild SPA v. Republic of Panama; Expropriation; ICSID Case No. ARB/20/10. Filed expert reports on damages in July 2024 and November 2021. Dispute involving the expansion of the Panama Canal. (Engaged by claimant; parties from Italy & Panama)
• Alamos Gold Holdings Coöperatief U.A. and Alamos Gold Holdings B.V. v. Republic of Türkiye; Expropriation; ICSID Case No. ARB/21/33. Filed expert reports on damages in June 2024 and June 2023. Dispute involving gold mining projects. (Engaged by respondent; parties from Canada and Türkiye)
• Espíritu Santo Holdings, LP v. United Mexican States; Expropriation; ICSID Case No. ARB/20/13. Testified in Washington in April 2024. Filed an expert report on damages in March 2023 and May 2022. Dispute involving the installation and operation of taxi meters and a mobile taxi application in Mexico City. (Engaged by respondent; parties from Canada & Mexico)
• Qiong Ye and Jianping Yang v. Kingdom of Cambodia; Expropriation; ICSID Case No. ARB/21/42. Testified in Singapore in February 2024. Filed expert reports on damages and other financial issues in December 2023 and March 2023. Dispute involving a telecommunications business in Cambodia. (Engaged by respondent; parties from China & Cambodia)
• APG SGA SA and D.O.O Za Promet I Usluge Alma Quattro Beograd v. Republic of Serbia; Fair and Equitable Treatment and Expropriation; ICSID Case No. ARB/21/13. Testified in Paris in November 2023. Filed expert reports on damages in August 2023 and November 2022. Dispute involving an outdoor advertising business in Belgrade. (Engaged by respondent; parties from Switzerland & Serbia)
• Bursel Tekstil Sanayi Ve Diş Ticaret A.Ş. and Others v. Republic of Uzbekistan; Expropriation; ICSID Case No. ARB/17/24. Testified in Washington in October 2023. Filed expert reports related to financial issues and damages in December 2021 and November 2020. Dispute involving textile factories in Uzbekistan. (Engaged by respondent; parties from Turkey & Uzbekistan)
• Legacy Vulcan, LLC v. United Mexican States; Expropriation; ICSID Case No. ARB/19/1. Testified in virtual hearings in August 2023 and July 2021. Filed expert reports on damages in April 2023, December 2022, May 2021, and November 2020. Dispute involving a limestone quarry. (Engaged by respondent; parties from United States & Mexico)
• Quanta Services Netherlands B.V. v. Republic of Peru; Expropriation and Fair and Equitable Treatment; ICSID Case No. ARB/21/1. Testified in Washington in June 2023. Filed expert reports on damages in November 2022 and April 2022. Dispute involving the construction and operation of broadband networks in rural regions of Peru. (Engaged by respondent; parties from Netherlands & Peru)
• The Estate of Mr. Blažo Tasev (formerly Mr. Blažo Tasev) v. Republic of North Macedonia; Expropriation; PCA Case No. 2019-09. Testified in The Hague in October 2022. Filed expert reports on damages in July 2022, May 2022, and February 2021. Dispute involving a lead, zinc and silver mine. (Engaged by respondent; parties from Slovenia & North Macedonia)
• Sacyr S.A. v. Republic of Panama; Fair and Equitable Treatment and Full Protection and Security; ICSID Case No. UNCT/18/6. Filed an expert report on damages in September 2022. Dispute involving the expansion of the Panama Canal. (Engaged by claimant; parties from Spain & Panama)
• JSC Tashkent Mechanical Plant, JSC National Bank for Foreign Economic Activity of the Republic of Uzbekistan, JSC Asakabank, and JSCB Uzbek Industrial and Construction Bank v. The Kyrgyz Republic; Expropriation; ICSID Case No. ARB(AF)/16/4. Filed an expert report on damages in September 2022. Dispute involving four resorts. (Engaged by claimants; parties from Uzbekistan & The Kyrgyz Republic)
• ITOCHU Corporation v. Kingdom of Spain; Fair and Equitable Treatment; ICSID Case No. ARB/18/25. Testified in a virtual hearing in January 2021. Filed expert reports on damages in September 2020 and November 2019. Dispute involving solar generation. (Engaged by respondent; parties from Japan & Spain)
• Emergofin B.V. and Velbay Holdings Ltd. v. Ukraine; Expropriation; ICSID Case No. ARB/16/35. Testified in a virtual hearing in November 2020. Filed expert reports on damages in September 2019 and March 2018. Dispute involving aluminum production. (Engaged by claimants; parties from Netherlands, Cyprus & Ukraine)
• Invenergy Renewables LLC and Others v. Republic of Poland; Fair and Equitable Treatment and Expropriation; PCA Case No. 2018-40. Testified in a virtual hearing in September 2020. Filed an expert report on damages in July 2020 and September 2019. Dispute involving wind generation. (Engaged by respondent; parties from United States & Poland)
• Kingsgate Consolidated Ltd. and Kingsgate Capital Pty Ltd. v. Kingdom of Thailand; Expropriation; PCA Case No. 2017-36. Testified in person in Singapore in February 2020 and via video in Singapore in February 2019. Filed expert reports on damages in October 2019 and January 2019. Dispute involving a gold mine. (Engaged by respondent; parties from Australia & Thailand)
• Infinito Gold Ltd. v. Republic of Costa Rica; Expropriation; ICSID Case No. ARB/14/5. Testified in Washington, DC, in July 2019. Filed expert reports on damages in May 2019 and July 2018. Dispute involving an exploration/development stage gold mining project. (Engaged by respondent; parties from Canada & Costa Rica)
• Cunico Resources N.V. v. Republic of North Macedonia; Expropriation; ICSID Case No. ARB/17/46. Filed expert report related to financial issues and damages in April 2019. Dispute involving a ferronickel producer in North Macedonia. Case was discontinued after first report. (Engaged by respondent; parties from Netherlands & North Macedonia)
• Vladislav Kim and Others v. Republic of Uzbekistan; Expropriation; ICSID Case No. ARB/13/6. Testified in Washington, DC, in July 2015. Filed expert reports related to financial issues and damages in March 2019, October 2018, and September 2017. Filed expert reports on financial issues in March 2015 and August 2014 related to a jurisdictional filing. Dispute involving two cement plants in Uzbekistan. Case settled in 2021. (Engaged by respondent; parties from Kazakhstan & Uzbekistan)
• Slot Group a.s. v. Republic of Poland; Expropriation; PCA Case No. 2017-10. Testified in The Hague in October 2018. Filed expert report on damages in November 2017. Dispute involving the gambling industry in Poland. (Engaged by respondent; parties from Czech Republic & Poland)
• Michael Ballantine and Lisa Ballantine v. Dominican Republic; Expropriation; UNCITRAL and DR-CAFTA. Testified in Washington, DC, in September 2018. Filed expert reports on damages in March 2018 and May 2017. Dispute involving real estate with a resort development. (Engaged by respondent; parties from United States & Dominican Republic)
• Louis Dreyfus Amateurs SAS v. Republic of India; Expropriation; UNCITRAL PCA Case No. 2014-26. Testified in London in December 2017. Filed expert reports on damages in August 2017 and October 2016. Dispute involving an investment in a port in India. (Engaged by respondent; parties from France & India)
• Güneş Tekstil Konfeksiyon Sanayi ve Ticaret Ltd. Şirketi, Vahit Güneş, Reşat Güneş, Fikret Güneş, Ibrahim Eksilmez, and Yücel Yildiz v. Republic of Uzbekistan; Expropriation; ICSID Case No. ARB/13/19. Testified in Paris in November 2017. Filed expert reports on financial issues and damages in August 2017 and 2016. Dispute involving real estate, retail and wholesale trade, and light manufacturing in Uzbekistan. (Engaged by respondent; parties from Turkey & Uzbekistan)
