About
Eduard Saura is a partner at Accuracy and a recognised testifying expert in international arbitration. He focuses on damages, valuation and financial-economic analysis in investment treaty and commercial disputes.
With more than 30 years of experience in financial, economic and regulatory matters, Eduard has provided written and oral expert testimony in more than 40 arbitration cases, as well as in high-profile litigation matters before local courts. His work covers damages arising from regulatory measures, changes in economic incentives, M&A disputes, contract termination claims, IP infringements, fraud-related matters and other complex business disputes.
Eduard’s expert work is informed by extensive advisory experience in transactions, business planning, restructuring and strategic decision-making. He speaks Spanish, English, French, Portuguese and Catalan.
Qualifications
- DESS (Master’s degree) in Finance and Capital Markets, Institut d’Etudes Politiques Paris, 1995
- Economics, University of Barcelona, 1993
Rankings
In-depth expertise
Eduard regularly provides expert evidence in investment treaty disputes involving regulatory measures, changes in economic incentives, alleged expropriatory conduct and other government measures affecting investors’ economic expectations. His work often includes the assessment of causation, counterfactual financial performance, business plans, valuation, lost profits and the economic consequences of disputed conduct.
In commercial arbitration, Eduard is frequently appointed to quantify damages in M&A disputes, contract termination claims, IP infringements, fraud-related matters, shareholder and joint venture disputes, long-term contracts and other complex business disputes. His opinions are informed by a practical understanding of how companies assess risk, allocate capital and make commercial decisions.
Eduard began his career in the finance department of Schlumberger before joining Arthur Andersen in Paris, where he carried out audit and due diligence engagements for major French corporations and international private equity firms across a broad range of sectors.
As a testifying expert, Eduard has participated in high-stakes arbitrations under ICSID, ICC, LCIA, SCC and ICDR/AAA rules, in both common-law and civil-law contexts. His work has focused particularly on energy, infrastructure, financial services, telecommunications, technology, manufacturing and other regulated sectors.
Eduard is recognised by Lexology as a leading expert witness in international arbitration and consulting experts.
Example of engagements
Due diligence and valuation
- Buy-side financial due diligence for a private equity firm on one of the leading parking facilities companies in Europe
- Sell-side due diligence on 20 shopping centres in Spain sold by a French REITs company to a large French MNC retailer.
- Buy-side due diligence on a leading manufacturer of wind turbines.
- Fairness opinion on the value of a portfolio of wind assets owned by a Spanish private equity firm.
Damage assessment
- Appointed expert by a Spanish construction company following the termination of the construction contract for an airport runway in Asia.
- Appointed by the Kingdom of Spain in various ICSID and SCC disputes related to the change in regulations regarding the renewable energy sector. Prepared regulatory and quantum reports.
- Appointed independent expert regarding the investment arbitration between Chile against a philantopic foundation following a breach of the Spanish – Chile BIT.
- Appointed independent expert by a water and wastewater treatment company in an ICSID case against the a South American country.
- Appointed by two European countries to provide an independent analysis on the price evolution of certain raw materials used in a railway construction under concession (ad-hoc arbitration).
- Appointed expert by the claimant (a Tobacco distributor) against a manufacturer following the termination of the distribution contract.
Other
- Review of the financial reliability of several joint ventures in the Oil & Gas industry for majors oil companies and NOCs.
- Transfer pricing assessment on various Real Estate companies in Spain for tier-1 international Private Equity funds.