Contact Us

Author: Eric Krawetz

Nuclear renaissance – avoiding new generation reactor construction issues

Article

Nuclear renaissance – avoiding new generation reactor construction issues

4th March 2025

Kim Reome

Partner

kimreome@hka.com

Expert Profile

This article was first published in Commercial Dispute Resolution Magazine.

After decades of stagnation and decline, nuclear power is resurgent. The outlook for the industry is being transformed by climate change policies, shifting energy priorities and technological advances. But delivery of a new generation of nuclear facilities could be compromised unless lessons are learned from past projects and the nuclear sector’s endemic cost and schedule overruns.

The International Energy Agency (IEA) predicts 2025 will mark an all-time high for nuclear power generation as output increases in France, Japanese plants start up again after the pause following the 2011 Fukushima disaster, and commercial reactors begin operations in many markets, including Europe, China, India, and Korea.[1]https://www.iea.org/news/clean-sources-of-generation-are-set-to-cover-all-of-the-world-s-additional-electricity-demand-over-the-next-three-years

In the US too new output is coming online. The first new-builds in 30 years – Vogtle 3 and 4 in Georgia – have entered commercial service. The Palisades plant in Michigan is scheduled to come back online this year after a $2 billion upgrade following its closure in 2022.[2]https://www.energy.gov/ne/articles/11-big-wins-nuclear-energy-2024

The US and other governments are supporting this nuclear comeback to meet increased electricity demand and climate goals. Although the new Trump administration has already made moves to drop other low-carbon policy initiatives and funding, nuclear plant licences have been extended, and nuclear projects usually command bipartisan support.[3]https://www.cruxinvestor.com/posts/the-nuclear-renaissance-why-investors-should-pay-attention

Elsewhere (and in some American states), climate policies will drive nuclear expansion. Nuclear energy must make a growing contribution – alongside renewables – if the world is to decarbonize electricity generation. In December 2023, more than 20 countries from four continents at the COP28 climate action summit in Dubai signed a declaration to triple nuclear capacity to achieve global net zero by 2050.[4]https://www.energy.gov/articles/cop28-countries-launch-declaration-triple-nuclear-energy-capacity-2050-recognizing-key

The European Union has given nuclear power the ‘green’ light for funding to promote sustainability.[5]https://www.spglobal.com/en/research-insights/special-reports/is-europe-ready-for-a-nuclear-renaissanceThe transition to clean energy is also enabling China – which plans to double its nuclear capacity by 2030 – to reduce air pollution from coal-powered plants in major cities. Other Asian countries face similar challenges.

As coal is phased out, wind and solar power have become a bigger source of energy, but renewable energy is intermittent in the absence of large-scale battery storage. Nuclear can provide a reliable baseload supply. Having nuclear in the mix can also protect a nation’s energy security. Russia’s invasion of Ukraine highlighted Europe’s dependence on imported fossil fuels.

Meanwhile, the electrification of transport and other industries, and the expansion of data centres running power-hungry AI is stoking demand. In 2024, the International Energy Agency (IEA) reported that electricity consumption by data centres, AI and the cryptocurrency sector could double by 2026. Electrification needs to accelerate rapidly on the IEA’s pathway for net zero by 2050. Electricity’s share in final energy consumption, which was up from 18% in 2015 to 20% in 2023, would approach 30% in 2030.[6]https://www.iea.org/reports/electricity-2024/executive-summary

Big Tech as well as some other industrial users and governments are willing to pay a premium for secure, low-carbon power. In the US, Amazon, Google, and Microsoft have struck high-value purchase agreements with nuclear generators. The energy will be supplied by a mixture of currently operating and recommissioned plants and a new generation of small modular reactors (SMRs).[7]https://spectrum.ieee.org/nuclear-powered-data-center

Microsoft’s 20-year contract (with Constellation, America’s largest nuclear operator) will help restart a mothballed reactor at Three Mile Island in Pennsylvania. The facility is expected to produce 835 megawatts of power to offset Microsoft’s data centre electricity needs.[8]https://www.reuters.com/business/energy/constellation-orders-100-million-transformer-three-mile-island-restart-2024-10-16/Amazon and Google are also investing in start-ups developing SMRs,[9]https://x-energy.com/media/news-releases/amazon-invests-in-x-energy-to-support-advanced-small-modular-nuclear-reactors-and-expand-carbon-free-power; … Continue reading while Meta has released requests for proposals from providers of 1-4 gigawatts of nuclear generation capacity to power data centres needed for AI.

SMRs – small, modular and repeatable?

With outputs up to 300 megawatts, SMRs promise a more flexible and affordable nuclear option for supplanting fossil fuel power stations. Conventional larger-scale nuclear reactors can be challenged by their upfront capital costs and construction timelines. Some are projecting that building SMRs could take less than half the construction time for large reactors.[10]https://www.idtechex.com/en/research-article/how-long-until-small-modular-reactors-make-an-impact-on-energy-grids/29549 Manufacturing modules in controlled factory settings may increase efficiency and assure quality. Modular designs also allow capacity to be increased incrementally, further reducing financing risk.

Apart from American SMR-powered nuclear submarines, the first SMR units are already operating in China and Russia. As with solar and wind technology, China gained an advantage on the West in SMR nuclear technology, while Russia leads in SMR fuel production. The US government and companies have been investing in SMR technology to catch up.[11]https://edition.cnn.com/2024/02/01/climate/nuclear-small-modular-reactors-us-russia-china-climate-solution-intl/index.html

Other countries – including Canada and the UK – are also backing SMR technology and its export potential.[12]https://world-nuclear.org/information-library/nuclear-fuel-cycle/nuclear-power-reactors/small-nuclear-power-reactors Some years away from commercial scale, there are said to be more than 80 SMR designs using diverse technologies at different stages of development globally.[13]https://www.iaea.org/newscenter/news/what-are-small-modular-reactors-smrs Demonstration projects later this decade could pave the way for a rollout of commercial SMR fleets beginning in the 2030s.[14]https://www.idtechex.com/en/research-article/how-long-until-small-modular-reactors-make-an-impact-on-energy-grids/29549

Champions of SMRs believe that their smaller scale and simpler designs should allow standardization and cost-effective manufacturing and assembly. This product-based approach – modelled on ‘shipyard’ production – could improve cost and schedule performance.[15]6 The Challenge of Project Management and Construction | Laying the Foundation for New and Advanced Nuclear Reactors in the United States | The National Academies Press

The case for caution in nuclear construction

Our global experience of major nuclear engineering and construction projects – and other sectors (including shipbuilding) – teaches caution.

Early SMRs will be first-of-a-kind projects with the associated risks and uncertainties that entails. In 2023 the first planned SMR in the US was cancelled due to rising construction costs and an electricity price uncompetitive with wind and solar.[16]https://spectrum.ieee.org/small-modular-reactors-nuscale Costs and delays could arise as the industry adapts to new designs and processes. This may also apply to the new generation of ‘advanced nuclear reactors’ using futuristic technologies (that some SMRs may leverage), such as molten salt, high-temperature gas cooling and sodium cooling, and travelling wave designs.[17]https://www.cruxinvestor.com/posts/the-nuclear-renaissance-why-investors-should-pay-attention

Also, shorter SMR construction schedules do not guarantee programme certainty. Building a downsized reactor is still a complex capital project. Units should be easier to deploy – on brownfield sites of retired coal-fired plants, for example, or off-grid to provide power or heat to industry. Every location has unique features that can challenge contractors, however.

HKA’s integrated research programme CRUX, which analyses the incidence and causes of claims and disputes, confirms the comparatively poor record of nuclear projects. Over the seven-year timeframe to 2024, disputed costs averaged 62.8% of budgeted capital expenditure on 27 nuclear projects in seven countries. This was notably higher than for power stations fuelled by fossil fuels (74 projects in total, in 32 countries), which faced overruns of 40.7%.

The extensions of time claimed by contractors were highest on European nuclear projects – averaging 74% of planned schedules, and three times longer than in the Middle East (the region with the longest overruns for all infrastructure and capital projects).[18]CRUX data for time extensions on US nuclear projects is not cited here as it includes claims for the additional costs of storing spent nuclear due to breach of contract over the federal … Continue reading

Resultant distress may be higher, but most of the main causes of claims and disputes on nuclear projects are shared with other types of construction projects. Change in scope, the primary and near-universal driver of conflict in construction, was nearly twice as likely to affect nuclear projects (34.5%) as fossil power stations.

Another, related cause was late design information (24.1%). Immature designs not only make conflicts and delays during construction more likely, they also make it difficult to verify cost estimates and schedules. Optimism bias is by no means unique to the nuclear sector, but unrealistic budgets and schedules and the significant overruns that result can derail projects.[19]National Academies of Sciences, Engineering, and Medicine. 2023. Laying the Foundation for New and Advanced Nuclear Reactors in the United States.

Learning the lessons of past failures

Costs have ballooned on EPC (engineering, procurement and construction) contracts for nuclear plant projects around the world. This has often arisen from the civil (non-nuclear) construction element, according to a 2023 US National Academy of Sciences (NAS) report on new nuclear construction.[20]National Academies of Sciences, Engineering, and Medicine. 2023. Laying the Foundation for New and Advanced Nuclear Reactors in the United States. Global in scope, the report also noted that past studies had cited ‘negative learning for nuclear.’

It is no surprise that most recurrent causes of conflict across the CRUX database of 2,000 projects are also prominent in the nuclear sector. Poor management of subcontractors and their interfaces affected almost one in four nuclear projects (24.1%); and clashes over contract interpretation even more (27.6%).

Alleged bias or failure to cooperate was far more common in nuclear (17.2%) than fossil power (2.9%) projects, perhaps reflecting a greater cultural diversity of project partners, if not sheer complexity.

Part of that complexity arises from the regulatory requirements around nuclear safety. CRUX indicates that nuclear projects were more likely to be affected by late approvals than fossil fuel power stations (20.7% vs. 8.8%) or all non-nuclear power projects

(16.5%). Such delays may be due to the procedures of either/both employers and regulators. Inadequate responses to information requests were also notably more common in the nuclear sector than in the power sector as a whole (20.7% vs. 8.1%). However, poor interface management with third parties was blamed for disputes on a slightly smaller proportion of nuclear than non-nuclear power projects (10.3% vs. 13.2%).

Some argue skills shortages are to be expected in an industry that has been stagnant for many years. The IEA identified investment in human capital as a priority for countries committing to nuclear growth. Utilities have generally not retained the staff needed to execute large nuclear projects. Many megaproject owners rely on outsourced technical expertise, and lack the capacity to oversee projects (which is not unique to the nuclear industry).[21]National Academies of Sciences, Engineering, and Medicine. 2023. Laying the Foundation for New and Advanced Nuclear Reactors in the United States. Much of the global construction industry suffers from skills gaps and problems with workmanship. The US, for example, has a shortfall in mechanical and electrical engineering talent, as well as critical trades such as welding.

More proactive reactor construction

As much as $1.5 trillion could be invested in the nuclear renaissance through to 2050,[22]https://www.morganstanley.com/ideas/nuclear-energy-investment-outlook-2050 but the scale and unpredictability of construction costs remain a major obstacle. Citing past cost and schedule overruns, an investment analysis of the European nuclear market calls for new frameworks to mitigate the construction risks and attract capital.[23]https://www.spglobal.com/en/research-insights/special-reports/is-europe-ready-for-a-nuclear-renaissance

Our CRUX research and some of the other evidence explored here point to some essential guardrails for new-build nuclear projects.

At the outset, challenge sessions and war gaming can help crystallize the risks and choices for investors, promoters and other stakeholders. Independent checks of cost estimates and schedules by industry experts can mitigate optimism bias. The earlier the design is completed on a project, the fewer associated delays are likely to be encountered, and the greater chance the project will be delivered on time and budget.

A proactive approach by project employers and fairly balanced allocation of risks among the parties will improve risk management and foster more productive working relationships with EPC contractors. Intelligent use of BIM (building information modelling) can enhance coordination and construction management. The potential benefits over the life cycle of both the project and operations may justify the creation of digital twins. During construction, comprehensive risk registers and robust project controls remain essential to keep projects on track.

Notwithstanding new funding models, most nuclear projects worldwide rely on some level of government support – not only financial, but also to address skills shortages and regulatory risk. In the US, for example, the 2022 CHIPS and Science Act recognised the need to fund the training of a new generation of nuclear engineers and fill gaps in other project-critical professions and trades.

Meanwhile, project teams can tailor design processes to align with regulation so that approvals overlap with design progress to minimise hold-ups. The ability to replicate proven SMRs should ease this regulatory burden. International efforts to streamline and harmonise design certification are also encouraging.[24]https://world-nuclear.org/information-library/nuclear-fuel-cycle/nuclear-power-reactors/advanced-nuclear-power-reactors

At the project level, a proactive approach to engineering and construction will be needed to mitigate risk and avoid past pitfalls, enabling cost-effective delivery of the nuclear renaissance.

About the author

Kim Reome is a specialist in damages analysis in the construction and electric utility industries with over 30 years’ experience. An HKA partner, based in Chicago, she has undertaken more than 40 expert commissions in matters relating to construction damages and delay, quantum, forensic accounting, and commercial damages.

Kim has supported clients from a broad range of sectors including nuclear and other electric power plants and renewable energy, as well as diverse industries ranging from residential and commercial real estate to oil, mining and wastewater treatment. 

A Certified Construction Industry Financial Professional and a Certified Fraud Examiner, Kim has acted as an expert for disputed projects on matters in excess of $8 billion.