• B3 Croatian Courier Coöperatief U.A. v. Republic of Croatia; Expropriation; ICSID Case No. ARB/15/5. Testified in Paris in March 2017. Filed expert reports on damages in January 2017 and May 2016. Dispute involving the postal industry in Croatia. (Engaged by respondent; parties from Netherlands & Croatia)
• David R. Aven, et al. v. Republic of Costa Rica; Expropriation; UNCITRAL PCA Case No. UNCT/15/3. Testified in Washington, DC, in February 2017. Filed expert reports on damages in October 2016 and April 2016. Dispute involving an investment in a planned real estate resort development in Costa Rica. (Engaged by respondent; parties from United States & Costa Rica)
• Horthel Systems B.V., Tesa Beheer B.V and Poland Gaming Holding B.V. v. Republic of Poland; Expropriation; UNCITRAL PCA Case No. 2014-31. Testified in The Hague in June 2016. Filed expert reports on damages in October 2016, September 2016, April 2016, and September 2015. Dispute involving the gambling industry in Poland. (Engaged by respondent; parties from Netherlands & Poland)
• Valores Mundiales, S.L. Consorcio Andino, S.L. v. Bolivarian Republic of Venezuela; Expropriation; ICSID Case No. ARB/13/11. Testified in Washington, DC, in February 2016. Filed joint expert reports on damages in October 2015 and March 2015. Dispute involving grain milling and distribution in Venezuela. (Engaged by respondent; parties from Spain & Venezuela)
• Spentex Netherlands, B.V. v. Republic of Uzbekistan; Expropriation; ICSID Case No. ARB/13/26. Testified in Washington, DC, in September 2015. Filed expert reports on financial issues, including bribery/corruption and damages, in August 2015 and December 2014. Dispute involving textile factories in Uzbekistan. Case dismissed on jurisdiction due to a finding of bribery. (Engaged by respondent; parties from Netherlands & Uzbekistan)
• Cem Cengiz Uzan v. Republic of Turkey; Expropriation; SCC Case No. V 2014/023. Filed expert report on financial issues in June 2015 in the jurisdictional phase. Dispute involving two electric generation, transmission, and distribution companies in Turkey. Jurisdiction was denied. (Engaged by respondent; parties from England & Turkey)
• Tenaris S.A. and Talta – Trading e Marketing Sociedade Unipessoal Lda. v. Bolivarian Republic of Venezuela; Expropriation; ICSID Case No. ARB/12/23. Testified in Washington, DC, in June 2015. Filed expert reports on damages in April 2015 and October 2014. Dispute involving the valuation of a steel tube factory and a minority investment in a hot briquetted iron plant in Venezuela. (Engaged by respondent; parties from Luxembourg, Portugal & Venezuela)
• Crystallex International Corporation v. Bolivarian Republic of Venezuela; Expropriation; ICSID Case No. ARB/11/2. Testified in Paris in November 2014 and in Washington, DC, in February 2014. Filed expert reports on damages in October 2014, September 2013, and November 2012. Dispute involving the valuation of an investment in a gold mining concession in Venezuela. The award was for $1.2B of the $3.1B claimed. (Engaged by respondent; parties from Canada & Venezuela)
• Oxus Gold plc v. Republic of Uzbekistan; Expropriation; UNCITRAL Arbitration. Testified in Paris in May 2014. Filed expert reports on damages in July 2014, February 2014, and February 2013. Dispute involving the valuation of investments in gold and other mineral mining interests in Uzbekistan. The award was for the exact amount presented by Hart, which was less than 1% of the $1.3B claim. (Engaged by respondent; parties from England & Uzbekistan)
• Tenaris S.A. and Talta – Trading e Marketing Sociedade Unipessoal Lda. v. Bolivarian Republic of Venezuela; Expropriation; ICSID Case No. ARB/11/26. Testified in Washington, DC, in February 2014. Filed expert reports on damages in December 2013 and May 2013. Dispute involving the valuation of a hot briquetted iron plant in Venezuela. The award was for $87M of the $324M claimed. (Engaged by respondent; parties from Luxembourg, Portugal & Venezuela)
• Supervisión y Control S.A. v. Republic of Costa Rica; Breach of Contract; ICSID Case No. ARB/12/4. Testified in Washington, DC, in January 2014. Filed expert reports on damages in January 2013 and September 2013. Dispute involving the tariffs for the national vehicle inspection services concession in Costa Rica. (Engaged by respondent; parties from Spain & Costa Rica)
• Franck Charles Arif v. Republic of Moldova; Expropriation; ICSID Case No. ARB/11/23. Testified in Paris in November 2012. Filed expert reports on damages in October 2012 and May 2012. Dispute involving the investment in duty-free shops at an airport in Moldova and on the Moldovan/Romanian border. Damages of less than 3% of the claim were awarded based on invested costs. (Engaged by respondent; parties from France & Moldova)
• Highbury International AVV and Ramstein Trading Inc. v. Bolivarian Republic of Venezuela; Expropriation; ICSID Case No. ARB/11/1. Testified in Washington, DC, in August 2012. Filed expert reports on damages in May 2012 and December 2011. Dispute involving the valuation of an investment in gold and diamond mining concessions in Venezuela. Tribunal found no jurisdiction after hearing on the merits. (Engaged by respondent; parties from Netherlands & Venezuela)
• Merck Sharpe & Dohme (I.A.) Corporation v. Republic of Ecuador; Denial of Justice; UNCITRAL Case No. 2012-10. Filed expert reports regarding the financial condition of claimant in July 2012 and August 2012. Dispute involving a request for interim measures involving a $150M judgment in Ecuador. Interim measures were denied. (Engaged by respondent; parties from United States & Ecuador)
• S&T Oil Equipment & Machinery Ltd. v. Government of Romania; Expropriation; ICSID Case No. ARB/07/13. Filed expert reports on damages in July 2009 and December 2008. Dispute involving the privatization of an ammonia plant in Romania. Matter discontinued due to claimant’s lack of payment. (Engaged by respondent; parties from United States & Romania)
• Vannessa Ventures Ltd. v. Bolivarian Republic of Venezuela; Expropriation; ICSID Case No. ARB(AF)/04/6. Filed expert reports on damages in January 2010 and March 2009. Dispute involving the valuation of a gold mine in Venezuela. The final award found no liability. (Engaged by respondent; parties from Canada & Venezuela)
• Noble Ventures v. Government of Romania; Expropriation; ICSID Case No. ARB/01/11. Filed expert reports in January 2024 and August 2004. Dispute involving the privatization of a steel company and electric generation assets in Romania. The tribunal returned a decision awarding no damages to claimant. (Engaged by respondent; parties from United States & Romania)
• GAMI Investments, Inc. v. Government of the United Mexican States; Expropriation; NAFTA. Filed expert reports in February 2004 and February 2003. Matter involving the valuation of the investment in five sugar mills and the damages related to an expropriation in Mexico. The mills were returned to claimant just prior to the hearings. (Engaged by claimant; parties from United States & Mexico)
• Ceskoslovenska Obchodni Banka (CSOB) v. Slovak Republic; Breach of Contract; ICSID Case No. ARB/97/4. Testified in April 2003 in Prague. Filed expert reports in August 2001 and November 1999. Dispute involving the monies owed related to the obligations of the Slovak Republic related to the debt of the foreign trade bank of the former Czechoslovakia. Award for claimant of $877M. (Engaged by claimant; parties from Czech Republic & Slovak Republic)
• Americas and Caribbean Power Ltd. v. Cooperative Republic of Guyana; Investment Dispute; Private arbitration. Served as the chair of the panel of arbitrators in March 2003 related to a dispute over tariffs and the required capital investments. (Engaged as the chair of the panel; parties from United States & Guyana)

