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Damages - Contemporary Issues and legal developments

Issues:
Steven Gee QC: RECENT LEGAL DEVELOPMENTS

Nicholas King: CALCULATING TIME CHARTER DAMAGES
Damages for loss of charter earnings can stretch over many years of a cancelled charter party. Nicholas will explain how to calculate a single sum to reflect the present value of complex losses including lost income and saved expenditure. He will explain the workings of a Discounted Cash Flow calculation and the key constituent elements it contains.

This will cover:
• The basic t/c damages calculation
• Adjustments - Off hire / Brokerage
• Kildare - accelerated receipt
• Flat v Annual rates
• Discounted Cash Flow Principles
• Discount Factors
• Present values = Damages

Peter Daniel: VALUE
Peter will review different concepts of “Value” such as Market Value, Fair Value and Special Purchasers and how each of these are relevant to measuring loss and damages. He will consider the significance of the date of valuation, market movements and the impact of recent economic trends on values.

This will cover:
• Alternative concepts of Value and what is meant by them;
• Marketable –v- single purpose assets;
• The significance of the valuation date and dates relevant to the legal process;
• The conceptual basis for market movements and changes in values;
• Recent economic trends and their impact on values.

Date: 12/11/2013
Chair:

Vasanti Selvaratnam QC - Stone Chambers

Panellists:

Steven Gee QC - Stone Chambers
Nicholas King - Moore Stephens LLP
Peter Daniel - Fairlead Forensic Accounting

Venue:

Moore Stephens
150 Aldersgate Street
London
EC1A 4AB

Time:

6.00pm - 8.00pm

CPD Points:

This event is accredited for 2 CPD points

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