References

References
↑1 https://www.iea.org/news/clean-sources-of-generation-are-set-to-cover-all-of-the-world-s-additional-electricity-demand-over-the-next-three-years
↑2 https://www.energy.gov/ne/articles/11-big-wins-nuclear-energy-2024
↑3 https://www.cruxinvestor.com/posts/the-nuclear-renaissance-why-investors-should-pay-attention
↑4 https://www.energy.gov/articles/cop28-countries-launch-declaration-triple-nuclear-energy-capacity-2050-recognizing-key
↑5 https://www.spglobal.com/en/research-insights/special-reports/is-europe-ready-for-a-nuclear-renaissance
↑6 https://www.iea.org/reports/electricity-2024/executive-summary
↑7 https://spectrum.ieee.org/nuclear-powered-data-center
↑8 https://www.reuters.com/business/energy/constellation-orders-100-million-transformer-three-mile-island-restart-2024-10-16/
↑9 https://x-energy.com/media/news-releases/amazon-invests-in-x-energy-to-support-advanced-small-modular-nuclear-reactors-and-expand-carbon-free-power; https://spectrum.ieee.org/nuclear-powered-data-center; https://sustainability.atmeta.com/blog/2024/12/03/accelerating-the-next-wave-of-nuclear-to-power-ai-innovation/
↑10 https://www.idtechex.com/en/research-article/how-long-until-small-modular-reactors-make-an-impact-on-energy-grids/29549
↑11 https://edition.cnn.com/2024/02/01/climate/nuclear-small-modular-reactors-us-russia-china-climate-solution-intl/index.html
↑12 https://world-nuclear.org/information-library/nuclear-fuel-cycle/nuclear-power-reactors/small-nuclear-power-reactors
↑13 https://www.iaea.org/newscenter/news/what-are-small-modular-reactors-smrs
↑14 https://www.idtechex.com/en/research-article/how-long-until-small-modular-reactors-make-an-impact-on-energy-grids/29549
↑15 6 The Challenge of Project Management and Construction | Laying the Foundation for New and Advanced Nuclear Reactors in the United States | The National Academies Press
↑16 https://spectrum.ieee.org/small-modular-reactors-nuscale
↑17 https://www.cruxinvestor.com/posts/the-nuclear-renaissance-why-investors-should-pay-attention
↑18 CRUX data for time extensions on US nuclear projects is not cited here as it includes claims for the additional costs of storing spent nuclear due to breach of contract over the federal government’s failure to provide a central storage facility.
↑19 National Academies of Sciences, Engineering, and Medicine. 2023. Laying the Foundation for New and Advanced Nuclear Reactors in the United States.
↑20 National Academies of Sciences, Engineering, and Medicine. 2023. Laying the Foundation for New and Advanced Nuclear Reactors in the United States.
↑21 National Academies of Sciences, Engineering, and Medicine. 2023. Laying the Foundation for New and Advanced Nuclear Reactors in the United States.
↑22 https://www.morganstanley.com/ideas/nuclear-energy-investment-outlook-2050
↑23 https://www.spglobal.com/en/research-insights/special-reports/is-europe-ready-for-a-nuclear-renaissance
↑24 https://world-nuclear.org/information-library/nuclear-fuel-cycle/nuclear-power-reactors/advanced-nuclear-power-reactors

A conversation with Rebecca Vélez, Partner

Colleague Interview

A conversation with Rebecca Vélez, Partner

12th February 2025

Rebecca Vélez is a Forensic Accounting and Commercial Damages Partner in our Washington, DC office. She has an MBA in Finance and Strategic Management Consulting with over 20 years of experience in damages calculations in both commercial disputes and international arbitrations. Rebecca loves the variability of her work and has testified in both English and Spanish.

We spoke to her about her background, her career, and what she enjoys about her work.

Tell me about your background.

I was born in New York and moved to Puerto Rico – where all my family is from – when I was seven. I stayed in Puerto Rico through the end of high school and came back to the United States for college. I attended Georgetown University, after which I worked at PwC and subsequently pursued a graduate degree at Indiana University.

After I completed my graduate studies, I joined Huron Consulting and worked there for seven years until the disputes practice was sold to Grant Thornton. I went with the sale, but stayed at Grant Thornton for less than a year. I then moved to Credibility International, which was founded when the Huron practice dissipated. I was at Credibility from August 2011 until HKA acquired the company in May 2023.

What attracted you to your specialty?

When I finished my undergraduate work, I did not know whether I wanted to go to business school or law school. I learned about litigation consulting and thought it was a great fit because it would allow me to experience both paths to a certain degree. I was able to crunch the numbers and still work with attorneys a lot of the time. I decided to stay on the numbers side, so I pursued my MBA, after which I returned to the same field because I enjoyed the legal side of the cases as well.

What do you love about the field you work in?

I love that every project I work on is different. While the underlying analysis may be similar, the fact set for each case varies greatly. The fact that I am not industry-specific obviously comes into play here, and I believe I learn something new with each engagement I work on.

What is your favorite thing about supporting clients?

For international arbitrations, it’s at the end of the hearing. There is usually a debriefing, and it’s great to hear how the client feels after you have submitted your reports and provided testimony. Some clients get emotional, and it feels good to have contributed to their reaction.

Is this career path what you had originally set out to do? As a teenager, what did you want your career to look like?

No! I wanted to be an aerospace engineer and maybe even an astronaut. I went to Space Camp twice when I was a kid. I applied to Embry-Riddle, an aeronautical school, but once I learned about the restrictions I would have due to my horrible eyesight – which was so bad that I was classified as legally blind – I decided to do something more ordinary. I am unsure if that was the right decision since my eyesight has somewhat corrected with age, and contacts have come a long way. I could have done it!

What is something about you that might surprise people?

I am Puerto Rican, but I don’t like coffee, not even the smell of it!

If you would like to find out more about joining HKA,
visit our careers page.


Welcome to our new colleagues – November and December 2024

News

Welcome to our new colleagues – November and December 2024

29th January 2025

In November and December 2024, we welcomed 27 new colleagues to our global team.

This included strengthening our team in the Construction, Claims and Expert Services department, including Partners Stephen Rae, Richard Edwin and Chris Clark and in Forensic Accounting and Commercial Damages, including Partners Joseph Spinelli, Scott Wright and Patrick Westerhaus.

We’re always looking to expand our team; please take a look at our current vacancies to see our latest opportunities.

Fatema Almazrouei
Analyst | Construction, Claims and Expert Services
Abu Dhabi, United Arab Emirates

Fatema recently graduated with a Bachelor’s degree in Aerospace Engineering and Artificial Intelligence from Khalifa University in Abu Dhabi. Her interdisciplinary knowledge empowers Fatema with a unique blend of skills, allowing her to approach engineering challenges with a holistic and innovative perspective. As well as being excited to start her working career with HKA, Fatema is also currently pursuing a master’s in engineering systems and management. Outside of work, Fatema enjoys travelling and reading.

Dhruv Bhavsar
Associate Director | Advisory
Sydney, Australia

Dhruv joins the Advisory team as an Associate Director and is based in the Sydney office.

Dhruv is a results-driven Project Management Professional with 15 years of expertise in digitalised project management across rail systems, tunnel-viaduct construction, high-rise buildings, and major infrastructure. He has a proven ability to manage complex projects, leveraging digital tools and Power BI for enhanced performance. He is adept at leading diverse teams, strategic planning, and stakeholder engagement. He is skilled in Primavera (P6), project controls, claims management, scheduling, and risk analysis.

Eloi Bourgin
Associate Director | Forensic Accounting & Commercial Damages
Paris, France

Eloi has over eight years of experience in corporate finance and economic consulting.  He holds a masters in Corporate Finance from the NEOMA Business School in Rouen.

His experience includes working on and managing a wide range of projects, notably in international arbitration, across sectors including energy, construction, mining, and hospitality. He has also worked on financial due diligence, state-aid, and economic regulation projects.

He is a native French speaker but fluent in English and has Spanish speaking capabilities. In his free time, he enjoys cycling, playing padel, tennis, and football, and listening to disco music.

Jon Chan
Director | Construction, Claims and Expert Services
London, UK

Jon Chan is a Chartered Engineer with over a decade of experience in the design, procurement, and management of engineering and construction projects across Europe, the UK, the Middle East, Mexico, and West Africa. Beginning his career as a Structural Engineer in the energy sector, Jon advanced to construction management on major EPCI projects worldwide. His extensive on-site experience includes the construction of offshore structures and pipelines in Porto Amboim, Angola, where he oversaw planning, fabrication, coating, inspection, testing, and offshore transportation of oil and gas structures.

Jon’s technical expertise is further enriched by consulting work, with a firm foundation in structural analysis and design of offshore sub-sea structures and pipelines. Jon is skilled in the analysis of delay, identification of the critical path, and independently managing complex engagements from start to finish, including supporting legal teams and counsel during arbitration hearings.

Belinda Clark
Senior Data Analyst | IT
London, UK

Belinda initially studied to be a biologist, graduating with an BA in Natural Sciences focussing on Zoology and Evolutionary Genetics from the University of Cambridge but has since transitioned into the world of data.

She has spent the last four years specialising in advanced data analytics, insights, and reporting, particularly using Power BI, Excel, and R. She also brings expertise in modelling, statistical analytics, and dashboarding.

Outside of work, Belinda plays violin in her local symphony orchestra and enjoys travelling, cooking, strength training, and watching live music and sport.

Chris Clark
Partner | Construction, Claims and Expert Services
Perth, Australia

Chris Clark is a Chartered Civil Engineer with over 30 years of experience in construction contracting and consulting. Chris has gained experience with major contractors on large engineering and infrastructure projects including energy, airport, road and rail.

As a consultant, Chris has provided expert witness and advisory services on a wide range of complex construction and engineering projects including public buildings, high-rise/mixed-use developments, energy (thermal and renewables), transport infrastructure (road, rail, and airport), mining infrastructure, process plant, utilities, and oil and gas. Chris’ field of expertise is in project planning and the analysis of delay and dealing with issues of prolongation costs, disruption, EOT entitlement, and concurrent delay. Chris’ expertise has also been recognised by Lexology Index (formerly Who’s Who Legal) as a leading expert in the field of construction delay.

Tim Cradock
Principal | Construction, Claims and Expert Services
Hong Kong SAR, China

Tim Cradock is a Chartered Quantity Surveyor with over 20 years of experience. He has been appointed as a quantum expert on six occasions and has assisted the named expert multiple times.

Tim specialises in the assessment of acceleration, prolongation, variations, and disruption matters. He also supports clients and legal counsel as an expert advisor for a variety of international disputes and provides support to testifying experts during alternative dispute resolution (ADR) proceedings.

Tim holds a master’s in construction management and construction law. He is a fellow of the Chartered Institute of Arbitrators and the Royal Institute of Chartered Surveyors, a member of the Institute of Civil Engineering Surveyors, an associate member of The Academy of Experts, and a council member of the Society of Construction Law (Hong Kong). 

Scott Darroch
Senior Consultant | Construction, Claims and Expert Services
Glasgow, UK

Scott holds an MSc in Construction Economics, and has developed excellent experience over 14 years working for a large international consultancy, two main contractors, and three major clients in the Power, Water and Aviation sectors based in the UK. Scott has extensive experience in developing, presenting, and negotiating claims and working through complex escalated & disputed matters with Clients, Contractors, and Subcontractors across a range of Contracts, including NEC, SBCC, FIDIC, and bespoke framework Contracts. 

Scott is a member of the Chartered Institute of Civil Engineering Surveyors (CICES) and recently achieved Associate Status With the Chartered Institute of Arbitrators (CIArb).

Chet Dominik
Director | Forensic Accounting & Commercial Damages
Chicago, IL, USA

Chet Dominik joins HKA’s Chicago office as a Director in the Expert Services practice.  Mr. Dominik has over 16 years’ experience as an intellectual property consultant with a focus on financial analysis in support of damages as well as the economic prong of domestic industry at the International Trade Commission (ITC).  Mr. Dominik holds an MBA from the University of Chicago as well as a Masters in Aerospace Engineering from the Georgia Institute of Technology (Georgia Tech).

Richard Edwin
Partner | Construction, Claims and Expert Services
Dubai, United Arab Emirates

Richard Edwin is a Chartered Civil Engineer with over 40 years’ experience as a programme and construction professional. He has been appointed on over 60 occasions to provide independent programming and delay advice and expert witness services to clients, assisting them to resolve their complex construction, process, rail, oil and gas and offshore disputes. 

Richard is adept at providing independent expert witness opinion in formal proceedings, presenting both written and oral evidence. He has also participated as a witness in international arbitration and Dispute Arbitration Board (DAB) hearings. His renowned meticulous approach to producing detailed, fact-based, and insightful analysis and opinion ensures disputes are concluded in a timely, efficient, and cost-effective way.  

With over 25 years working in dispute resolution, risk management, design and engineering, procurement and construction management, Richard is highly regarded by clients for his comprehensive, accessible and incredibly thorough reports, and for securing successful project outcomes. He has worked across a wide range of sectors, including but not limited to, major road, rail, and airport infrastructure, energy and natural resources, and residential and commercial builds. 

Robert Feng
Senior Engineer | Forensic Technical Services
Sydney, Australia

Robert Feng joins HKA as a Senior Engineer in the Forensic Technical Services team and is based in Sydney, Australia. Robert is a highly skilled Chartered Structural Engineer with a comprehensive 10-year track record spanning multiple sectors, including infrastructure, residential and commercial buildings, sports venues, data centres, and airports.