Commercial Contract Arbitrations

• Grupo Unidos por el Canal, S.A., Sacyr S.A., Salini-Impregilo S.p.A, and Jan de Nul N.V. v. Autoridad del Canal de Panama; Breach of Contract; ICC Case No. 22466/ASM/JPA (C-22967/ASM). Filed expert reports regarding damages in July 2024, October 2021, and January 2020. Dispute involving the remaining cost overruns in the expansion of the Panama Canal. (Engaged by claimants; parties from Belgium, Italy, Spain & Panama)
• Oando Oil Limited v. Nigerian Agip Oil Company Limited; Breach of Contract; Nigerian ad hoc arbitration. Testified in London in January 2023 in the merits hearing and in a virtual hearing on interim measures in February 2022. Filed expert reports on damages in December 2022, November 2022, and January 2022 and in interim measures proceeding regarding the financial and audit issues in January 2022 and October 2021 involving an oil and gas exploration and production joint venture in Nigeria. (Engaged by respondent; parties from Nigeria)
• Confidential: Construction Management Company v. Coworking Space Provider; Breach of Contract; AAA ICDR Case No. 01-20-0015-1538. Filed expert reports on damages and other financial issues in September 2022, July 2022, June 2022, and June 2021. Dispute involving the acquisition of a Latin American construction management company. (Engaged by respondent; parties from Argentina & United States)
• ASG Ghana Limited v. Electricity Company of Ghana Ltd.; Breach of Contract; UNCITRAL ad hoc arbitration. Testified in London in July 2022. Filed expert reports on damages in May 2022 and August 2021. Dispute involving an electric power project. (Engaged by respondent; parties from Ghana)
• Grupo Unidos por el Canal, S.A., Sacyr S.A., Salini-Impregilo S.p.A, and Jan de Nul N.V. v. Autoridad del Canal de Panama; Breach of Contract; ICC Case No. 22465/ASM/JPA (C-22966/ASM). Testified in Paris in April 2022. Filed expert reports regarding damages in March 2022, July 2021, and March 2020. Dispute related to the lock gates and labor escalation cost overruns during the expansion of the Panama Canal. (Engaged by claimants; parties from Belgium, Italy, Spain & Panama)
• Emrock Aggregate & Mining LLC and SFOH Ltd. v. Oman Mining Company LLC; Expropriation; Ad Hoc Arbitration Under the Omani Law of Arbitration. Testified in London in March 2019. Filed expert reports on damages in July 2019, May 2019, November 2018, and September 2018. Dispute involving a limestone quarry in Oman. (Engaged by respondent; parties from United Arab Emirates & Oman)
• Grupo Unidos por el Canal, S.A., Sacyr S.A., Salini-Impregilo S.p.A, and Jan de Nul N.V. v. Autoridad del Canal de Panama; Breach of Contract; ICC Case No. 20910/ASM/JPA (C-20911/ASM). Testified in Miami in February 2019. Filed expert reports regarding damages in June 2018 and 2017, confidentiality order in March 2017, and interim measures in December 2016. Dispute involving cost overruns related to the basalt and concrete aggregate in the expansion of the Panama Canal. (Engaged by claimants; parties from Belgium, Italy, Spain & Panama)
• Eoltec Energy, S.L. and Corporación Montealto XXI, S.L. v. ContourGlobal Latam, S.A.; Breach of Contract; ICC Case No. 21070/ASM. Testified in Madrid in April 2018 and February 2018. Filed expert reports on the financial position of several companies in August 2017 and December 2017. Dispute involving the operations of wind farms in Peru. (Engaged by respondent; parties from Spain & Colombia)
• Ferrocarriles del Norte de Colombia S.A. (“FENOCO”) v. Drummond Coal Mining LLC, Drummond Ltd., et al.; Breach of Contract; ICC Case No. 19576/CA/ASM. Testified in Bogota in February 2018. Filed expert reports on damages in August 2017, June 2017, and November 2016. Dispute involving a coal mining operation in Colombia with claims of alleged breaches in contractual obligations involving the rail transport of the coal and issues at the port. (Engaged by claimant; parties from Colombia & United States)
• Grupo Unidos por el Canal, S.A., Sacyr S.A., Salini-Impregilo S.p.A, and Jan de Nul N.V., Constructora Urbana S.A., and Sofidra S.A. v. Autoridad del Canal de Panama; Breach of Contract; ICC Case No. 22588/ASM/JPA. Filed expert reports regarding the financial position of parties to the dispute in a request for interim measures in February 2018. Dispute involving cost overruns in the construction of the new portion of the Panama Canal. (Engaged by claimants; parties from Belgium, Italy & Panama)
• FFF Holdings B.V. and Gleb Gennadievich Fetisov v. Vladimir Vladimirovich Malin; Breach of Contract; LCIA Case No. 153088. Testified in London in March 2017. Filed an expert report on damages in January 2017. Case involving a failed bank in Russia. (Engaged by claimants; parties from Russia)
• Grupo Unidos por el Canal, S.A., Sacyr S.A., Salini-Impregilo S.p.A, and Jan de Nul N.V. v. Autoridad del Canal de Panama; Breach of Contract; ICC Case No. 19962/ASM. Testified in Miami in July 2016. Filed a joint expert report in March 2016 and an expert report on damages in October 2015. Dispute involving cost overruns related to the cofferdam and Cocoli River diversion in the construction of the new portion of the Panama Canal. (Engaged by claimants; parties from Belgium, Italy, Spain & Panama)
• Telecom Egypt Company v. Vodafone Egypt Telecommunications, Vodafone Group Plc, Vodafone Europe BV, Vodafone International Holdings BV; Breach of Contract; Cairo Regional Center for International Commercial Arbitration (CRCICA) arbitration 650 of the year 2009. Testified in Paris in November 2013. Filed expert reports on damages in October 2012, January 2011, and November 2011. Dispute involving an agreement between the fixed line operator and a wireless operator on matters of interconnect and other settlement charges. (Engaged by claimant; parties from Egypt)
• The Egyptian Company for Mobile Phone Services (Mobinil) v. Telecom Egypt Company; Breach of Contract; CRCICA arbitration 644 of the year 2009. Testified in Cairo in October 2013. Filed expert reports on damages in January 2012 and December 2010. Dispute involving an agreement between the fixed line operator and a wireless operator on matters of interconnect and other settlement charges. (Engaged by respondent; parties from Egypt)
• International College of IT and Management (U.S.A.) v. Troy State University; Breach of Contract; ICC Case No. 16 892/VRO. Testified in New York in February 2012. Filed expert reports on damages in August 2011 and December 2011. Dispute involving college programs in Vietnam. (Engaged by respondent; parties from Vietnam & United States)
• Regis Paillardon v. Archer-Daniels-Midland Company and ADM Latin America, Inc.; Breach of Contract; AAA ICDR Case No. 50180T004310. Testified in Miami in September 2011. Filed an expert report on damages in July 2011. Dispute involving a joint venture dealing in agricultural commodities. (Engaged by respondents; parties from Venezuela & United States)
• Fluviomar International Ltd. v. MMX Corumbá Mineracáo S.A. and MMX Metálicos Corumbá Ltda; Breach of Contract; Society of Maritime Arbitrators. Filed a post-award affidavit in the U.S. District Court of the Southern District of New York in July 2011. Testified in New York in August 2010. Filed an expert report on damages in June 2010. Dispute involving a shipping contract for iron ore and pig iron. (Engaged by respondents; parties from Argentina & Brazil)
• Diners Club Ecuador S.A. v. Diners Club International Ltd; Breach of Contract; ICC Case No. 15540/JRF. Testified in London in July 2010. Filed expert reports on damages in May 2010 and October 2009. Dispute involving the operation of payment card operations in Ecuador. (Engaged by respondent; parties from Ecuador & United States)
• Diners Club (Singapore) Pte. Ltd., Diners Club (NZ) Ltd., Diners Club (Malaysia) Sdn. Bhd. v. Diners Club International Ltd; Breach of Contract; ICC Case No. 15339/JEM. Testified in London in December 2009. Filed expert reports on damages in September 2009 and February 2009. Dispute involving the operation of payment card operations in Singapore, New Zealand, and Malaysia. (Engaged by respondent; parties from Malaysia, New Zealand, Singapore & United States)
• MMX Corumbá Mineracáo LTDA and MMX Trade & Shipping LLC v. Eregli Demir Ve Çelik Fabrikalari; Breach of Contract; ICC Case No. 16056/VRO. Filed an expert report on damages in July 2009. Dispute involving a supply contract for iron ore involving parties from Brazil, Turkey, and the United States. Matter settled. (Engaged by claimants; parties from Brazil & Turkey)
• Nejapa Power Company, LLC v. Comisión Ejecutiva Hidroeléctrica Del Río Lempa; Breach of Contract; Testified in April 2009 in Washington, DC. Filed expert reports on damages in March 2009 and October 2008 in an international arbitration conducted under the rules of the United Nations Commission on International Trade Law. Dispute related to a power purchase agreement in El Salvador. (Engaged by respondent; parties from United States & El Salvador)
• FLAG Telecom Group Ltd. v. Videsh Sanchar Nigam Ltd.; Breach of Contract; ICC Case No. 13 638/JNK/EBS. Testified in The Hague in November 2007. Filed expert reports in October 2007 and May 2007 on lost profits claim related to international telecommunications and the Indian market. Claimant awarded damages in the amount presented by Hart. (Engaged by respondent; parties from United Kingdom & India)
• UEG Araucaria Ltda. v. Companhia Paranaense de Energia; Breach of Contract. Filed expert reports in May 2005 and December 2005 in an ICC case on the losses sustained by a consortium of investors contracted to build a gas-fired thermal power plant in Brazil. Matter settled. (Engaged by claimant; parties from United States & Brazil)
• MCI Global Resources, Inc. and MCI International, Inc., v. Metro Position Sdn. Bhd.; Breach of Contract; ICC Case No. 9134/CK. Testified in September 1997 in Paris. Filed an expert report in May 1997. Dispute involving prepaid calling cards. (Engaged by claimants; parties from United States & Malaysia)

