Economics and financial valuation analysis is becoming increasingly instrumental in resolving commercial and competition-related disputes. Insights from economists today often produce profound and sometimes unexpected conclusions.
Oxera has a reputation for delivering compelling and robust analysis to help resolve our clients’ disputes. We use our detailed knowledge of sectors and our extensive expertise in financial valuation and damages quantification to support cases.
We work with leading law firms and barristers’ chambers and have testified in many courts, including the High Court in London, the ICC in Paris, and the PCA in The Hague.
‘‘What do clients want from us? Someone who can credibly support their case with evidence in the hearing.’’
In this Q&A, Oxera economic experts discuss the success stories and key issues our clients face in litigation
Click here to read the article.

The skills we apply

Oxera combines financial and economics skills with long-standing experience in many sectors. We carry out the most robust valuation and modelling and prepare clear and accessible reports.

Our experts look for the most effective approach and deliver convincing and robust testimony before the courts and arbitral panels.

We have also run training courses for judges in the EU on economic issues.

Our expertise and experience

Economic thinking and financial valuation

Economists are trained to think systematically and coherently to identify the relationships between factors that are at play. Our arguments are always supported by evidence and the use of the latest sophisticated models and analytical approaches.

Testifying experience

With economics and financial valuation analysis becoming increasingly instrumental in dispute resolution, Oxera has been involved in many cases. Our experts have testified before the London High Court, the Permanent Court of Arbitration in The Hague, the London Court of International Arbitration, the International Chamber of Commerce in Paris, and the Australian Federal Court.

Delivering compelling analyses

We have been advising companies, policymakers, regulators and lawyers on economic issues connected with competition, finance, and regulation for more than three decades. We have a reputation for credibility and integrity among those we advise and among policymakers, regulators, and courts.

Sectoral experience

We combine our financial and economics skills with Oxera’s long-standing experience in key sectors including energy, financial services, high-tech, retail, telecoms, transport, and water.

Collaborative working

Our expertise, knowledge, and insight come from many sources, ranging from our international expert consultants to our wider network of academic and industry associates. We seek out a wide cross-section of people to work for us and with us who will lead to more innovative insight.

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Oxera Litigation

Samsung vs Ericsson

Client: Samsung
Type: Litigation
Venue: High Court of Justice in London

Client: Samsung

Type: Litigation

Venue: High Court of Justice in London

Dr Helen Jenkins gave an expert testimony on behalf of Samsung in a dispute with Ericsson over licensing of patents.

We developed a framework for assessing whether the level of royalty rates one party was demanding were consistent with fair, reasonable and non–discriminatory (FRAND) terms.

We also established the relevant economic market for intellectual property rights and analysed whether licensing strategies of one party were inappropriate when it came to competition policy. The case went to the High Court of Justice, where we gave expert testimony.

Nokia vs Hitachi, LG, Samsung, Sharp, Toshiba et al.

Client: Nokia
Type: Litigation
Issue: Cartel follow-on damages
Venue: US District Court Northern District of California San Francisco Division

Client: Nokia

Type: Litigation

Issue: Cartel follow-on damages

Venue: US District Court Northern District of California San Francisco Division

Oxera advised Nokia on a large damages claim in the USA and the UK relating to a global LCD cartel.

Using sophisticated econometric methods, we calculated the value of commerce for the claim and estimated the cartel overcharge. In doing our work, we established a precedent for relying on imputation methods to substantiate purchases-related missing invoices. We also assessed the pass-on rates for the UK proceedings.

Dr Helen Jenkins prepared multiple expert reports and attended several depositions on this matter. Her evidence formed a key part of Nokia’s strategy in settlement discussion with the defendants. Nokia has since reached favourable settlements with almost all defendants, including an $80m agreement with Seiko-Epson.

EDF International vs the Republic of Hungary

Client: EDF International
Type: International arbitration
Issue: Breach of Energy Charter Treaty
Venue: Permanent Court of Arbitration in The Hague

Client: EDF International

Type: International arbitration

Issue: Breach of Energy Charter Treaty

Venue: Permanent Court of Arbitration in The Hague

Oxera acted as the quantum experts on behalf of Electricité de France International (EDFI) in a claim against the Republic of Hungary brought under the Energy Charter Treaty in the Permanent Court of Arbitration.

The claim followed from Hungary’s decision in 2009 to prematurely terminate Power Purchase Agreements (PPAs) it had signed with EDFI’s generating asset in Hungary without sufficient compensation to EDFI. PPAs were introduced when Hungary’s electricity/heat generation industry was privatised in the 1990s as an alternative to providing regulatory certainty for potential investors (i.e. through contractual agreements).

The arbitration process commenced in May 2009 and Oxera began working on the case in late 2011. Jostein Kristensen, Partner and Professor Stephen Schaefer, Oxera Associate, submitted two expert reports and gave testimony in The Hague in December 2013. In December 2014, the Tribunal awarded EDFI the original claimed amount of €107m.