Robert excels at delivering structural engineering solutions for complex challenges. His expertise goes beyond executing high-quality designs; he also provides subject matter expert advice to interdisciplinary teams and has a proven record in reviewing and enhancing designs for new, high-risk assets, ensuring compliance with relevant standards and specifications

Manuela Gfrörer
Senior Managing Consultant | Forensic Accounting & Commercial Damages
Madrid, Spain

Manuela is a chartered accountant with over nine years of experience in advising clients on damages in international arbitrations, focusing on accounting-related topics, and in forensic investigations.

A German national, Manuela is fluent in German, English, Spanish and French and has good skills in Italian and earned a bachelor’s degree in International cultural and business studies from the University of Passau, and a German-French Master’s degree in international business from the University of Eichstatt-Ingolstadt and Tolouse Business School.

Manuela joins HKA from Alvarez & Marsal (Mexico and Germany), where she was a Senior Manager in the Munich office (for seven years) and in the Mexico City office (for two years). Her assignments included not only disputes and investigations but also cases in asset management and restructuring. Outside of work Manuela enjoys dancing salsa, travelling, hiking and playing the violin.

 

Isabela Gonzalez
Associate Consultant | Forensic Accounting & Commercial Damages
Houston, USA

Isabela Gonzalez joins HKA in Houston as an associate consultant in the FACD group. She graduated from Sam Houston State University with a Master of Business Administration and is currently enrolled at the University of Texas at Dallas to obtain her Master of Science in Accounting and Analytics. She recently made a career switch from non-profit to forensic accounting as she is passionate about fraud investigations. She hopes to gain the experience requirement at HKA to obtain the Certified Fraud Examiner credential.

Bellal Hossain
Facilities Assistant
Riyadh, Saudi Arabia

Bellal Hossain joins the Riyadh office as Facilities Assistant.

Bellal holds 19 years of experience in hospitality and brings a wealth of expertise and passion for service excellence. During this time, he has ensured the smooth operation of office activities and provided excellent service in guest services.

Bellal prides himself on being motivated and is dedicated to making a positive contribution to the business.

Samarth Jain
Associate Director | Construction Claims
Calgary, Canada

Samarth Jain has 15 years of experience working in the construction industry in USA, India and Canada where he worked in the areas of process improvement, PMO office and construction claims. 

He has a degree in Construction Management and has joined HKA in the Toronto office as an Associate Director, in the construction claims practice. He is looking forward to developing expert testimony skills with HKA.

Sebastian Lünsmann
Senior Consultant | Construction, Claims and Expert Services
Düsseldorf, Germany

As a Senior Consultant, Sebastian joined our team in the Düsseldorf office. Sebastian studied Business Law at the University of Applied Science in Osnabrück, Germany, where he graduated with a Bachelor of Laws and a Master of Laws. 

During his studies, Sebastian gained professional experience in the insurance industry and in auditing. After graduating, he worked in the legal department of a plastic components business specialising in the pharmaceutical, automotive and horticultural sectors. Previously, he worked as a commercial project manager for a company that built waste-to-energy and sludge incineration plants.

Hassan Majid
Associate Consultant | Forensic Accounting & Commercial Damages
Houston, TX, USA

Hassan recently joined HKA as an Associate Consultant in the Forensic Accounting and Commercial Damages (FACD) group. He holds a degree in Management Information Systems from the University of Houston, where he developed a strong foundation in business analysis, financial modeling, and problem-solving. Hassan is excited to contribute his skills to support clients in navigating complex challenges and is eager to grow within HKA’s collaborative and diverse environment.

Bliss Mosko
Business Support Administrator
Washington, DC, USA

Bliss Mosko is a native Washingtonian and a graduate of DePaul University in Chicago with a degree in Public Relations and Advertising. Some of her interests include yoga, makeup artistry, and spending time with friends and family. She joins the DC Office as their Business Support Administrator and is thrilled about her career at HKA.

Stephen Neilson
Technical Director | Forensic Technical Services
Glasgow, UK

Steve began his career as a Quantity Surveyor in 1993, gaining extensive experience working across the UK, including London, on fast-track turnkey and refurbishment projects. He later oversaw large-scale construction projects and interior contracting in a Principal Contracting role in Scotland. His work spans the entire project lifecycle, from inception to completion, with a strong emphasis on regulatory compliance and minimising legislative risk for clients, including dispute resolution, negotiation, and strategy.

In 2002, he founded the Make It Worksmart Group, where he served as Co-owner and Managing Director for two decades. Under his leadership, the group secured and delivered projects worth over £100 million throughout the UK and Europe, including many award-winning initiatives across diverse market sectors. Steve is actively involved with the FIS, the Finishes & Interior Sector body, serving as Senior Judge and Committee Member for the FIS Scottish Awards. He also sits on the FIS Scottish Awards Committee and conducts Contracting Member Site Vetting and Auditing for the FIS.

With over three decades of hands-on experience in large- and medium-scale interior refurbishments and fit-outs across the UK and Europe, Steve has developed a notable reputation in the UK construction market and extends his expertise to the structural integrity of buildings, with particular focus on fire safety compliance and RAAC issues.

Valikia Newsome
Senior Business Support Administrator
Washington, DC, USA

Valikia Newsome joins HKA as the Senior Business Support Administrator for the DC office. She has an extensive, award-winning background in government media, having worked for both the Federal and District of Columbia Governments. Valikia is a graduate of Temple University, with a B.A. in Media & Communications. She looks forward to employing her broad organizational and relationship building skills to support the growth of HKA’s DC office.

Stephen Rae
Partner | Construction, Claims and Expert Services
Perth, Australia

Stephen Rae, a Chartered Quantity Surveyor with over 40 years of experience in the construction and engineering industries, will take on the role of Construction Claims and Expert Services lead at HKA.

Throughout his career, Stephen has specialised in cost management, change valuation, and forensic quantum and delay analysis services. He provides valuable support to owners, contractors, and legal advisors across a wide range of projects, including commercial developments, hospitals, roads, railways, airports, tunnels, oil and gas projects, and more. Stephen’s expertise has been recognised in the Lexology Insights (Who’s Who Legal) Guide as a leading expert in the field of Construction Quantum and Delay.

Marco Sedra
Lead Consultant | Advisory
Brisbane, Australia

Marco Sedra has joined HKA’s advisory team in the Brisbane office as a lead consultant. He holds a bachelor’s degree in civil engineering and several internationally recognised certificates in project management.

With over 14 years of experience in construction management, Marco specialises in project planning, controls, claims and cost management. He played key roles in delivering large-scale projects of different categories across Egypt, Qatar and Oman. 

In his most recent role, Marco served as Planning and Cost control manager (Client side) for one of the biggest sustainable mixed-use developments in Oman.

Mohammed Shahdab
Billing Analyst | Finance
Riyadh, Saudi Arabia

Mohammed holds an MBA in finance and possesses a total of eight years of corporate experience. During his career, he has worked with Marsh & McLennan Insurance in Dubai as a billing specialist, and at Clyde & Co as a working capital specialist where he held a dual role in billing and credit control.

Mohammed’s achievements during his time at Marsh include migrating processes in the Middle East and Africa region and conducting process testing in UAT. He has also trained offshore teams in India on the billing workflow. Additionally, he implemented new billing strategies to improve cash flow and reduce outstanding receivables. His attention to detail and strong analytical skills have allowed him to effectively manage billing discrepancies and streamline processes for increased efficiency. At Clyde & Co, he assisted partners in the dispute resolution and construction sectors with both billing and credit control. He also collaborated with the finance team to develop financial reports and forecasts for management review.

José Soto
Director | Government Contracts
Washington, DC, USA

José is a compliance and subject matter expert with almost 25 years of experience in government contracting across various industries. His expertise encompasses extensive knowledge of government rules and regulations, including the Federal Acquisition Regulation (FAR), the Defense Federal Acquisition Regulation Supplement (DFARS), and Cost Accounting Standards (CAS).

José guides clients through cost and pricing strategies and transformation initiatives. He prepares and analyzes cost impact proposals, gross dollar magnitude, disclosure statements, incurred cost submissions, and forward pricing rate proposals. José also supports clients with large enterprise resourcing planning (ERP) systems such as Deltek Costpoint, Oracle NetSuite, and SAP.

Earlier in his career, José spent over six years as a senior auditor at the Defense Contract Audit Agency (DCAA) and is well-versed in DCAA requirements. His subsequent experience includes working in various compliance roles for some of the federal government’s largest contractors.

Joseph Spinelli
Partner | Forensic Accounting & Commercial Damages
New York, NY, USA

Joseph Spinelli, a globally recognized thought leader and practitioner in integrity monitoring, the Foreign Corrupt Practices Act (FCPA), anti-bribery and corruption, and complex white-collar crime investigations, joins HKA as a Partner. His extensive consulting and advisory project experience spans Asia Pacific, Europe, Latin America, and the United States. 

Joe has been a trusted advisor to boards, governors, mayors, international dignitaries, and chief executive officers (CEOs) throughout his career. He has also provided expert witness testimony on several occasions. His notable achievements include leading integrity monitoring for the cleanup at Ground Zero following the 9/11 terrorist attacks, designing and implementing anti-bribery and corruption compliance programs for Fortune 500 companies, and conducting FCPA investigations in multiple countries. 

Joe was appointed Deputy Secretary and Senior Advisor by New York Governor Andrew Cuomo, selected as the first-ever Inspector General (IG) in New York State, and served as a special agent in the Criminal Division of the Federal Bureau of Investigation (FBI). He has also assisted in establishing IG offices for Louisiana, Ohio, and Pennsylvania. 

Joe holds a JD from John Marshall Law School and a BA from Ricker College. He is a Certified Fraud Examiner (CFE), a member of the Association of Certified Fraud Examiners (ACFE), and the Association of Inspectors General (AIG). 

Patrick Westerhaus
Partner | Forensic Accounting & Commercial Damages
Raleigh-Durham, NC, USA

Patrick Westerhaus joins HKA as a Partner, bringing over 23 years of experience in advisory, investigative, financial services, and entrepreneurship with a distinguished career in federal law enforcement and the U.S. Intelligence Community.

Patrick is a recognized expert and thought leader in fraud prevention, white-collar criminal investigations, cybercrime prevention, and national security. His impressive background includes a 12-year tenure with the Federal Bureau of Investigation (FBI) as a Supervisory Special Agent in the Cyber Division. While at the FBI, Patrick developed innovative techniques to combat cyber threats and led significant investigations into corporate fraud, government fraud, money laundering, and public corruption.

Patrick holds an International Security Graduate Certificate from Stanford University, a Master of Forensic Sciences degree from George Washington University, and a BBA from Gonzaga University. He is a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), and Certified Anti-Money Laundering Specialist (CAMS). His professional memberships include the Association of Certified Fraud Examiners (ACFE), the Association of Certified Anti-Money Laundering Specialists (ACAMS), and the Cybercrime Investigation Body of Knowledge (CIBOK) Editorial Committee.

Scott Wright
Partner | Forensic Accounting & Commercial Damages
New York, NY, USA

Scott Wright joins HKA as a Partner with over 35 years of experience in geopolitical risk assessment, domestic and international investigations, and crisis management. He has a proven track record of managing complex, sensitive issues with senior officials from both friendly and adversarial foreign governments. 

Scott’s expertise spans a wide range of critical areas, including risk, business intelligence and threat mitigation, physical and personnel security resilience, supply chain due diligence, digital and physical crime, and fraud prevention and counterterrorism. His experience in the U.S., EMEA, APAC, and LATAM regions, combined with his proficiency in English and Arabic, positions him as a valuable asset to HKA’s global operations. 

His distinguished 35-year federal government career includes Senior Intelligence Service rank and senior leadership roles in the Central Intelligence Agency’s (CIA) Directorate of Operations (DO), where he served in the C suite as the Associate Deputy Director for Operations/Mission and as a multi-time Chief of Station in the foreign field. As the third in command of the DO, Scott oversaw global operations, foreign intelligence collection, tradecraft, and counterintelligence/insider risk, among other disciplines. He managed large, diverse teams of operators, support personnel, and multi-billion-dollar budgets. Before joining the CIA, Scott served for three years in the United States Secret Service.  

He holds a BA from the City University of New York, is a member of Business Executives for National Security, and is an Arabist. 

Discover more of our talented experts.

Looking for your next career move?

Explore our Expert Centre
Explore our latest opportunities

Energy Charter Treaty – Sunset or Resplendent Bloom?

Article

Energy Charter Treaty – Sunset or Resplendent Bloom?

7th January 2025

Matt Riding

Senior Engineer

mattriding@hka.com

Alex Lee

Principal

alexlee@hka.com

Read the article on CDR
Magazine’s Website

First published by the Commercial Dispute Resolution Magazine, July 2024. This article has been edited for 2025.

What does the future hold for a post-Energy Charter Treaty world, with sunset clauses guaranteeing the international framework a place on the world scene for years to come?

About the Energy Charter Treaty

The signing of the Energy Charter Treaty (ECT) in 1994 was a pivotal moment within the energy sector. In the geopolitical context following the fall of the Soviet Union (USSR), it aimed to promote international energy cooperation, securing hydrocarbon energy supplies from countries in Central Asia and the former Soviet bloc in exchange for foreign investment and technical cooperation.[1]https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf

The agreement entered force in 1998; however, with shifts in global energy and environmental policy in the years that have ensued, coupled with the apparent inflexibility of the Treaty to modernisation, it now increasingly finds itself standing distant and outdated to contemporary laws and thinking.

Interestingly, while hydrocarbons were undoubtedly the overwhelming focus of the Treaty at the time it was established, it is important to note that Article 1(6) does also cover foreign investment in multiple stages of the renewable energy value chain. Given its widespread international adoption and the array of assets protected, how nations and investors within the energy sector act in response to the demise of the ECT, could come with a significant, long-lasting sting.