Domestic Disputes Testimony

• Knighted Pastures, LLC v. Yangyang Li et al. and Allied Gaming & Entertainment, Inc.; Breach of Fiduciary Duty; Court of Chancery of the State of Delaware; C.A. No. 2024-1158-JTL. Testified in a deposition in April 2025. Filed an expert report regarding valuation and forensic accounting in March 2025. Dispute involving the discounted sale of the shares of a public company in the gaming and entertainment business (Engaged by plaintiff)
• American Proteins, Inc et al. v. River Valley Ingredients LLC, et al.; Antitrust; S. District Court for the Northern District of Georgia, Gainesville Division; C.A. No. 2:22-CV-091-RWS. Testified in a deposition in March 2025. Filed an expert report regarding damages in January 2025. Dispute involving poultry by-product processing facilities. (Engaged by defendants)
• Robert R. Fine et al. v. Kansas City Life Insurance Company; Breach of Contract; S. District Court for the Central District of California; Case No. 2:22-cv-02071-SSS-PD. Testified in a deposition in March 2025. Filed an expert report on damages in February 2025 in a class action. Dispute involving cost of insurance charges in life insurance contracts. (Engaged by defendant)
• Confidential Matter; Breach of Contract; Arbitration. Filed an expert report in December 2024 in a dispute regarding compensation for a pipeline traversing the First Nation group’s reserve. (Engaged by respondents)
• River Valley Ingredients LLC, et al. v. American Proteins, Inc et al.; Fraud and Breach of Contract; Superior Court of the State of Delaware; C.A. No. N19C-12-160 MMJ CCLD. Testified in a bench trial in November 2024 and in virtual depositions in January 2024 and November 2023. Filed expert reports regarding damages in December 2023 and October 2023. Dispute involving poultry by-product processing facilities. (Engaged by plaintiffs)
• Larry McMillan et al. v. Kansas City Life Insurance Company; Breach of Contract; S. District Court for the District of Maryland Northern Division; Case No. 1:22-cv-01100-BAH. Filed a declaration regarding class certification issues in March 2024. Dispute involving the cost of insurance charges in life insurance contracts. (Engaged by defendant)
• Confidential Matter; Fraud and Breach of Contract; Filed an expert report in December 2023. Dispute involving a limestone quarry and port development. (Engaged by claimants)
• Janet Fyock et al. v. Fifth Third Bank; Breach of Contract; S. District Court for the Southern District of Ohio; Case No. 1:12-CV-00851. Testified in a jury trial in April 2023 and in a virtual deposition in July 2022. Filed expert reports in June 2022 and May 2022, and an expert declaration regarding damages and class certification issues in July 2020 in a dispute involving cash advance loans and related disclosures. Jury found breach of contract and zero damages. (Engaged by defendants)
• The Neiman Marcus Group LLC & NMG Team Loan Propco LLC v. Copley Place Associates, LLC; Breach of Contract; AAA Case No. 01-21-0003-9327. Testified in a virtual hearing in October 2022 and in a deposition in September 2022. Filed expert reports in September 2022, July 2022, and June 2022 regarding damages in a dispute involving construction that impacted the operations of a luxury retailer. (Engaged by claimant)
• Compagnie des Grand Hôtels D’Afrique S.A. v. Starman Hotel Holdings LLC; Alter Ego; U.S. District Court for the District of Delaware; Case No. 1:18-cv-00654-RGA. Testified in a deposition in July 2022. Filed an expert report regarding the financial and operational questions involved in the determination of alter ego in April 2022 in a dispute involving the operation, management, and control by a parent entity of a Moroccan subsidiary that held a long-term lease to a hotel in Casablanca. (Engaged by plaintiff)
• Confidential: Physician v. Pharmaceutical Company; Breach of Contract; AAA. Testified in a virtual hearing in March 2022. Filed expert reports regarding issues of liability and damages in March 2022 and January 2022 in a dispute involving claims for royalties and stock options related to a pharmaceutical product. (Engaged by defendant)
• Robert W. Baker, Jr., et al. v. Two Farms, Inc., et al.; Involuntary Dissolution; Circuit Court for Baltimore County; Case No. C-03-CV-19-004102. Testified in bench trial in November 2021 and in a deposition in July 2021. Filed expert reports on the fair value of the company and the minority shareholders’ interest in the company in June 2021 and March 2021. Shareholder dispute involving the oppression of the minority shareholders of a company owning a regional chain of convenience stores with gas stations. Case settled during trial. (Engaged by plaintiffs)
• Black Horse Capital LP, et al. v. Auxilium Pharmaceuticals, Inc.; Breach of Contract; AAA Case No. 01-20-0000-3951. Testified in a virtual hearing in July 2021. Filed expert reports regarding damages in June 2021 and April 2021 in a dispute involving claims for royalties related to a pharmaceutical product. (Engaged by defendant)
• Charles David Wood, Jr. and DNIC Insurance Holdings et al. v. U.S. Bank National Association et al.; Breach of Fiduciary Duty, Unjust Enrichment, Fraudulent Conveyance; Court of Chancery, Delaware; Civil Action No. 2017-0034-JTL. Testified in a virtual deposition in March 2021. Filed expert reports on damages in January 2021 and on the benefits received by parties to the litigation and the conduct of certain executives in December 2020. Dispute involving the failure of an insurer and reinsurance company. (Engaged by defendants)
• The Official Stanford Investors Committee, Peggy Roif Rotstain, et al., v. Trustmark National Bank, et al.; Aiding and Abetting Fraud and Breach of Fiduciary Duty; U.S. District Court for the Northern District of Texas; Case No. 3:09-CV-02384-N. Testified in a virtual deposition in December 2020. Filed an expert report in September 2020 regarding the fraud perpetrated by Allen Stanford and his co-conspirators in the operation of a decades-long Ponzi scheme and the related allegations against Trustmark. (Engaged by defendants)
• Ad Astra Recovery Services, Inc. v. John Clifford Heath, Esq., Lexington Law Firm, et al; RICO; U.S. District Court for the District of Kansas, Wichita; Case No. 6:18-cv-01145-JWB-KGS. Filed expert reports on damages in February 2020 and November 2019. Dispute involving the bill collection industry. (Engaged by defendants)
• Senior Health Insurance Company of Pennsylvania v. Beechwood Re Ltd., et al; Breach of Contract, Breach of Fiduciary Duty, Fraud in the Inducement, Gross Negligence; U.S. District Court for the Southern District of New York; Case No. 1:18-cv-06658. Testified in deposition in December 2019. Filed expert reports in December 2019, November 2019, and December 2018 on issues of fraud and damages. Dispute related to the management of an insurer’s assets involved with the collapse of hedge funds and related-party reinsurers. Case settled before trial. (Engaged by plaintiff)
• Anthony S. Unger, M.D. v. Zimmer Biomet Holdings, Inc. and Biomet Manufacturing, LLC; Breach of Contract; CPR File G-19-15-G. Testified in New York in a September 2019 hearing. Filed expert report related to breach of contract damages in August 2019. Dispute involving an agreement for the development of knee replacement products. (Engaged by claimant)
• Accident Insurance Company, Inc. v. U.S. Bank National Association; Breach of Contract, Negligence and Misrepresentation; U.S. District Court for the District of South Carolina; Case No. 3:16-cv-2621-JMC. Testified in bench trial in July 2019. Filed expert reports on damages in June 2019 and July 2018. Dispute involving the failure of a reinsurance company and collateral held in a bank trust account. Judge returned defense verdict. (Engaged by defendant)
• DT Consultants, LLC v. Howmedica Osteonics Corporation; Breach of Contract; U.S. District Court for the District of Maryland; Case No. 1:17- cv-01697-GLR. Testified in deposition in May 2019. Filed expert reports on damages in April 2019 and February 2019. Dispute involving a license agreement involving medical data. (Engaged by defendant)
• Whirlpool Corporation v. Drinker Biddle & Reath LLP, et al; Malpractice; Circuit Court of Cook County, Illinois; Case No. 2015- L-007631. Testified in jury trial in November 2018 and in deposition in June 2018. Filed an expert report on damages in May 2018 involving lost profits and excess cost claims related to import duties involving parts for household appliances. Jury returned defense verdict. (Engaged by defendants)
• Prostar Wireless Group, LLC v. Domino’s Pizza, Inc.; and Does 1-100; Breach of Contract, Tortious Interference, Breach of Fiduciary Duty, Interference with Economic Relations, Misappropriation of Trade Secrets; U.S. District Court for the Northern District of California; Case No. 3:16-cv-05399-WHO. Testified in deposition in October 2018. Filed an expert report on damages in September 2018. Dispute involving the development of software for food delivery. Case dismissed on summary judgment. (Engaged by defendant)
• Profit Investment Management, LLC and Eugene R. Profit v. Michelle Profit, Dr. Joseph Quash, and Dr. Thomas Pinder; Negligence; Montgomery County Circuit Court, Maryland; Case No. 430677-V. Filed an expert report on damages in December 2017. Dispute involving an asset management business. Case settled before trial. (Engaged by plaintiffs)