International Arbitration and Investor-State Dispute Settlements

Under the ECT, host states are subject to broad obligations, which investors can enforce through binding international arbitration. This is achieved through an inbuilt investor-state dispute settlement (ISDS) mechanism (Article 26(2)C), whereby investors can seek compensation before an international arbitral tribunal if they believe their rights under the Treaty have been violated.

If an amicable settlement cannot be reached within three months, the investor can escalate the dispute to the courts or administrative tribunals, either nationally or internationally, the latter mainly relating to investment protection, expropriation and compensation.[2]https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf [3]https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty

As of the end of 2021, out of over 1,100 global ISDS, more than 145 were brought about due to the ECT,[4]https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf the highest number of all investment protection agreements.[5]https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf

It is little wonder that the ISDS mechanism is the most contentious issue under the Treaty, with some arguing that it amounts to the over-protection of the economic interest of foreign investors, of which fossil fuels represent over half the total protected investment.[6]https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf

Curiously, as the ECT also offers foreign investors a range of protections for renewable energy installations, as of May 2023, approximately 59% of all ECT-based investment arbitration cases concerned renewable power generation, with the solar sub-sector alone accounting for 38% of all cases [7]Renewable energy investors continue to rely on treaty protection: updated statistics on Investment cases under the ECT – Energy Charter.

Many of the cases stem from changes to investment incentives provided to encourage development in the renewable energy sector due to the high up-front cost of new technologies and prohibition of unfair or unwarranted policy change that could amount to expropriation [8]Investment Disputes Involving the Renewable Energy Industry under the Energy Charter Treaty – Global Arbitration Review.

It has been suggested that the large number of cases brought under the ECT by renewable energy firms indicates its effectiveness at protecting green foreign investment [9]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org.

However, the overall picture is less clear, as many of these cases are concentrated in a small number of countries, and few have been successfully brought to arbitration.[10]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org

EU Climate Goals versus the ECT

As it stands, there are concerns with the Treaty for both investors and signatory states. The heavy association of the Treaty fossil fuels, the adoption of the Paris Agreement, Sustainable Development Goals (SDGs), and net zero ambitions within the EU by 2050,[11]https://climate.ec.europa.eu/eu-action/climate-strategies-targets/2050-long-term-strategy_en#:~:text=The%20EU%20aims%20to%20be,to%20the%20European%20Climate%20Law%20 climate change and sustainable development are now intrinsically interwoven and inseparable.[12]https://www.sciencedirect.com/science/article/pii/S2214629618305383

The aim of limiting the global average temperatures to below 2°C above pre-industrial levels means that some parties argue that the available global fossil fuel reserves should remain in the ground. An inevitable consequence of meeting these objectives is potentially to turn the reserves and investments made in extractive infrastructure into stranded assets; those which cannot be developed, extracted or used due to changes in environmental and societal norms.[13]Investment Disputes Involving the Renewable Energy Industry under the Energy Charter Treaty – Global Arbitration Review

The lack of compatibility between the ECT and the EU’s climate goals was highlighted in April 2021, when the Netherlands passed a law banning coal-fired power plants from 2030 and was sued by RWE and Uniper for 2.4 billion Euros [14]https://www.europarl.europa.eu/RegData/etudes/BRIE/2023/754632/EPRS_BRI(2023)754632_EN.pdf

Similarly, the cancellation of permits for the Keystone XL Pipeline resulted in USD16.3 billion in claims by TC Energy and the Province of Alberta against the United States.[15]https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf Such compensation is often based on hypothetical incomes over the lifetime of the asset and can easily reach exceptionally large liabilities for states.[16]https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf

The Future of ISDS

The scale of potential future ISDS if countries are to move toward net zero goals is staggering. In 2020, the ECT protected around 51 coal power plants that were at risk of being stranded assets in a scenario compliant with the Paris Agreement[17]https://www.iied.org/sites/default/files/pdfs/migrate/17660IIED.pdf, with an estimated total of 345 billion Euros of fossil fuel assets in the EU, UK and Switzerland currently protected.[18]Olivier Moldenhauer, Nico Schmidt, “ECT data analysis: results and methods”, Investigate Europe, 23 February 2021 https://www.investigate-europe.eu/en/2021/ect-data/ These, therefore, represent a large and potentially debilitating legal threat to governments; they may be a driver for climate inaction, risking states falling behind on their climate ambitions,[19]https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty and failing to protect the interests of the public, who will ultimately bear the long-term cost of carbon targets.[20]https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf

Modernising the Treaty and its problems

In the wake of the Paris Agreement, proposals to modernise the Treaty for states wishing to adopt cleaner technologies were made, as well as those aimed at removing the risk of ISDS against contracting states.[21]https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty

In June 2022, a modernised text was announced, but EU Member States failed to agree on a common stance.[22]https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty Differences in the climate ambitions of ECT signatories, combined with the unanimity required to make changes to the Treaty, led to the postponement of modernisation. This left many countries with carbon targets reconsidering their position within the ECT.[23]https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty

The Future of ECT

As of June 2024, there are 50 contracting members of the ECT[1]. The UK submitted written notice of formal withdrawal on 28th May 2024,[24]https://www.energycharter.org/media/news/article/written-notification-of-withdrawal-from-the-energy-charter-treaty-4/ concerned that modernisation would not occur and that still being a member would hinder the UK’s transition to cleaner, cheaper energy and possibly even penalise efforts to deliver net zero.[25]https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty Such sentiments appear widely held.[26]https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty The Russian Federation, Italy, France, Germany and Poland have already formally withdrawn.[27]https://www.sciencedirect.com/science/article/pii/S2214629618305383 Others, including Luxembourg, have given notice of withdrawal, and Spain and Slovenia have announced their intention to do so.[28]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org) Denmark, Ireland and Portugal have also announced their intentions to withdraw unilaterally.[29]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org) A leaked paper from the European Commission has commented that ‘re-negotiating the outcome of the modernisation process does not seem feasible’ and that ‘a withdrawal of the EU and Euratom from the Energy Charter Treaty appears to be unavoidable.’[30]https://www.euractiv.com/wp-content/uploads/sites/2/2023/02/Non-paper_ECT_nextsteps.pdf

Yet, from the perspective of former signatory states, once formal notification of withdrawal has been made, the risk of ISDS does not disappear immediately. To ensure long-lasting cooperation between states and investors, two sectional sunset clauses were included within the Treaty.[31]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)

The first extends the validity of the Treaty for an additional year from the date notice to withdraw is received,[32]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)) new energy investments would still be covered under the ECT for one year, and still afforded the same access to recourse by the ISDS mechanisms until the end of the sunset clause.

The second requires signatory states to adhere to provisions applying to existing investments for 20 years post-withdrawal,[33]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org) Therefore, even after unilaterally leaving the Treaty, parties are bound to honour the provisions for up to 21 years.[34]Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org) The possibility of abandoning these provisions within the sunset clause is the subject of much legal uncertainty.[35]https://arbitrationblog.kluwerarbitration.com/2022/11/04/withdrawing-from-the-energy-charter-treaty-the-end-is-not-near/[36]https://www.ashurst.com/en/insights/the-uk-and-others-exit-the-energy-charter-treaty-what-does-this-mean-for-energy-sector-investors

Disputes and the ECT

Instances where climate change regimes and the ECT’s investment protection interests conflict materialise in disputes already, but with the increasingly strict climate mitigation rules, their numbers are expected to increase.[37]https://www.mdpi.com/2075-471X/13/2/24 In future disputes, we foresee and have seen states presenting arguments for consideration and integration of climate obligations in the context of the ECT and the specific dispute, but ultimately, will have to rely on international climate obligations being taken into account by an arbitrator.[38]https://www.energycharter.org/media/news/article/written-notification-of-withdrawal-from-the-energy-charter-treaty-4/

Meanwhile from the perspective of those who have or are considering future investments within countries that have withdrawn or soon to withdraw from the ECT, efforts should be made to ensure planned investments are made as soon as possible to attain the protection of the ECT, and alternative treaties or contractual protection mechanisms should be considered. Furthermore, as time fades for resolution under the neutral dispute forum provided by ECT, disputes should be raised and arbitration sought promptly.[39]https://www.energychartertreaty.org/treaty/contracting-parties-and-signatories

A social license can never be self-awarded, it requires that an activity enjoys sufficient trust and legitimacy and has the consent of those affected. As described briefly by the McKinsey Group.[40]https://www.mckinsey.com/capabilities/sustainability/our-insights/does-esg-really-matter-and-why

“Social license is not static, and companies do not earn the continued trust of consumers, employees, suppliers, regulators, and other stakeholders based merely upon prior actions. Indeed, earning social capital is analogous to earning debt or equity capital—those who extend it look to past results for insights about present performance and are most concerned with intermediate and longer-term prospects. Yet unlike traditional sources of capital, where there are often creative financing alternatives there are ultimately no alternatives for companies that do not meet the societal bar and no prospect of business as usual, or business by workaround, under conditions of catastrophic climate change.” (or, I add, other environmental issues)

The Gradual Decline of the ECT: Balancing Climate Mitigation and Investment Challenges

In conclusion, although many now seek to depart the ECT, the fading of its sun and its disappearance are slow. Environmental triggers may even, at times, depict a resplendent sunset as the number of cases increases within the 20-year window. We envisage pressures arising from social licence and evolving climate (and environmental) legislation as catalysts for more such cases. Investors may also seek to expedite planned investment or pursue their cases early to avoid missed opportunities in a closing window. Finally, while the demise of the ECT is widely considered a positive for climate mitigation efforts, it also has the potential to harm foreign investment in the renewable technologies required to meet Paris Agreement targets. Needless to say, such complex cases have and will require a depth and mix of the best environmental experts to aid the tribunal.

If you would like to explore ECT or otherwise discuss how HKA Environment and Climate experts can help you in times of dispute or advisory, then please get in touch with Dr Alex Lee (alexlee@hka.com), who would be delighted to help.

About the Authors

Alex Lee (MSc, PhD, FGS, CSci, CGeol, EuGeol, ASoBRA, SiLC), Principal 
​​Dr Alex Lee​ Is a Chartered Geologist and Scientist with over 25 years of experience and leads HKA’s environment and climate team with over 140 environmental experts. With various industry chair appointments, he is a critical thinker and industry leader with a history of influencing and writing UK guidance. He has been cross-examined in litigation and regularly provides expert opinion, analysis, and advice within dispute values of up to £700 million. 

Matt Riding (B.Sc., M.Sc., M.Sc., Ph.D.), Senior Engineer 
Matt Riding is an experienced environmental consultant with a specific background in the environmental fate and transport of new and emerging chemicals within the environment.

References

References
↑1 https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf
↑2 https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf
↑3 https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty
↑4 https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf
↑5 https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf
↑6 https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf
↑7 Renewable energy investors continue to rely on treaty protection: updated statistics on Investment cases under the ECT – Energy Charter
↑8 Investment Disputes Involving the Renewable Energy Industry under the Energy Charter Treaty – Global Arbitration Review
↑9 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org
↑10 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org
↑11 https://climate.ec.europa.eu/eu-action/climate-strategies-targets/2050-long-term-strategy_en#:~:text=The%20EU%20aims%20to%20be,to%20the%20European%20Climate%20Law%20
↑12 https://www.sciencedirect.com/science/article/pii/S2214629618305383
↑13 Investment Disputes Involving the Renewable Energy Industry under the Energy Charter Treaty – Global Arbitration Review
↑14 https://www.europarl.europa.eu/RegData/etudes/BRIE/2023/754632/EPRS_BRI(2023)754632_EN.pdf
↑15 https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf
↑16 https://www.oecd.org/investment/investment-policy/OECD-investment-treaties-climate-change-consultation-responses.pdf
↑17 https://www.iied.org/sites/default/files/pdfs/migrate/17660IIED.pdf
↑18 Olivier Moldenhauer, Nico Schmidt, “ECT data analysis: results and methods”, Investigate Europe, 23 February 2021 https://www.investigate-europe.eu/en/2021/ect-data/
↑19 https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty
↑20 https://www.euractiv.com/wp-content/uploads/sites/2/2019/09/Report-ECT.pdf
↑21 https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty
↑22 https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty
↑23 https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty
↑24 https://www.energycharter.org/media/news/article/written-notification-of-withdrawal-from-the-energy-charter-treaty-4/
↑25 https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty
↑26 https://www.taylorwessing.com/en/insights-and-events/insights/2024/03/uk-announces-withdrawal-from-energy-charter-treaty
↑27 https://www.sciencedirect.com/science/article/pii/S2214629618305383
↑28 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)
↑29 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)
↑30 https://www.euractiv.com/wp-content/uploads/sites/2/2023/02/Non-paper_ECT_nextsteps.pdf
↑31 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)
↑32 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)
↑33 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)
↑34 Despite consensus on the ECT’s incompatibility with the global climate agenda, claims that it is well-suited for the clean energy transition persist – Investment Treaty News (iisd.org)
↑35 https://arbitrationblog.kluwerarbitration.com/2022/11/04/withdrawing-from-the-energy-charter-treaty-the-end-is-not-near/
↑36 https://www.ashurst.com/en/insights/the-uk-and-others-exit-the-energy-charter-treaty-what-does-this-mean-for-energy-sector-investors
↑37 https://www.mdpi.com/2075-471X/13/2/24
↑38 https://www.energycharter.org/media/news/article/written-notification-of-withdrawal-from-the-energy-charter-treaty-4/
↑39 https://www.energychartertreaty.org/treaty/contracting-parties-and-signatories
↑40 https://www.mckinsey.com/capabilities/sustainability/our-insights/does-esg-really-matter-and-why

Welcome to our new colleagues – October 2024

News

Welcome to our new colleagues – October 2024

26th November 2024

In October 2024, we welcomed 23 new colleagues to our global team.

This included strengthening our team in the Forensic Accounting and Commercial Damages department, including Partner Jenny Dominguez in Los Angeles and Director Sam Baird in Las Vegas.

We’re always looking to expand our team; please take a look at our current vacancies to see our latest opportunities.

May Aldowayan
Billing Analyst | Finance
Riyadh, Saudi Arabia

May Aldowayan joins the Saudi team in Riyadh as a Billing Analyst.

May is a dedicated and ambitious professional who prides herself on her analytical skills and passion for growth. May joins HKA from her previous position working for the Ministry of Health in KSA and looks forward to applying her expertise and experience in her new role. May holds a master’s degree in business administration from Saudi Electronic University as well as an LL.B. in Law from Prince Sultan University and IPC certification in English from Brunel University London.

Christabelle Alvares
Associate Consultant | Forensic Accounting & Commercial Damages
Dubai, United Arab Emirates

Christabelle Alvares joins the FACD team as Associate Consultant. She is based in the Dubai office.

Christabelle holds a Bachelor of Science and a Master of Science in Computing Security from Rochester Institute of Technology, NY. She is an active member of Women in CyberSecurity (WiCyS), an organization committed to advancing women in the field of cybersecurity. She holds two certifications – the GFACT and GSEC (GIAC Security Essentials) and is currently working towards the GCIH (GIAC Certified Incident Handler).

Aiman Anis
Consultant | Forensic Accounting & Commercial Damages
London, United Kingdom

Aiman Anis joins as a Consultant within the EMEA Economics Practice, based in London. A recent graduate in Economics and Policy with a Master of Science from King’s College London, she also holds a Bachelor of Commerce in Financial Accounting and Auditing from the University of Mumbai.

Aiman specialises in applied economics and impact evaluation, bringing expertise in economic theory and causal inference to support economic assessments and valuations. Her strong analytical foundation, reinforced by her background in financial accounting and auditing, enables her to tackle complex consultancy projects and deliver data-driven economic solutions.

Sam Baird
Director | Forensic Accounting & Commercial Damages
Las Vegas, United States

Samuel (Sam) Baird joins as a Director with over 10 years of experience in the Intellectual Property space. His background includes matters related to mergers and acquisitions, economic damages, valuations, licensing and patenting issues, and FRAND royalty calculations. He creates economic models and applies data analytics to conduct comprehensive financial analyses and rigorous due diligence processes.  

Sam has a Juris Doctorate from the Case Western Reserve University School of Law, a Master of Arts in Intellectual Property Management and Markets from the Illinois Institute of Technology, and a Bachelor of Arts in Communication Studies from Brigham Young University. He is pursuing a Master of Arts in Quantitative Business Economics from the University of Nevada, Las Vegas.  

Alan Bowey
Technical Director | Forensic Technical Services
Glasgow, United Kingdom

Alan Bowey is a highly regarded Chartered Civil Engineer with over 25 years of diverse experience in the industry. His expertise covers the full spectrum of civil, geotechnical, and environmental engineering, where he has consistently showcased exceptional skill and leadership. Throughout his career, Alan has been involved in the design and construction of a wide range of infrastructure projects, from complex heavy civil works, including deep basement retention, ports and harbours, and tunnelling, to major highway schemes. His portfolio also extends to power and renewable energy projects, as well as the reclamation and remediation of Brownfield sites.

A Fellow of the Institution of Civil Engineers, and Practising Member of The Academy of Experts, Alan is an experienced project manager for multi-disciplinary developments incorporating structural, civil, geotechnical, marine, and specialist environmental assessment and engineering. He also holds a PhD in Geotechnical Engineering from the University of Glasgow, where his research focused on the numerical modelling of geotechnical structures such as surface foundations, embankments, and buried culverts or tunnels to provide a framework for parameter selection to support commercial application of numerical techniques.

Joel Brown
Manager | Forensic Accounting & Commercial Damages
Miami, United States

Joel Brown graduated from Florida State University completing a double major in economics and political science. He went on to receive a Juris Doctor degree from the University of Florida Levin College of Law and then attained a Master of Laws degree in Taxation at the Northwestern University Pritzker School of Law.

Joel has a broad array of experience ranging from logistics consulting to working as an international tax consultant for the Big 4. He admires the passion and tremendous talent he has seen from his new HKA colleagues and looks forward to his career at HKA.

Liam Clayton
Associate Consultant | Forensic Accounting & Commercial Damages
San Francisco, United States

Liam Clayton joins HKA in the San Francisco office after completing a Bachelor’s Degree in Finance from Santa Clara University. He has previously worked in the technology sector and has prior experience in business and property valuation.

Liam looks forward to working with the Intellectual Property team, focusing on matters such as patent and copyright infringement, antitrust issues, IP valuation, and other related areas.

Sophie Colquhoun
Marketing and Communications Manager
Riyadh, Saudi Arabia

Sophie joins HKA as Marketing & Communications Manager and is based in Saudi Arabia.

Sophie relocated from the UK to Riyadh and joins HKA with a wealth of digital marketing campaign experience. Sophie is a creative marketing professional with over ten years of experience in content creation, digital marketing, and brand management. Sophie has a proven track record in building and engaging audiences on LinkedIn, growing company accounts by thousands of followers and increasing engagement. Sophie holds an English Literature Degree.

Briana Cuteri
Associate Consultant | Forensic Accounting & Commercial Damages
Phoenix, United States

Briana Cuteri graduated from the University of Arizona in 2023 where she spent time as an analyst in the university’s office of budget and planning. After graduating, she spent a year working as an implementation consultant in the consumer products and retail industries where she worked on data translation and backend coding. She joins us now as an associate consultant out of the Phoenix office.

Jenny Dominguez
Partner | Forensic Accounting & Commercial Damages
Los Angeles, United States

Jenny Dominguez is a Certified Public Accountant with nearly 25 years of experience. She has been appointed as a forensic accounting expert on multiple occasions.  

Jenny specializes in comprehensive analyses of financial data, utilizing organizational data and publicly available information in conjunction with advanced data analysis tools and techniques to conduct thorough comparisons with bank activities, disbursements, and other financial outflows to identify potential fraud that warrants further investigation. She has conducted internal control assessments and fraud risk evaluations and has led numerous forensic accounting and investigation engagements for two prominent national accounting firms.

Jenny is a Certified Fraud Examiner and Certified in Financial Forensics. She is a member of the American Institute of Certified Public Accountants (forensic and valuation services section), the Association of Certified Fraud Examiners, and the California Society of CPAs.

Muaz Fagiar
Director | Construction Claims
Calgary, Canada

Dr. Muaz Fagiar joins as a Director with over 15 years of experience specializing in contract and claims management, project controls, and dispute resolution. He is a subject matter expert in critical path method scheduling, delay and disruption analysis, and claims management, mitigation, and avoidance.  

Dr. Fagiar assists clients with identifying risks, implementing controls, minimizing claims exposure, and establishing contract and claims management strategies. He has worked on several major infrastructure projects in Western Canada, such as the Valley Line LRT. His expertise spans transportation systems, roads, tunnels, bridges, dams, utilities, facilities, and signaling systems, among other areas. 

Dr. Fagiar has authored, co-authored, and presented numerous papers at conferences, published papers in construction management journals, and delivered guest lectures on contracts and claims management.  

Kadry Gharraph
Director | Forensic Accounting & Commercial Damages
Dallas, United States

Kadry has over 18 years of experience specializing in business and intellectual property valuations and financial modeling for various purposes, including strategic planning, mergers and acquisitions, and financial planning and reporting. He has led and participated in valuation teams that provided clients with strategic planning and litigation support services. Kadry leverages data-driven insights to navigate complex financial and strategic issues across various industries and market sectors, including consumer and industrial products, life sciences, and specialty chemicals.

Before joining HKA, Kadry was a managing director at FTI Consulting. He earned his Bachelor of Business Administration in Finance and Financial Institutions from Kuwait University. Kadry is also a member of the American Society of Appraisers Dallas Chapter and is working toward obtaining his Accredited Senior Appraiser designation.

Charlotte Hunter
Expert Witness Support Manager | Marketing
London, United Kingdom

Charlotte is a marketing, communications, and bidding professional with over 17 years of experience. 

Her experience has predominantly been gained within the construction industry. She has devised large-scale marketing budgets and delivered complex marketing strategies, campaigns, and CRM initiatives. She has also worked across all areas of bid management and production. 

 

Rhondell Jaravata
Senior Consultant | Construction, Claims and Expert Services
Dubai, United Arab Emirates

Rhondell Jaravata re-joins HKA as Senior Consultant and is based in Dubai.

Rhondell has over 14 years of extensive experience within the construction field, including re-measurements, variations, valuations, cost reporting, final account agreements, cash-flow analysis, claims for loss and expense, and contractual negotiations. He has held several positions as quantum claims and commercial consultant with international contractors for various major projects in Qatar. His sector experience covers airports, ports, roads and expressways, buildings, rail, oil & gas, special system, and MEP works.

Carrie Lyell
Editorial Project Manager | Business Development
Glasgow, United Kingdom

Carrie Lyell is an award-winning writer and editor known for her work in LGBTQ+ media, including DIVA magazine, where she served as editor-in-chief for four years. Carrie’s insightful articles and dedication to amplifying diverse voices has made them a respected figure in the community. A natural storyteller with a passion for changemaking, they have held senior communications roles in the third sector and in 2024 was nominated for Strategic Leader of The Year at the Charity Comms’ Inspiring Communicator Awards. Carrie is also a trustee at an LGBTQ+ charity.

Yazan Qasem
Consultant | Construction, Claims and Expert Services
Dubai, United Arab Emirates

Yazan joins the Dubai office as Consultant.

Specialising in construction disputes and delay analysis, Yazan holds a master’s in data science and artificial intelligence from the University of Liverpool and a bachelor’s in electrical engineering from the American University of Sharjah. Yazan focuses on analysing documentation and project programmes to provide insights for expert reports. He has worked on metro line projects and supported a forensic investigation for a residential complex, identifying project delays and contributing to dispute resolution.

Karl Rorabacher
Senior Associate Consultant | Forensic Accounting & Commercial Damages
Houston, United States

Karl Rorabacher joins the Intellectual Property team with 19 years of experience. His previous work includes litigation involving patents, trademarks, trade dress, copyrights, theft of trade secrets, and other commercial disputes and business consulting.

Prior to joining HKA, Karl was at LECG, Lumin Expert Group, Duff & Phelps, Kroll, and Charles River Associates.

Sep Shadkhast
Senior Associate Consultant | Construction Claims
Montreal, Canada

Sep Shadkhast holds a Master’s in Construction Engineering and Management from Concordia University and has developed a solid foundation in addressing complex challenges in the construction industry. His experience includes forensic schedule analysis, delay quantification, productivity assessments, and contract evaluation, gained through work on large-scale infrastructure and renewable energy projects.

Prior to joining HKA, Sep worked as an Associate Consultant at Revay and Associates Limited, where he developed his skills in analyzing construction claims and preparing comprehensive reports. With a focus on schedule analysis techniques and clear communication of findings, he ensures accurate evaluations and clear reporting to support construction dispute resolution. Sep’s approach emphasizes data-driven insights and methodical evaluations, delivering practical solutions for construction claims and related challenges.

Sabrina Sun
Administration Assistant | Construction, Claims and Expert Services
Beijing, China

Sabrina Sun graduated from the University of Illinois at Urbana-Champaign with a Masters and Bachelors degree in Economics. She has developed skills in office management, project coordination, and bilingual communication in English and Mandarin. Her professional experience encompasses managing high-level schedules, organizing corporate events, and optimizing office processes to support organizational efficiency and team collaboration. As an Administrative Assistant she will be supporting colleagues in the Beijing office with day-to-day tasks. This includes coordinating schedules, facilitating communication between departments, managing project timelines, and ensuring smooth office operations to enhance overall productivity.

Enrique Ugarte
Director, Strategic Advisory Lead | Advisory
Sydney, Australia

Enrique Ugarte brings over 20 years of experience in strategy, transformation, and project advisory across various industries. Enrique’s impressive background includes conducting strategic reviews, identifying and implementing programs to drive efficiency and effectiveness, and leading diverse teams on complex initiatives in both the private and public sectors, including transport, infrastructure, utilities, and defence.

Andrew Walters
Technical Director | Forensic Technical Services
Glasgow, United Kingdom

Andrew Walters brings a wealth of expertise in Town Planning and Environmental Law, having worked on numerous projects and policy initiatives in both public and private sectors for over three decades. His principal area of experience is in developing and securing Development Consent Orders for nationally significant infrastructure projects in England, while also working to deliver other forms of consents for major infrastructure projects in Scotland and Wales. Andrew brings robust expertise to project delivery and management on a broad range of infrastructure projects, including energy transmission, solar, onshore wind, nuclear new build, advanced nuclear technologies, radioactive waste, airport expansion projects, deep-water ports, light and heavy rail, bridge, and energy from waste projects across the UK and overseas. 

Andrew has served on several boards, including a pivotal role as an Appointed Member of the Committee on Radioactive Waste Management during a crucial time in shaping the strategy and direction of the UK’s Geological Disposal Facility (GDF). He further broadened his expertise through his work with the NDA Research Board (Nuclear Decommissioning, Small Modular Reactors and Fusion), and has held positions as an Appointed Member of the Strathclyde Partnership for Transport and as a Non-Executive Director at Nevis Technologies Limited.