• Companion Property and Casualty Insurance Company (n/k/a Sussex Insurance Company) v. U.S. Bank National Association/U.S. Bank National Association as 3rd party plaintiff v. 3rd party defendants Redwood Reinsurance SPC, Ltd., Southport Lane Advisors, Southport Specialty Finance, Administrative Agency Services and Alexander Chatfield Burns; Breach of Contract; U.S. District Court for the District of South Carolina, Columbia; Case No. 3:15-cv-1300 JMC. Filed expert reports on fraud and damages in April 2017 and March 2017. Dispute involving the failure of two reinsurance companies and collateral held in bank trust accounts. Case settled before trial. (Engaged by defendants)
• Franklin Raines v. Federal National Mortgage Association, et al.; Breach of Contract; Arbitration. Testified in Washington, DC, in hearing and deposition in February 2017. Filed expert reports in February 2017 and April 2016. Dispute involving the pension benefits due upon plan termination. (Engaged by claimant)
• Synergics Energy Service, LLC v. Algonquin Power Fund (America), Inc.; Breach of Contract; U.S. District Court for the District of Maryland; Case No. 1:13-cv-2257. Filed an expert report on damages in October 2014. Dispute involving the sale of power generation assets. Case settled before trial. (Engaged by plaintiff)
• Aetna Life Insurance Company v. Inovalon, Inc.; Breach of Contract; AAA Case No. 12 193 Y176 13. Filed an expert report on damages in May 2014. Dispute involving advanced data analytics in the health insurance industry. (Engaged by respondent)
• Orbital Sciences Corporation v. United Launch Alliance, LLC and RD Amross, LLC; Antitrust; U.S. District Court for the Eastern District of Virginia; Case No. 1:13-CV-00753 LMB/JFA. Testified in deposition in March 2014. Filed an expert report on damages in February 2014. Dispute involving the availability of rocket engines for space launch vehicles in the United States. Case settled before trial. (Engaged by plaintiff)
• Spanski Enterprises, Inc. v. Telewizja Polska S.A.; Breach of Contract; U.S. District Court for the Southern District of New York; Case No. CV 10 CV 4933. Testified in bench trial in July 2013 and in deposition in June 2012. Filed expert reports on damages in April 2012 and May 2012. Dispute involving distribution rights for Polish television content for broadcast and Internet distribution in the Americas. Court awarded a small portion of the damages claimed. (Engaged by defendant)
• Securities Investor Protection Corporation v. Bernard L. Madoff Investment Securities LLC; Bankruptcy; U.S. Bankruptcy Court Southern District of New York; Case No. 08-1789(BRL). Filed an expert report in April 2013 related to the claim valuation methodology and accounting for the time value of money. (Engaged by certain customer defendants)
• Oral Cancer Prevention International, Inc. v. OraPharma. Inc., Johnson & Johnson, and Johnson & Johnson Consumer Companies, Inc.; Breach of Contract; AAA Case No. 13 122 Y 01477 12. Testified in a hearing in New York in February 2013. Filed an expert report on damages in December 2012. Dispute involving the sales of an oral cancer detection product. (Engaged by claimant)
• John DeGroote Services, LLC, et al. v. F. Edwin Harbach, et al.; Breach of Fiduciary Duties; Circuit Court Fairfax, Virginia; Civil Action No. 2011-10612. Filed an expert report on damages in January 2013. Dispute involving claims against a former officer and the directors of BearingPoint related to events preceding bankruptcy. Case settled before trial. (Engaged by defendant)
• John Garamendi v. Altus Finance S.A., et al; Fraud; U.S. District Court for the Central District of California; Case No. CV-99- 02829 (CWx). Testified in jury trial in October 2012 and deposition in August 2009. Filed an expert report on damages in April 2009 involving the insolvency of Executive Life Insurance Company and the fraud involving the French government. No liability found by jury. (Engaged by plaintiff)
• BDO Seidman LLP v. Morgan Lewis & Bockius LLP; Professional Negligence, Legal Malpractice, Breach of Fiduciary Duty, Fraud, Breach of Contract; Superior Court for the District of Columbia. Filed an affidavit in April 2012 and testified in deposition in November 2011. Filed expert reports on damages in January 2012 and October 2011. Dispute involving legal advice to the accounting firm in general and its tax products business. Matter dismissed on summary judgment. (Engaged by plaintiff)
• PSM Holding Corporation v. National Farm Financial Corporation, et al.; Breach of Contract, Fraud; U.S. District Court for the Central District of California; Case No. CV 05-8891 MMM (FMOx). Testified in deposition and filed an expert report as the court-appointed expert on valuation in March 2012. Dispute involving claims for restitution related to an insurance company that was improperly transferred and later returned to the original owner. (Engaged as court-appointed expert)
• Petrus W. Roelvink, Ph.D. v. Medimmune, LLC; Wrongful Termination; AAA. Filed an expert report on damages in February 2011 involving lost back pay and future lost compensation. Matter settled before the hearing. (Engaged by respondent)
• Fifth Third Bank v. Transamerica Life Insurance Company and Clark Consulting, Inc.; Breach of Contract, Breach of Fiduciary Duty, Professional Negligence, Fraud, Negligent Misrepresentation, Insurance Bad Faith; U.S. District Court Southern District of Ohio Western Division. Testified in deposition in January 2010. Filed an expert report on damages in November 2009. Dispute involving the performance of investments supporting bank-owned life insurance. Matter settled before trial. (Engaged by defendants)
• British Sky Broadcasting Ltd. and Sky Subscriber Services Ltd. v. Electronic Data Systems Ltd. and Electronic Data Systems Corporation; Breach of Contract. Testified in the High Court of Justice, Queen’s Bench Division – Technology and Construction Court (England & Wales) in July 2008 as damages expert and filed a joint memorandum of the experts following the judgment in February 2010. Filed a number of expert reports with respect to costs and lost benefits from August 2007 through June 2008 on breach of contract and negligent misrepresentation claims related to a customer relationship management system. Matter settled following award. (Engaged by defendants)
• Invensys Building Systems, Inc., et al. v. Aztec Energy Partners, Inc. et al.; Tortious Interference; Federal District Court for the Northern District of Georgia; Case No. 1:03-CV-1727 (BBM). Filed an expert report in February 2004 on lost profit damages and valuation of the loss of enterprise value related to the departure of key employees and their actions in an energy controls business. (Engaged by plaintiff)
• Eplus, Inc. v. Centura Bank; Breach of Contract; AAA Case No. 16 Y 168 00417 01. Filed an expert report on damages in January 2002. Testified in deposition in June 2002. Matter involving a post-acquisition dispute related to an equipment leasing company. Matter settled. (Engaged by plaintiff)
• DCV Holdings, Inc. v. ConAgra, Inc. and DuPont, et al.; Breach of Contract and Antitrust; Delaware Superior Court; Case No. 98C-06-301-JEB. Testified in deposition in November 2001. Filed an expert report in October 2001. Matter involving a post-purchase dispute involving alleged breach of warranties. (Engaged by defendants)
• MCI WorldCom Communications, Inc. v. Electronic Data Systems Corporation, et al.; Breach of Contract; AAA Case No. 13-Y-180-00223-01. Filed an expert report in July 2001 rebutting the opinions of an economist and accountant regarding issues of damages and liability in a case involving an outsourcing contract valued at more than $6B. (Engaged by plaintiff)
• Bernard B. Fulk III v. Washington Service Associates, et al.; Breach of Contract; Delaware State Chancery Court; Case No. 17747. Filed affidavit testimony in May 2001 providing findings and opinions regarding the application of generally accepted accounting principles (GAAP) as related to the potential dissolution of a business. (Engaged by defendants)
• District of Columbia – City Council; Legislative. Hearings on proposed legislation, the New Economy Transformation Act of 2000, July 2000. Testified on the potential fiscal impact to the District of Columbia resulting from the economic and tax incentives in the proposed legislation. The legislation as proposed became law. (Engaged by bill sponsors)
• CSX Corporation v. Norfolk Southern Corporation; Breach of Contract; AAA. Testified in September 1999. Dispute involving the appropriate treatment of the Philadelphia headquarters office lease under the transaction agreement related to the split of Conrail. Testimony involving the application of GAAP and the economics of the lease transaction. (Engaged by plaintiff)
• D’Andrea v. American Communications Services Inc.; Breach of Contract; Anne Arundel County Court, Maryland. Testified in deposition in June 1998. Filed an expert report in May 1998. Matter involving an employment dispute with testimony on internal controls and the operations of accounting and finance departments. (Engaged by plaintiff)
• Group Hospitalization and Medical Services, Inc., v. Policy Management Systems Corporation; Breach of Contract; U.S. District Court for the District of Columbia; Civil Action No. 97cv790. Testified on damages in deposition in May 1998. Filed an expert report in March 1998. Dispute involving royalty and commissions due under the contract. (Engaged by plaintiff)
• The Rehabilitation of Mutual Benefit Life; Insolvency; New Jersey Chancery Court; Docket No. C-91-00109. Filed affidavit in January 1998. The affidavit testimony provided the methodology and calculations necessary to file a claim on behalf of the state life and health insurance guaranty associations for creditor claims arising prior to the rehabilitation of the company.

Corporate Restructuring/Insolvency

Tim has assisted stakeholders in troubled financial situations involving restructuring and insolvency, including the following:

• Provided financial, accounting, systems, project management and transaction services related to insolvencies, including Guaranty Security Life Insurance Company (1991–1993), Mutual Benefit Life Insurance Company (1992–1994), Investment Life Insurance Company of America (1993–1994), Consolidated National Life Insurance Company (1994), Alabama Life Insurance Company (1994), American Educators Life Insurance Company (1994), Mutual Security Life Insurance Company (1994), Summit National Life Insurance Company (1994), Monarch Life (1994–2001), Fidelity Bankers Life Insurance Company (1995–2000), National American Life (1995), Executive Life Insurance Company (1996–2001), Coastal States Life (1996), American Standard Life Insurance Company (1997–1999); Statesman National Life Insurance Company (1999); Thunor Trust Companies (1999–2001); Reliance Insurance Company (2001); London Pacific Life & Annuity (2002–2004); Life and Health Insurance Company of America (2004); Executive Life Insurance Company of New York (2007–2008); Standard Life Insurance Company of Indiana (2008–2011); and Shenandoah Life Insurance Company (2009–2011)
• Assisted a financial services regulator in the special examination of a company providing advice on asset valuation issues (2009–2010)

Investigations

Tim has performed a wide range of forensic accounting investigations, including situations involving alleged accounting fraud, asset defalcation, and violation of regulations or company policy. The following are representative of his investigative experience:

• Performed an accounting investigation of a fintech company on behalf of management (2021)
• Performed an accounting investigation of a not-for-profit organization on behalf of a board of directors (2014)
• Performed an accounting investigation of a not-for-profit foundation on behalf of a special committee (2013)
• Performed an investigation of sales practices on behalf of the top management of a medical device company (2009)
• Performed a special examination focused on the distressed assets of a large life insurer on behalf of a state insurance commissioner (2009)
• Performed an independent investigation on behalf of the audit committee of the board of directors of a chemical company that was undergoing a U.S. Securities and Exchange Commission (SEC) investigation (2005–2006)
• Performed an independent investigation on behalf of the audit committee of the board of directors of a medical practice company that was undergoing an SEC investigation (2005)
• Performed independent investigations on behalf of the special committees of the board of directors of two for-profit post-secondary education providers responsive to various federal investigations (2005–2006)
• Performed an independent accounting investigation on behalf of the audit committee of a medical device company responsive to an SEC investigation (2003–2004)
• Performed an investigation and provided litigation support related to a cable company involving a wide range of accounting and operational issues (2003–2004)
• Performed an accounting investigation of a retailer responsive to an SEC investigation to identify the causes of a balance sheet misstatement, including interviews of top management and operating personnel in concert with forensic accounting review of the related accounts (2002–2003)
• Provided litigation support, including forensic accounting and investigative services for counsel to an audit firm in response to the congressional, civil, SEC, and criminal investigations and litigation involving an energy company (2002)
• Engaged by the board of a parent company to investigate and then restructure an insurance brokerage (2000)
• Coordinated a team to provide a consortium of law firms with financial analysis, document production, distribution, and retrieval of information involving an investment bank’s junk bond operation (1987–1989)
• Investigated and quantified the amount embezzled from a not-for-profit over a two-year period (1988)

Audit

Tim performed audits primarily focused on regulated and governmental entities.

Publications

• “Study of Damages Awards in Investor-State Cases,” Transnational Dispute Management, February 2021; and supplement to the same study, November 2021
• “Study of Damages in International Center for the Settlement of Investment Disputes Cases,” Transnational Dispute Management, June 2014

Presentations and Speaking Engagements

• “Financial Services – The Broken Promises,” University of Notre Dame Mendoza School of Business Ethics Week, February 2012

• BBA, University of Notre Dame, USA
• Certified Public Accountant (CPA), Washington, DC
• Certified Forensic Examiner (CFE)

Language

• English (Native)

Accounting and Auditing

Steve has led hundreds of financial statement audits and other assurance engagements that involved planning and supervising fieldwork, testing transactions, evaluating the appropriateness of accounting policies, and reviewing financial statement presentations and disclosures. Typically, these engagements have included the evaluation of internal controls. In addition, his work has often involved performing agreed-on procedures testing and testing compliance with contracts and agreements, such as loans, leases, royalty agreements, and government grants. Steve has also frequently served as a fraud specialist supporting audit teams and coordinated with outside counsel and other forensic firms in internal investigations of allegations of accounting fraud.

Forensic Accounting, Auditing and Financial Reporting Investigations, and Litigation Matters

As a highly regarded expert witness and consultant, Steve has been engaged to assist clients with a wide range of accounting, auditing, financial reporting, and fraud matters. He has worked across many industries involving liability, causation, and damages issues emanating from accounting and financial information. Steve has been qualified as an expert in federal and state courts and testified in arbitrations in a variety of forums.