Graham Warren
Director | Construction, Claims and Expert Services
Dubai, United Arab Emirates

Graham Warren joins as Director and is based in the Dubai office.

Graham is an experienced multi-skilled Quantity Surveyor with 20+ years of expertise in the UK and Middle East construction sectors. Specialised in dispute resolution, with a focus on amicable settlements through various dispute resolution rules.

Graham has assisted in the cost and contract delivery of some of the world’s most complex construction projects including Bechtel’s $17bn Hamad International Airport and Ferrovial’s £1billion T2 (The Queen’s Terminal) at Heathrow Airport.

Eyup Yigit
Senior Consultant | Advisory
Sydney, Australia

Eyup Yigit is a Cost Manager with over six years of international experience in cost management and project controls, and is currently working on the Sydney Metro project. His role encompasses the preparation and management of project budgets, monitoring expenditures, and ensuring alignment with financial objectives. He is also responsible for producing monthly cost reports and analyzing trends to enhance cost efficiency.

Previously, he has worked on large-scale industrial projects across Iraq, Uzbekistan, Russia, and Algeria, where he specialized in budget control, detailed scheduling, and the implementation of earned value management. His background includes the development of recovery plans for budget and schedule deviations, as well as collaboration with cross-functional teams to meet cost targets.

Discover more of our talented experts.

Looking for your next career move?

Explore our Expert Centre
Explore our latest opportunities

Welcome to our new colleagues – September 2024

News

Welcome to our new colleagues – September 2024

23rd October 2024

In September 2024, we welcomed 28 new colleagues to our global team.

This included strengthening our team in the Netherlands with 4 new hires, including Forensic Accounting and Commercial Damages Partner Tjeerd Krol in Amsterdam.

We’re always looking to expand our team; please take a look at our current vacancies to see our latest opportunities.

Phoebe Atkinson
Billing Manager, Europe | Finance
Warrington, UK

Phoebe Atkinson has 8 years of experience working in Finance in the legal sector.

She has experience with multiple billing systems and processes, project management, and implementing system enhancements. Alongside this, she is currently studying to complete her ACCA exams.

Andrea Cook
Consultant | Advisory
Johannesburg, South Africa

Andrea Cook​ is a consultant specialising in performance improvement projects, project management, operational model design, and change management. Andrea has developed a strong expertise in conducting current state assessments and driving impactful change initiatives. With a Master of Science in Civil Engineering, specialising in Structural and Materials Engineering from the University of Cape Town, Andrea combines technical proficiency with a deep understanding of complex systems. 

Andrea is adept at data modelling using Power BI, stakeholder engagement, and problem-solving, always excelling in collaborative team environments. Andrea’s consultancy work is characterised by a strong analytical approach, ensuring that clients achieve their strategic objectives efficiently and effectively.

Ramon de Legorburu
Partner | Forensic Accounting & Commercial Damages
Miami, FL, USA

Throughout his distinguished career, Ramon “Ray” de Legorburu has provided invaluable services to a diverse range of clients across various industries, including construction, manufacturing, financial services, transportation, healthcare, and consumer goods. His expertise encompasses damages and lost profit calculations, forensic investigations, and investigations into financial statement misrepresentation.

Ray has a proven track record of investigating complex allegations, including Foreign Corrupt Practices Act (FCPA) violations, management fraud, and sophisticated money laundering schemes. He has also assisted in the defense of public accounting firms in accounting malpractice suits and presented to the U.S. Securities and Exchange Commission (SEC) on the topic of financial statement restatements.

At HKA, Ray will continue to leverage his experience as a consultant and former Chief Financial and Administrative Officer to provide top-tier forensic and dispute services. His notable achievements include leading teams in high-stakes investigations, conducting anti-bribery and anti-corruption due diligence, and serving as an expert witness in economic damages and business valuation disputes.

Hannah DeWitt
Senior Associate Consultant | Forensic Accounting & Commercial Damages
Philadelphia, PA, USA

Hannah DeWitt joins our Philadelphia office as a Senior Associate Consultant in the FACD department. She holds a Master’s in Forensic Accounting & Fraud Examination, as well as the Certified Fraud Examiner (CFE) designation. Hannah spent the last 6 years as a forensic accountant specializing in the quantification of economic damages related to property damage, business interruption, and extra expense insurance claims. Her experience with complex claims encompasses matters involving various industries, including hospitality, manufacturing, healthcare, retail, and others.

Sean Fay
Associate Consultant | Construction Claims
Chicago, IL, USA

Sean Fay is a recent graduate from the University of Notre Dame with a background in finance and economics. He was born and raised in the Phoenix area, where he gained experience through internships in both banking and consulting. He has experience in economic research and ESG, gained through his academic studies. He is excited to begin his career in the Chicago office as an Associate Consultant in the Claims division.

Tygo Fijn
Consultant | Forensic Accounting & Commercial Damages
Amsterdam, Netherlands

Tygo recently joined the Forensic Accounting and Commercial Damages (FACD) practice in the new Amsterdam office. Prior to joining HKA, Tygo gained dispute experience through the Expert Services practice at Kroll. He obtained a bachelor’s degree in economics & business economics, with a minor in data science, and a master’s degree in Banking & Finance, both from Utrecht University.

Tygo is known for his strong quantitative capabilities and experience in solving complex challenges. He excels in creating, structuring, and analysing large datasets, leveraging his financial modelling skills alongside his statistical and financial knowledge.

Maxime Girard
Partner | Forensic Accounting & Commercial Damages
Dubai, UAE

Maxime is a damages expert with close to 25 years of professional experience in damage quantification, business valuation, fraud investigation, accounting, and auditing.

Maxime’s expertise spans the quantification of damages claims in international commercial and investment treaty disputes, contentious valuations and expert determinations, as well as shareholder, joint-venture, and post-transaction disputes, financial and fraud investigations, and other types of forensic accounting assignments. His extensive background spans a variety of sectors, including oil and gas, manufacturing, telecommunications, real estate, hospitality, retail, and the services sector. 

Maxime’s comprehensive experience and proven track record have earned him multiple selections as an Expert in Arbitration and Courts. Additionally, he has substantial experience in conducting complex, high-profile financial investigations.

Hailey Grubich
Associate Consultant | Construction Claims
Chicago, IL, USA

Hailey Grubich joins the Chicago office as an Associate Consultant after receiving a bachelor’s degree in Civil & Environmental Engineering from the University of Illinois Urbana-Champaign. She has experience in project management, software implementation, and data analysis from her internships with a general contractor and a technology consulting firm. She looks forward to building her expertise in the construction claims practice and forming new connections in the Chicago office.

Charles Humphries
Associate Director | Construction, Claims and Expert Services
London, UK

Charles Humphries is a Chartered Quantity Surveyor and a Fellow of the Chartered Institute of Arbitrators, with over 13 years of experience in the construction and civil engineering industries, both domestically and internationally, spanning the tender to completion stages. 

Whilst working in main contracting, Charles has served as a Commercial Lead responsible for a large scope of civil engineering works. In expert consultancy, he has provided detailed quantum expert analysis and drafted expert reports for litigation, arbitration, adjudication, and mediation proceedings.

Samantha Keith
Business Support Lead
Dubai, UAE

Samantha Keith joins HKA as Business Support Lead and is based out of the Dubai office.

Samantha has over two decades of success in establishing, managing, and optimising office operations in both start-up and established corporate environments. She has extensive experience in executive support, strategic planning, and establishing systematic processes to help fledgling businesses transition smoothly to mature operations. Throughout her career, Samantha has held roles as a Business Support Manager, Business/Project Coordinator, and Executive Assistant. She holds a BSc (Hons) degree in geology from Royal Holloway and Bedford New College, University of London.

Haitham Khaireldin
Principal | Construction, Claims and Expert Services
Dubai, UAE

Haitham is a distinguished engineer and accredited delay and quantum expert witness, with 18 years of experience in construction, project planning, consultancy, and dispute resolution across a broad spectrum of industries.

Haitham’s experience as a party-appointed expert in arbitration and litigation is further complemented by his role in offering crucial independent assessments and resolutions. He has been appointed by the Court over 200 times, delivering independent expert reviews and determinations as part of legal proceedings for various disputes, including civil engineering, building, and real estate.

Haitham has provided testimony on several major global projects in the renewable power and utilities sector in the UK, as well as oil and gas ventures in Algeria, Iraq, Kuwait, Saudi Arabia, Qatar, and the United Arab Emirates. He has also been involved in transportation infrastructure and building projects in Egypt and the United Arab Emirates.

Bilal Khalife
Manager | Construction Claims
Montreal, QC, Canada

Bilal Khalife has over 10 years of experience in construction management, with a focus on various large-scale residential and commercial projects. He holds a Master of Engineering in Construction Management, a Graduate Certificate in Business Administration, and a master’s degree in civil engineering. Bilal has overseen all aspects of construction projects, from preparing bid documents and performing value engineering to monitoring budgets and schedules, coordinating among project stakeholders, and negotiating change orders and claims.

Bilal’s broad experience includes working with general contractors, subcontractors, architects, engineers, attorneys, city authorities, and utilities to define project concepts, assign design and construction work, ensure adherence to project plans, budgets, and schedules, and identify opportunities for cost savings. His projects include high-rise residential buildings for seniors, government buildings, apartment buildings, and luxury chalet units in the Middle East (ME), Africa, and North America (Canada). He is well-versed in developing effective solutions to project challenges and delivering high-quality results on time and within budget.

Zachary Kozub
Associate Director | Forensic Accounting & Commercial Damages
Chicago, IL, USA

Zachary Kozub joins HKA as an Associate Director at our Chicago office. Zack’s forensic accounting and commercial damages experience is rooted in intellectual property matters and economic damages. His expertise includes quantifying and calculating disgorgement and lost profits damages, determining reasonable royalty damages, and assessing lost enterprise value or lost business investment damages. He has provided analysis and litigation support services for matters involving trademark, patent, and copyright infringement, false advertising, trade secrets, and antitrust and business insurance claims. Zack has experience in a wide range of market sectors, including technology, biotechnology, consumer packaged goods, industrial and manufacturing, real estate, software, and the hospitality industry. 

Before joining HKA, Zack was a Managing Consultant at Berkeley Research Group, LLC. He has a Master of Business Administration in Finance from Loyola University Chicago and a Bachelor of Science in Accounting from Miami University.  

Tjeerd Krol
Partner | Forensic Accounting & Commercial Damages
Amsterdam, Netherlands

Tjeerd Krol is leading the Financial Dispute Consulting practice in the Amsterdam office. His practice is focused on (commercial) disputes, both in litigation and in arbitration, as well as forensic accounting and financial reporting disputes.

Tjeerd has over 25 years of experience in various types of disputes, including litigation and international arbitration, such as post-merger disputes, shareholder disputes, minority interest valuations, follow-on claims, securities litigation, lost profits calculations, and various types of accounting irregularities and reconstructions.

His experience includes consulting for clients facing accounting irregularities, financial statement restatements, and SEC or other regulatory inquiries / investigations. Prior to joining HKA, Tjeerd held the position of Managing Director in the Expert Services practice at Kroll Expert Services, Managing Director at Alvarez & Marsal Disputes and Investigations, and Audit Partner at Deloitte.

Shahijah Libon
Business Support Administrator
Kuala Lumpur, Malaysia

Shahijah Libon is currently serving as a Business Support Administrator based in Kuala Lumpur, with prior experience as an Office Administrator in a start-up IT company. Multilingual and eager to learn, Shahijah is excited to continue gaining experience, expanding skills, and pursuing professional growth in HKA.

Fabian Lim
Associate Director | Construction, Claims and Expert Services
Singapore

Fabian Lim is a quantity surveyor with 10 years of experience in the construction industry, specialising in contract management, construction claims, and disputes management. His expertise includes providing construction claims advice and strategy to assist clients with preparing and/or reviewing quantum-related claims.

Fabian has also been instructed as an independent party appointed Expert Witness in arbitration proceedings and has provided oral testimony. He has provided commercial advice to a variety of clients on projects spanning across buildings, oil and gas, energy, and infrastructure sectors. He regularly leads teams to assist senior testifying Expert Witnesses in Quantum on contentious matters and is experienced in working on high‐value and complex arbitration and litigation proceedings.

Tony Mauritz
Director | Forensic Accounting & Commercial Damages
Amsterdam, Netherlands

Tony Mauritz, formerly of Kroll Expert Services, focuses on litigation support for various financial and accounting issues, including shareholder disputes, business interruption, minority interest valuations, accounting irregularities, and investigations supporting collective actions. Prior to joining Kroll, he served as a manager at KPMG, overseeing audit teams during audits of both large and small clients across various industries.

Amaury Merlin
Consultant | Forensic Accounting & Commercial Damages
Paris, France

Amaury joins our Paris office as a consultant in the Forensic Accounting and Commercial Damages practice. Prior to starting at HKA, he was a senior analyst in transaction services at a Big Four consulting firm. Amaury has gained extensive knowledge in accounting and finance, working on sell-side and buy-side M&A deals across various industries. Amaury has a master’s degree in Corporate Finance from Iéseg School of Management in France.

Reham Musaed
Managing Consultant | Construction, Claims and Expert Services
Dubai, UAE

Reham Musaed joins the Dubai office as Managing Consultant. Reham is an experienced contract management professional and joins the Dubai office as Managing Consultant, specialising in quantum.

Reham holds a master’s degree in construction law and has served as a tribunal secretary on multiple arbitration and adjudication cases. She is passionate about negotiations and adept at helping companies navigate complex contractual matters.

Robert Ndebele
Consultant | Advisory
Johannesburg, South Africa

Robert Ndebele​ is a registered Professional Town Planner with over eight years of experience in strategic planning, policy development, and advisory services. Prior to joining HKA, he worked as a Town Planning Consultant, leading projects at national, provincial, and municipal levels in South Africa. His work has involved developing spatial development strategies, master plans, and land-use frameworks, as well as advising on civil services infrastructure planning for various government authorities. 

Robert is a Chevening Scholarship recipient and has recently completed his MBA studies at the University of Warwick.

Christina Reynolds
Director | Forensic Accounting & Commercial Damages
Houston, TX, USA

Christina Reynolds joins HKA as a Director with over 18 years of experience in forensic accounting and litigation support for economic damages, financial investigations, insurance claims, and other litigation matters. Her expertise includes restructuring and turnaround management, financial and fraud investigations, claims analysis, damages calculations, cash flow projections, lost profits analysis, and assessments of accounting and financial reporting systems and controls.  

Christina has supported the preparation and development of expert witness reports and testimony for various disputes across multiple sectors, including agriculture, energy, hospitality, retail, and construction. 

Before joining HKA, Christina was an associate director at B. Riley Advisory Services. Christina has a Master of Accounting from Nova Southeastern University and a Bachelor of Business Administration in Accounting from the University of Miami. She is a Certified Fraud Examiner (CFE) and a member of the Association of Certified Fraud Examiners (ACFE), as well as the Houston Area Chapter of the ACFE. 

Willliam Roeder
Associate Consultant | Forensic Accounting & Commercial Damages
Phoenix, AZ, USA

William Roeder rejoins our Forensic Accounting and Commercial Damages team as a full-time employee following his internship last summer. He graduated from Arizona State University in May 2024 with a Master of Accountancy and a concentration in Data Analytics.

Sean Sarsfield
Principal | Forensic Accounting & Commercial Damages
Houston, TX, USA

Sean Sarsfield joins HKA as a Principal based in Houston, Texas. Sean has over 22 years of professional experience in forensic accounting, business interruption, litigation support, and expert witness services. He has provided fraud detection and forensic accounting services in investigations involving embezzlement, misappropriation of assets, financial reporting fraud, and breaches of fiduciary duty.  

Sean has determined economic damages and lost profits in matters involving business torts and business interruption. His experience also includes providing expert witness testimony and support services in arbitration, mediation, and trial for various clients. 

Before joining HKA, Sean was a director at Forvis Mazars. He earned his Bachelor of Arts in Economics and Management at Albion College. He is a Certified Valuation Analyst (CVA), Certified in Financial Forensics (CFF), a Certified Fraud Examiner (CFE), and a Certified Public Accountant (CPA) in Michigan, New York, and Texas. 

Rayan Suliman
Business Support Administrator
Riyadh, Kingdom of Saudi Arabia

Rayan Suliman joins HKA’s RHQ office in Saudi Arabia as Business Support Administrator. Rayan is a Business Support Administrator with extensive experience in business development and administration. She holds a Master’s degree in Management Information Systems.

Rayan began her career as an Executive Secretary, before working as an Assistant Business Development Manager and later as a Business Development Executive. She also completed an internship as a Marketing Specialist. Rayan is eager to acquire new skills and continually seeks opportunities for personal and professional growth.

Kadir Varol
Associate Director | Construction, Claims and Expert Services
Rotterdam, Netherlands

Kadir is a civil engineer with over 13 years in the construction industry, specializing in delay, disruption, and quantum-related disputes. He excels in preparing claims and conducting forensic analyses of delay and disruption, working closely with experts and project teams. Kadir’s analytical skills enable him to determine critical project paths, assess delays, and identify risks, making him a valuable asset in complex construction projects and disputes.

Kadir has been actively involved in adjudication, arbitration, and litigation processes, focusing on delay and disruption issues, prolongation costs, and price adjustments. With a robust academic foundation and extensive on-site experience, Kadir is proficient in recognized forensic delay analysis methods, allowing him to navigate complex construction disputes effectively.

Christopher Ying
Associate Consultant | Forensic Accounting & Commercial Damages
San Francisco, CA, USA

Chris Ying is a recent graduate of the University of California, Berkeley, where he graduated as the top student in his entire class. In college, he majored in mathematics and history while working for the White Collar Crimes Unit of the San Francisco District Attorney’s Office.

In his free time, he teaches mathematics at San Quentin State Prison, California’s oldest and largest correctional institution.

Maliha Zuberi
Director | Forensic Accounting & Commercial Damages
Houston, TX, USA

Maliha Zuberi joins HKA as a Director with over 12 years of experience specializing in economic and litigation damages. Her expertise encompasses IP matters, including patent and trade secret infringement, as well as copyright, trademark, and International Trade Commission (ITC) investigations. Maliha’s commercial damages and dispute experience encompasses matters involving breach of contract, tortious interference, aiding and abetting, white-collar fraud, and analyses of mortgage-backed securities, mutual fund fees, and investment strategies.  

Maliha has supported the preparation of expert reports and expert witness testimony in various litigation settings, including state courts, federal courts, and international arbitrations. 

Before joining HKA, Maliha was a director at Ocean Tomo, a part of J.S. Held. She has a Master of Science in Actuarial Science from the University of Nebraska–Lincoln and a Bachelor of Arts in Economics from the University of California, Irvine.

Discover more of our talented experts.

Looking for your next career move?

Explore our Expert Centre
Explore our latest opportunities

Welcome to our new colleagues – July and August 2024

News

Welcome to our new colleagues – July and August 2024

27th September 2024

In July and August 2024, we welcomed 24 new colleagues to our global team.

This included strengthening our Forensic Accounting and Commercial Damages team with sixteen people, including Partners Scott Van Meter in Houston and Dr. Charles Parekh in Chicago and strengthening our Africa operations with the appointment of Murray Michell.

We’re always looking to expand our team; please take a look at our current vacancies to see our latest opportunities.

Akif Affan
Senior Consultant | Construction Claims and Expert Services
Singapore

Akif Affan has over 10 years of industry experience within Southeast Asia, Middle East and Hong Kong. He began his career as a consultant Quantity Surveyor and later specialises in contracts, claims and dispute management where he has represented specialist contractors, developers and law firms.

He has extensive experience working on major international energy and civil engineering projects from the multi-billion-dollar projects such as the Klang Valley Double Tracking (KVDT), Malacca Gateway Developments, Light Rail Transport 3 (LRT3), the high-end learning institution for Petronas Leadership Centre, Cross Bay Link (CBL) in Hong Kong to the Edra Melaka Power Plant, being the largest combined cycle gas-fired power plant.

Akif is an accredited expert having testified in court and arbitration on matters of quantum and commercial. During his career he has successfully mediated parties in marine works disputes for out-of-court settlement. Akif also lectures in higher learning institutions in Malaysia on subjects of a similar nature, including other speaking engagements.

Gopaal Aggarwal
Associate Consultant | Forensic Accounting & Commercial Damages
Los Angeles, CA, USA

Gopaal Aggarwal has joined HKA’s Los Angeles office as an Associate Consultant. He recently graduated from the University of Southern California with a Master’s in Business Analytics and a Bachelor’s in Economics. Gopaal is eager to develop his expertise in the Forensic Accounting and Commercial Damages practice and build strong connections with his colleagues.

Arman Balian
Associate Consultant | Forensic Accountant & Commercial Damages
Los Angeles, CA, USA

Arman Balian joins the Los Angeles office as an Associate Consultant after earning his bachelor’s degree in business administration, with an emphasis in entrepreneurship, from the University of Southern California in December 2023. During his time at USC, Arman gained valuable experience as a project manager for a deep tech startup, honing his skills in strategic planning, data analysis, and team leadership. Arman is excited to start his professional journey as he begins his career with HKA.

Jackson Dutton
Associate Consultant | Government Contracts
Washington, DC, USA

Jackson Dutton rejoins the Washington DC office as a recent graduate of the University of Maryland, receiving a Bachelor of Science degree in Finance. 

He brings experience in finance and accounting from his internship in Government Contracts, coupled with his management experience. He is excited to continue expanding his knowledge and extend his expertise at the DC office. 

Adam Einbinder
Manager | Forensic Accounting & Commercial Damages
San Francisco, CA, USA

Adam Einbinder has over six years of experience in intellectual property, economic, and valuation consulting. Adam’s expertise lies in the areas of financial and economic modeling and analysis. He advises clients in the context of commercial damages and the valuation of tangible and intangible assets across a variety of industries, including in the semiconductor, SaaS (software as a service), electronics, healthcare, real estate, and power industries. He holds a MSc in Applied Economics and Econometrics and a Bachelor of Science in Environmental and Resource Economics.

Ben Fisher
Associate Consultant | Forensic Accounting & Commercial Damages
Paris, France

Ben Fisher joined our Paris office as a recent graduate of the École Polytechnique, receiving a Masters degree in Economics, Corporate Finance and Data Analytics with a focus in corporate valuations and econometrics. With previous experience as an intern across a variety of sectors including the Financial services and Consumer goods sectors, Ben is excited to establish his future career in the FACD team.

Veronique Foulon
Director | Forensic Accounting & Commercial Damages
London, UK

Veronique Foulon brings over 12 years of experience in business intelligence and investigations, aiding clients across Financial Services, Telecommunications, Aerospace, Construction, Hospitality, and Manufacturing with third-party risk management, integrity due diligence, asset tracing, and US FCPA and OFAC investigations. She prepared reports for submission by lawyers to the Serious Fraud Office in relation to billion-dollar funds embezzled into Western European real estate.

Previously, she led a team of 40+ high-performing multilingual analysts, tackling global compliance, ESG, fraud, corruption, money laundering, and sanction circumvention risks. Vero is passionate about fostering inclusion, learning, development, and performance.

Michael Haddad
Associate Consultant | Forensic Accounting & Commercial Damages
Toronto, ON, Canada

Michael Haddad has joined HKA’s Toronto FACD team as an Associate Consultant. He completed his Bachelor of Commerce degree at York University with a specialization in Finance. Michael is a registered student of the CBV Institute working towards his Chartered Business Valuator designation.

Michael has experience working in the financial industry, primarily in Asset Management. In his time in Asset Management, he analyzed large datasets and various risk metrics to establish corporate value.

Peter Henry
Associate Consultant | Forensic Accounting & Commercial Damages
Los Angeles, CA, USA

Peter Henry is a recent graduate of the University of Southern California where he studied Public Policy with an emphasis in Data Analytics. He is excited to join HKA full-time after his internship last summer in the Los Angeles office. He is excited to be joining the team and growing his knowledge in the FACD practice.

Margaux Jarry
Associate Director | Forensic Accounting & Commercial Damages
Paris, France

Margaux Jarry has over ten years of experience in international investment and commercial arbitration, in which she applies her economic and financial expertise to complex valuation and damages issues. She also applies her expertise and analytical skills to assist companies on regulatory and strategic matters.

She has assisted French and multinational companies in various countries around the world, particularly in Europe, Middle East and Africa, and her experience covers many industry sectors, including energy, telecommunications and construction.

Before joining HKA in 2024, Margaux worked in the international arbitration department of FTI Consulting in Paris and London. Margaux is based in Paris. Margaux is a graduate of ESCP-Europe (Master in Management, 2013) and of Ecole Supérieure d’Electricité (Supelec) (Degree in engineering, 2013).

Fjolla Kondirolli
Managing Consultant | Forensic Accounting & Commercial Damages
London, UK

Dr Fjolla Kondirolli is a PhD Economist with a strong focus on econometrics. She has extensive experience in causal analysis and applied microeconomics with a proven track record of applying these skills to real-world scenarios.  Her research has been published in various journals and she has presented her work at numerous conferences and seminars. Previously, Fjolla held positions at the London School of Economics, UNDP, Cornell University, and the World Bank Group.

Fjolla holds a PhD in Economics from the University of Sussex, a Master’s in Public Administration from Cornell University, and a B.Sc in Economics and Public Policy from the Rochester Institute of Technology.

Alexander Lee
Director | Forensic Accounting & Commercial Damages
New York, NY, USA

Alexander Lee joins as Director based in New York City. With over 15 years of professional experience, he is a testifying expert specializing in business valuations and damages quantification. Alex has worked on engagements covering a variety of industries, including mining, energy, banking, commodities trading, and real estate development. Using his background in accounting, assurance, and business valuations, he has testified and prepared expert reports for commercial and investor-state disputes in multiple jurisdictions. Alex is recognized in Who’s Who Legal (WWL) Arbitration Future Leaders, Mining, and Thought Leaders USA – Mining guides that highlight the most prominent experts from around the world.

Before joining HKA, Alex worked as a director at AlixPartners. He earned both his Master of Accounting and his Bachelor of Accounting and Financial Management from the University of Waterloo. Alex is a Chartered Professional Accountant (CPA) in Ontario and a Chartered Business Valuator (CBV).

Nollie Mahlangeni
Financial Analyst | Forensic Accounting & Commercial Damages
Johannesburg, South Africa

Nollie Mahlangeni has a wide scope of professional investigation experience, ranging from investigating low-level corruption to high-level complex financial statement fraud, misconduct, supply chain management, theft, and financial misrepresentations. She has a background in accounting as well as internal and external auditing (assurance) which makes her an excellent candidate analysis of complex financial data and interpretation of the data in terms of the allegations raised.

Murray Michell
Partner, Strategic Advisory, Africa
Johannesburg, South Africa

Murray has over 27 years of experience in the advisory field, most recently providing wide-ranging support and guidance to the South African Minister of Public Enterprises in his efforts to stabilise State-Owned Companies (SOCs) such as Eskom (energy) and Transnet (freight logistics and ports). He has also developed approaches to dealing with crime and corruption, which severely eroded the capacity of these entities during the period of state capture in the country.