Accounting Disputes

• Maxar Technologies (2020–2023) – Retained as an accounting expert in defense of several shareholder suits brought against an aerospace company alleging accounting fraud related to impairments of long-lived assets, inventory valuation, and revenue recognition on long-term contracts.
• Confidential Client (2021) – Assisted the sellers of a medical lab in obtaining a substantial earnout payment in a dispute over revenue recognition for COVID-19 testing.
• CVS Health (2021) – Assisted a major health insurance company in a purchase price adjustment dispute in a neutral accountant arbitration regarding the acquisition of a statewide Medicaid health plan, which resulted in an arbitration award for a substantial reduction of the purchase price.
• Life Sciences Industry (2020–2021) – Assisted a life sciences company in successfully disputing a $225M earnout related to numerous erroneous adjustments to earnings before interest, taxes, depreciation, and amortization (EBITDA) claimed by the seller.
• Auditor Defense (2020) – Mathew Pliskin as trustee of Iron Clad Performance Wear v. BDO LLP – AAA Case No. 01-19-000-4459; rebuttal expert on liability, causation, and damages on behalf of an audit firm.
• S. Securities and Exchange Commission (SEC) (2020) – Retained by the SEC to serve as an accounting expert in a case brought against a member of management of a registrant that improperly accounted for foreign currency translation.
• Pharmaceutical Industry (2017–2018) – Served as the lead accounting expert and overall engagement leader in defending against a $1.4B working capital adjustment claimed by the buyer of the generics business of a major pharmaceutical company.
• Power Plant Construction Dispute (2017) – Served as the lead accounting expert in a $750M post-transaction dispute involving percentage of completion and other accounting issues for a company involved in the construction of nuclear power plants.
• Health Insurer Payment Dispute (2016) – Children’s Hospital of Central California v. Blue Cross of California, et al. – Superior Court of the State of California, County of Madera Case No. MCV 048512; expert testimony regarding hospital accounting for patient services in connection with a dispute over how much should be paid for services when the hospital did not have a contract with the health plan.
• Thomson Reuters Special Services, LC v. T4 Data Group, LLC (2016) – U.S. District Court for the Eastern District of Virginia, Case No. 1:15cv1400 – LMB/IDD; expert report and consulting regarding amounts due under a software license arrangement.
• Hospital Uncompensated Care (2014) – Health Care Foundation of Greater Kansas City v. HCA, Inc. – Circuit Court of Jackson County, Missouri, Case No. 0916-CV30692; served as an expert witness in a special master proceeding regarding the provision of uncompensated care by 11 hospitals in the Kansas City area. Provided approximately four days of hearing testimony covering hospital accounting and auditing, quantification and reporting of uncompensated care, and statistical sampling and testing of patient accounts.
• Agribusiness Client (2013) – Served as an expert witness in arbitration regarding royalties arising from the use of intellectual property related to meat production. The arbitrators awarded damages in excess of $12M based on Steve’s testimony.
• Lockheed Martin Securities Class Action (2012) – City of Pontiac General Employees’ Retirement System v. Lockheed Martin Corporation, et al. – U.S. District Court for the Southern District of New York, Case No. 1:11-cv-05026-JSR; served as an expert witness regarding accounting and financial reporting matters related to revenue recognition in a class action shareholder suit.
• Magellan Behavioral Health, Inc. v. Molina Healthcare of Florida, Inc. (2012) – AHLA Arbitration Case No. A-052011-924; hearing and deposition testimony, and expert report regarding damages in a breach of contract dispute. The arbitrator awarded damages based on Steve’s testimony.
• Exela Pharmsci, Inc. v. Teva Pharmaceuticals USA, Inc. (2012) – Circuit Court of Loudoun County, Virginia, Case No. CL00064707-00; expert rebuttal witness on damages related to a recall and delay in sales of a pharmaceutical product.
• The Research Foundation of State University of New York v. Nektar Therapeutics (2011–2012) – U.S. District Court for the Northern District of New York, Case No. 1:09-CV-1292; expert witness related to pharmaceutical company accounting and financial reporting.
• Salix Pharmaceuticals, Inc. v. Napo Pharmaceuticals, Inc. (2011) – Court of Chancery of the State of Delaware, Case No. 6599-VCG; expert witness related to accounting and financial operations of a pharmaceutical company.
• Not-for-Profit Hospital (2010) – CSAHS/UHHS-Canton, Inc. d/b/a Mercy Medical Center v. Aultman Health Foundation, et al. – U.S. District Court for the Northern District of Ohio Eastern Division, Case No. 5:09-CV-57; served as an expert witness in a jury trial between the two not-for-profit hospital systems in Canton, Ohio, regarding the improper accounting and tax return treatment of certain transactions. The jury returned a verdict in favor of the client, finding that the opposing party engaged in a pattern of corrupt activity, and awarded the largest business dispute verdict ever in Stark County, Ohio.
• Multinational Energy Company (2010) – Assisted counsel and testifying experts for Southern Company in a $2B claim related to the spin-off and subsequent bankruptcy of Mirant Corporation. Issues addressed included accounting restatements, asset impairments, energy trading, and financing transactions.
• White Collar Defense (2009–2010) – United States of America v. Mark P. Kaiser – U.S. District Court for the Southern District of New York, No. 04-Cr.-733 (TPG); expert witness in connection with Rule 33 motion for a new trial related to accounting fraud allegations related to U.S. Food Service/Royal Ahold.
• Mechanical Contactor (2008–2009) – Washington Gas Resources Corp. v. American Combustion Acquisition, LLC – Circuit Court of Montgomery County, Maryland, Case No. 285861-V; expert witness trial and deposition testimony in a post-sale dispute regarding net book value and receivable collections. The court ruled in WGR’s favor citing Steve’s testimony.
• Bond Compliance Dispute (2008) – Georgia Gulf Corporation, et al. v. Sandelman Partners, et al. – Court of Chancery of the state of Delaware; expert witness regarding compliance with the terms of a bond indenture.
• Health Plan (2007) – Select Medical Corporation v. Medical Care Management Systems, Inc. t/d/b/a America’s Choice Healthplans, Inc., et al. – Court of Common Pleas, Cumberland County, Pennsylvania, Civil Action No. 03-1037; expert rebuttal report and assistance in mediation regarding alleged damages related to a health plan contract.
• Stock Option Backdating (2007–2009) – Securities and Exchange Commission v. Gregory L. Reyes, et al. – U.S. District Court for the Northern District of California, No. C-06-4435; accounting expert and consultant regarding employee stock options and stock-based compensation expense in connection with two criminal trials and an SEC enforcement action.
• Healthcare Industry (2006) – North Shore Pharmacy, Inc. and Value Pharmacy, Inc. v. Breslin Associates Consulting, LLC/Breslin Associates Consulting LLC v. Omnicare, Inc. – U.S. District Court, District of Massachusetts, Civil Action No. 02-11760-NG; expert witness related to the evaluation and testing of an audit of compliance with a pharmacy contract between Omnicare pharmacies and a group of nursing homes.
• Medical Practice Billing (2005) – United States ex rel. Karon E. Hill v. Morehouse Medical Associates, Inc. – U.S. District Court Northern District of Georgia, Atlanta Division, Civil Action File No. 1:00-CV-1858-GET; expert witness in a qui tam complaint regarding Medicare billings by medical school physicians.
• White Collar Prosecution (2005) – United States v. Dov Shellef, et ano. – U.S. District Court Eastern District of New York, Case No. 03-CR-723; expert testimony on behalf of the prosecution in a jury trial on accounting and auditing matters.
• University Accounting Matter (2003) – University of Cincinnati v. Ohio Insurance Guaranty Association – Hamilton County Court of Common Pleas, Cincinnati, Ohio, Case No. A0205696; expert trial testimony involving definition and quantification of the net worth of a public university. The court ruled in OIGA’s favor based on Steve’s testimony.
• Greater Southeast Hospital Bankruptcy (1999) – U.S. Bankruptcy Court for the District of Columbia, Case No. 99-01159; testified as an expert witness in a cash collateral hearing on behalf of the bond trustee.

Other Expert Witness Engagements

• Healthcare Staffing Company Breach of Contract Dispute (2022–2023) – Retained as an expert witness in a contract dispute between a healthcare staffing company and a hospital company.
• Chemicals Company Breach of Contract Dispute (2022–2023) – Retained as an expert witness in a dispute involving prices charged under a long-term supply agreement.
• Consumer Class Action Litigation (2021–2022) – Javanni Munguia-Brown, et al. v. Equity Residential, et al. – Case No. 4:15-CV-01225-JSW-TSH; expert witness in a class action litigation regarding late rent fees charged in California by one of the largest publicly traded real estate investment trusts (REITs) of upscale apartment communities.
• Manufacturer Breach of Contract Dispute (2020–2022) – ATI Titanium, LLC v. US Magnesium, LLC – Case No. 2:17-cv-00923-HCN-PMW; expert witness regarding contract termination and the closure of a titanium production facility. Case settled on favorable terms just prior to trial.
• Chevron Corporation v. Republic of Ecuador (2019–2022) – UNCITRAL Arbitration PCA Case No. 2009-23; expert witness regarding recoverable costs incurred by Chevron in a long-running dispute with Ecuador.
• Asset Tracing (2020–2022) – United States of America Department of Justice Asset Forfeiture and Money Laundering Section v. All assets held in the investment portfolio of Blue Holding (2) Pte. Ltd., on behalf of or traceable to Ridley Group Limited, and/or the Ridley Trust at J.O. Hambro Investment Management Limited and all interest benefits, or assets traceable thereto, et al. – Case No. 13-cv-1832-JDB; expert witness regarding asset tracing of funds held in foreign investment accounts over a 25-year period that emanated from fraud schemes perpetrated by a former ruler of Nigeria. This matter led to the recovery and repatriation of $23M stolen by General Sani Abacha.
• Hospital Antitrust Class Action (2017–2022) – Led a team of health insurance experts, health actuaries, and data analysts in connection with the defense of two class action lawsuits alleging that the largest health system in Northern California used its market power to illegally charge excessive rates resulting in higher health insurance costs to employers and individuals.
• Health Insurance Network Dispute (2020) – Saint Peter’s University Hospital, Inc. v. Horizon Healthcare Services, Inc. – Superior Court of New Jersey; provided consultation and expert witness support in connection with a lawsuit brought by a hospital that was not placed in the top tier of a newly established provider network.
• Lender Liability Matter (2016–2017) – Palm Beach Finance Partners, et al. v. General Electric Capital Corporation – U.S. Bankruptcy Court, Southern District of Florida, Case No. 09-36379-PGH; rebuttal expert in a case involving losses sustained by an investor in the Thomas Patters Ponzi schemes.
• Hospital Billing Qui Tam Case (2017) – United States of America and State of California, ex rel. Paul Chan v. PAMC, Ltd. and Pacific Alliance Medical Center – U.S. District Court for the Central District of California, Case No. 13-cv-04273-RGK (MRWx); damages rebuttal expert on behalf of a hospital in a Stark Law/Anti-Kickback Statute qui tam matter with allegations of improper financial relationships with referring physicians.
• Airline Pilots Pension Fund (2013) – US Airline Pilots Association v. Pension Benefit Guarantee
  – U.S. District Court for the District of Columbia Civil Action No. 1:09-cv-01675 (HHK); expert witness related to the financial management of the assets of the pension plan for USAir pilots after the bankruptcy of the airline.

M&A Transaction Disputes

Steve has assisted buyers and sellers in numerous post-merger and acquisition (M&A) disputes involving purchase price adjustments related to working capital, net assets, and inventory valuations, as well as earn-out disputes based on revenues or profitability post-transaction. He has frequently served as a neutral accountant to arbitrate such disputes. These matters have included disputes involving amounts from several million dollars to in excess of $1B. The most prevalent issues in dispute were related to accounting for accounts receivable and related reserves for uncollectable accounts, inventory valuation including reserves for excess or obsolete inventory, accrued liabilities, warranty reserves, contingent liabilities, revenue recognition, and nonrecurring expenses. The matters covered a wide range of industries, including technology, energy, chemicals, manufacturing, publishing, professional services, construction, healthcare providers, health plans, and life sciences.

Forensic Investigations

Steve has led a wide range of forensic accounting investigations related to generally accepted accounting principles (GAAP), financial reporting and disclosure and other accounting matters, internal controls, compliance with laws and regulations, and allegations of financial impropriety. These matters have included many high-profile alleged accounting fraud matters that have occurred over the past 20 years. Some of his current and previous engagements are as follows:

• Cannabis Company (2022–2023) – Serving as the independent consultant for a publicly traded cannabis company in connection with an enforcement settlement with the SEC and Ontario Securities Commission. This undertaking involves assessing internal controls, critical accounting policies, and staffing accounting and finance functions.
• Professional Sports Teams (2018–2022) – Assisted the minority owner of two professional sports teams, the arena where they played, and an adjacent mixed-use real estate development in evaluating past related-party transactions. Also worked with two valuation firms to determine the fair value of the ownership interest in connection with a potential purchase by the majority owner. Continued to provide ongoing monitoring of the financial operations of the teams and related assets.
• Middle Eastern Food Commodities Distributor (2021) – Performed an investigation into allegations made by a United Nations Panel of Experts that a major importer and distributor of food commodities was engaged in profiteering and money laundering in connection with a government-funded aid program.
• Online Training Provider (2019–2021) – Performed an investigation on behalf of the buyer of an online training provider, which identified apparent fraud and failure to disclose known accounting misstatements related to underpayment of sales tax and overstatement of accounts receivable.
• Major Industrial Company (2018–2020) – Led a team of forensic investigators, technical accountants, and internal control specialists working with outside counsel performing an internal investigation in connection with an SEC and DOJ investigation. The accounting and financial reporting issues involved billions of dollars in revenue recognition under long-term service contracts and insurance reserves.
• Not-for-Profit Organization (2020) – Led an investigation of embezzlement perpetrated by the former CFO of the organization.
• Specialty Apparel Company (2018–2020) – Led an investigation into revenue recognition and related disclosures in connection with an SEC investigation. The project involved evaluating sales transactions at the end of quarters for compliance with ASC 605.
• Public Health System (2019) – Performed an independent investigation on behalf of the Board of Cook County Health in response to concerns raised in an Inspector General’s report. The investigation addressed allegations related to the financial position and operations of Chicago’s public hospital system and an affiliated Medicaid health plan, which culminated in a report to the elected Cook County Board.

Financial Due Diligence and Financing Transactions

Steve has assisted buyers and sellers in M&A transactions including acquisition due diligence engagements for potential acquirers of several manufacturers, health care providers, health insurance companies, a temporary staffing company, and a home security business that involved assessing financial risks, preparing financial projections, and evaluating operating synergies and transaction structures. In addition, he has advised on sale transactions. Steve has also assisted clients with financing transactions, including stock and bond registrations, tax-exempt bond issuances, private placements, and bank financings.

Publications & Papers

• “Pay Close Attention to Financial Reporting About Litigation”, Co-author, National Association of Corporate Directors, Directorship magazine, June/July 2011
• “Stock Option Backdating”, Legal Times, March 2007

Presentations & Speaking Engagements

• “COVID Legal Issues That Will Be with Attorneys Long after the Virus Is Gone”, Panelist, USC Gould School of Law Institute for Corporate Counsel, October 2021
• “Under the Microscope, Making Sense of Today’s Health Care Enforcement Landscape”, Deloitte webinar and related article, October 2017
• “What’s New with Post-Closing Disputes”, Deloitte webinar and related article, November 2016
• “Advanced Trial Techniques”, Instructor, District of Columbia Bar Association Continuing Legal Education (CLE) Program, May 2012
• “Recent Developments and Lessons Learned in Acquisition-Related Disputes”, Practising Law Institute Expert Insights Webinar, May 2011
• “Direct Examination of Expert Witnesses”, Panelist, Edward Bennett Williams American Inn of Court, January 2011
• “Lessons Learned from the Recent Past”, Panelist on internal investigations, Georgetown Law Corporate Counsel Institute, March 2010
• “The Role of Independent Monitors”, Panelist, Edward Bennett Williams American Inn of Court, September 2007
• “Accounting Concepts for Health Plan Lawyers”, Presenter, Blue Cross Blue Shield Association, 38th Annual Lawyers Conference, May 2004
• “Accounting Concepts for Health Care Lawyers”, American Health Lawyers Association, Hospitals and Health System Law Institute, March 2004
• “Accounting Concepts for Lawyers”, Instructor, District of Columbia Bar Association CLE Program, 2002–2007

• Member, Audit Committee of the American Psychological Association
• Member, Economic Club of Washington
• Board Member, DC Appleseed Center for Law and Justice

Volunteer Experience

• Pro Bono Volunteer, DC Appleseed Center for Law and Justice
• Mentor for Scholarship Recipients, Economic Club of Washington

• BS, Accountancy, West Chester University, USA
• Certified Public Accountant (CPA), Maryland & District of Columbia
• Certified in Financial Forensics (CFF)
• Certified Fraud Examiner (CFE)

Language

• English (native)