During Murray’s diverse career, he established South Africa’s anti-money laundering framework and served as Director of the Financial Intelligence Centre. He participated in a wide range of senior government committees, led the country’s participation in the Financial Action Task Force, the Egmont Group of financial intelligence units, which he also chaired, and served on expert panels of the United Nations. 

Recently, Murray provided management support to the work of the Presidential State-owned Enterprises Council (PSEC), during which he delivered a report and proposal to the President of South Africa for the establishment of a State-Owned Holding Company.  

Alyssa Murphy
Global Partner Recruitment Project & ED&I Manager
London, UK

Alyssa joins our London office as a Global Partner Recruitment Project and ED&I Manager. Alyssa will be utilising her experience in education and project management to assist with HKA’s global partner recruitment activities and drive ED&I initiatives globally. Alyssa is excited to work within the people team and wider HKA community

Charles Parekh
Partner, Economics | Forensic Accounting & Commercial Damages
Chicago, IL, USA

Charles Parekh is an expert witness with over 20 years of experience specializing in economic and statistical analysis for finance, healthcare, and public policy issues. His extensive background in dispute consulting and litigation support includes work in class actions, healthcare, education, statistical sampling, and structured finance. 

Dr. Parekh specializes in leading projects that use financial, statistical, and economic modeling to calculate damages and losses. His expertise encompasses the analysis of extensive transactional data to calculate damages in litigation related to financial markets, mortgage transactions, and healthcare billing and coding. He has led statistical and economic modeling teams in various repurchase litigations and bankruptcies, using statistical sampling and analysis to estimate repurchase liabilities. Additionally, Dr. Parekh’s experience includes sampling transactions to detect price fixing, conducting event studies to assess investor damages, applying statistical techniques in internal investigations, and using surveys and regressions to value intellectual property. 

Ryno Pepler
Associate Director | Forensic Accounting & Commercial Damages
Johannesburg, South Africa

Ryno Pepler is an experienced Forensic Accountant with over 20 years of experience. He commenced his career between 1999 and 2013 at Deloitte & Touche. As a Chartered Accountant (SA) and Admitted Attorney, Ryno demonstrates exceptional expertise in forensic investigations, dispute services, and business valuations. His expansive experience includes conducting over 70 forensic investigations across a spectrum of industries, in both private and public sectors. Ryno has specialised in addressing misconduct in all its forms: fraud, theft, corruption, corporate impropriety, accounting discrepancies, and money laundering. His investigations have spanned across numerous African countries (Angola, Botswana, Cameroon, Lesotho, Namibia, Kenya, and Zimbabwe) and European countries (England, Germany, Italy, and The Netherlands), giving him a diverse international perspective.

Praveen Perera
Associate Director | Forensic Accounting & Commercial Damages
Toronto, ON, Canada

Praveen Perera joins our Toronto office as an Associate Director in the Forensic Accounting and Commercial Disputes team. He has more than 10 years of professional experience, mainly assisting clients with economic loss quantification and contentious business valuations.  He has supported clients in a range of litigation matters including shareholder disputes, oppression claims, breach of contract, and expropriations across a diverse group of industries. Praveen is a designated Chartered Professional Accountant and Chartered Business Valuator.

Karen Rayment
Director | Forensic Technical Services
Tampa, FL, USA

Karen Rayment is an experienced forensic electrical engineer who has provided expert witness and litigation support in civil courts nationally. Karen joins HKA as a Director based in Tampa, Florida, with more than 16 years of experience in formal failure analysis engineering, where she has specialized in risk management, regulatory compliance, and product safety for various industries, including data centers, consumer electronics, power grid equipment, sub-sea cables, and home medical devices. Her expertise lies in failure mode and critical effects analysis. Karen works closely with clients and their global engineering teams, quality assurance executives, and the boards of directors, along with manufacturers, corporate counsel, and litigation teams, to help them resolve complex engineering issues.

Before joining HKA, Karen was a Senior Engineer at Amazon Web Services (AWS). She received her Master of Business Administration with a concentration in International Strategic Management from California State University, her Master of Science in Electrical Engineering from San Francisco State University, and her Bachelor of Science in Electrical Engineering and Computer Sciences from the University of California, Berkeley. Karen is a licensed Professional Engineer (PE) in eight states.

Irma Raza
Director | Forensic Accounting & Commercial Damages
London, UK

Irma is a forensic accountant with over 10 years of experience in forensic investigations and disputes, specialising in the quantification of damages and loss for the purposes of commercial and transaction-related disputes. Prior to joining HKA, Irma was a Senior Manager at PWC. 

Irma has assisted lawyers and clients on a wide range of arbitral proceedings (DIAC, ICSID, ICC, LCIA) and the UK High Court, and provided expert witness support for loss-of-profits claims, breach of contract disputes, and transaction-related disputes, including breach of warranty, claims, and earn-out disputes. 

Olivia Trevena
Associate Consultant | Government Contracts
Washington, DC, USA

Olivia Trevena recently graduated from the George Washington University in May 2024, with a Bachelor of Science degree in International Business. She rejoins HKA as a full-time employee in the Washington, D.C. office, following a summer internship in Government Contracts. Olivia looks forward to collaborating with colleagues on both international and domestic projects and increasing her knowledge of consultancy.

Rex Tse
Associate Consultant | Claims
Chicago, IL, USA

Rex Tse has recently graduated from the University of Illinois at Urbana Champaign (UIUC) with a Bachelor’s of Science and Master’s of Science Degree in Civil and Environmental Engineering. He completed three previous internships within the construction industry as part of teams of general contractors and owners’ representation joint venture groups working on projects in the transportation, aviation, and residential industries.

Carlos Turizo
Director | Forensic Technical Services
New York, NY, USA

Carlos Turizo, a forensic structural engineer, brings more than 20 years of experience in the construction, engineering, and forensic investigation fields. He specializes in investigating large and complex losses in the infrastructure, energy, utility, commercial, and residential industries. Carlos has provided forensic engineering services to an array of professionals, ranging from attorneys and insurance executives to property owners and contractors, throughout the Western Hemisphere. He has also served as an expert witness and lead expert in arbitration and litigation on numerous occasions.

Carlos, who previously served as an Independent Consulting Expert with HKA, now steps into the role of Director based in New York City. He received his Master of Business Administration at Pennsylvania State University, his Master of Science in Civil Engineering at the University of Central Florida, and his Bachelor of Science in Civil Engineering at the Universidad Nacional de Colombia. Carlos is a licensed Professional Engineer (PE) in Florida and Colombia, and a Special Inspector registered in Florida.

Scott Van Meter
Partner | Forensic Accounting & Commercial Damages
Houston, TX, USA

Scott Van Meter joins as Partner based in Houston, TX. He has over 35 years of experience in litigation consulting, bankruptcy and restructuring, valuation, and forensic accounting. Scott provides financial advisory and litigation support to clients, including plaintiffs, defendants, corporations, debtors, and creditors. He has been designated as an expert witness in more than 100 complex disputes involving commercial, intellectual property, accounting/auditing malpractice, valuation, and economic damages throughout North America and Europe. Additionally, his expertise has extended to providing testimony in bankruptcy-related disputes, including avoidance matters, solvency, and claims litigation.

Before joining HKA, Scott was a managing director at B. Riley Financial. He received his Juris Doctorate (JD) from Stetson University College of Law and his Bachelor of Business Administration and Accounting from Washington and Lee University. Scott is a certified public accountant (CPA) licensed in Texas and Florida and a Certified Insolvency and Restructuring Advisor (CIRA). He is also Certified in Financial Forensics (CFF).

Discover more of our talented experts.

Looking for your next career move?

Explore our Expert Centre
Explore our latest opportunities

Welcome to our new colleagues – June 2024

News

Welcome to our new colleagues – June 2024

30th July 2024

In June 2024, we welcomed 21 new colleagues to our global team.

This included strengthening our Forensic Accounting and Commercial Damages with seven people, including adding Rob Shull as a Partner in our practice in Toronto.

We’re always looking to expand our team; please take a look at our current vacancies to see our latest opportunities.

Aydan Almanza
Associate Consultant, Forensic Accounting & Commercial Damages
Phoenix, AZ, USA

Aydan Almanza joined our Phoenix office as a recent graduate of the University of Arizona, receiving a bachelor’s degree in business administration with a focus in Finance. She gained experience in finance and accounting experience interning as an Underwriter for a commercial real estate company and an Analyst at an investment bank.

Paul Bosua
Senior Consultant, Construction Claims and Expert Services
Johannesburg, South Africa

Paul Bosua is a chartered construction professional with over 18 years of experience in EPC, EPCM, and PMC environments. He is experienced in executing major capital and maintenance projects (corrective and preventative) across diverse sectors, such as Petrochemical, Power Generation and Energy, Mining, Agriculture, Water Management, and Air Infrastructure.

Hamida Butler
Senior Business Support Administrator
Washington, DC, USA

Hamida Butler joins our Washington, DC office, having 20 years’ experience as a Business Management Office Manager and in Facility Management.

Hamida has a wide range of experience working for various CEOs across a wide range of companies. She also has experience in healthcare working across different specialties.

Marian Cantrell
Director, Forensic Accountant & Commercial Damages
London, UK

Marian began her career with PKF in 2007 and later joined FTI from 2009-2013.  Having initially specialised in both fraud investigations and disputes, she became expert-focused on joining Haberman Ilett in 2013. She has worked on over 60 cases including post-transaction, shareholder, and contractual matters.

Marian specialises in forensic accounting and is adept at advising clients on a wide range of accounting and quantum disputes, including commercial litigation, international arbitration and expert determination. Her wider forensic experience includes professional negligence, fraud and accounting investigations, monitoring trustee appointments and financial reporting projects.

Cade Carley
Associate Consultant, Claims & Dispute Resolution
Minneapolis, MN, USA

Cade Carley joined our Minneapolis as an Associate Consultant in Construction Claims. He has previous consulting experience in venture capital and startups, and has conducted academic research on topics in the intersection of law and politics.

Cade graduated from the University of Minnesota with a B.S. in Finance and is incredibly excited to be a part of HKA and grateful for the opportunity to develop his knowledge in construction claims.

Martinnque Du Toit
Senior Consultant, Construction Claims and Expert Services
Johannesburg, South Africa

Martinnque Du Toit is a logical, self-motivated, and resourceful Contract Manager working as part of a team, effectively developing and managing construction projects by coordinating with consultants and clients. She has proven abilities in examining requirements and plans to create proposals, possessing excellent foresight and attention to detail when working on construction projects.

Justyna Gebala
Business Support Administrator
Chicago, Il, USA

Justyna Gebala joins our Chicago office, having previously worked with a fintech digital marketing agency, focusing on business operations and project management.

Justyna graduated from DePaul University in the Spring of 2020 with a B.S. in Business Administration. She is a multi-lingual Chicago native with a wide range of work experience and is looking forward to bringing her knowledge and experience to HKA.

Margot Hoornaert
Business Support Administrator
London, UK

Margot Hoornaert joins our London office as Business Support Administrator after a 10-year career as a legal practitioner in Belgium.

She is passionate about planning, organising, and providing administrative support. Margot is excited to pursue her career at HKA and acquire new skills, as well as pursuing personal and professional growth.

Stéphanie Issa
Manager, Claims
Montréal, QC, Canada

Stéphanie joined our Montréal office, bringing a joyful blend of expertise to the construction industry, backed by a master’s degree in project management in Engineering from Université de Sherbrooke and a Bachelor of Civil Engineering from Concordia University. With nearly a decade of experience, she thrives in project management, estimating, planning, project control, contract administration, fluently navigating bilingual environment in English and French. She has a passion for leading proposals across vibrant sectors such as healthcare, recreation, mining, transportation, and energy in Canada.

Zenhar Marolia
Associate Director, Advisory
Dubai, UAE

Zenhar Marolia has fourteen years of experience in providing commercial strategy modelling, risk management, procurement analysis and advisory services to clients.

He is adept at integrating risk with value management and has a wealth of knowledge in modeling for both cost and schedule management. Zenhar has worked on projects across a wide range of sectors including embassies, real estate, oil and gas, rail and aviation.

A qualified Civil Engineer, Zenhar holds a master’s in interdisciplinary design from the University of Cambridge. He also obtained an MBA Essentials certificate from the London School of Economics and is a certified Technical Specialist from the Institute of Risk Management.

Poornima Nandakumar
Global People Systems Administrator
Warrington, UK

Poornima Nandakumar is an HR professional with over four years of experience in the field. She has facilitated HR automation and transformation projects for companies across various sizes and industries. Known for her curiosity and commitment to learning, she holds a two master’s degree in HR and a Level 5 CIPD Qualification.

Esther Paterson
Head of Proposals, Business Development
Glasgow, UK

Esther Paterson has over 15 years of experience leading high-profile proposal functions for domestic and international customers. Over the course of her career, she has set up and led high-performing proposal and capture functions to drive efficiencies, increase win rate and enhance the way companies understand and respond to customers.  

Esther is incredibly passionate about diversity and inclusion, including building inclusive teams, engaging with community impact strategies and developing and mentoring others.

Nicholas Porter
Financial Analyst, Finance
New York, NY, USA

Nicholas Porter joins our New York office, having previously worked in several supply chain and procurement focused roles with a focus in analytics and contract negotiation and has most previously served as a sourcing analyst.

Nicholas graduated from Rutgers University with a degree in Mathematics. He looks forward to leveraging and applying knowledge and skills at HKA.

Sam Riley
Associate Technical Director, Forensic Technical Services
London, UK

Sam Riley joins our London office as an Associate Technical Director in the Forensic Technical Services’ Building Team. He is a chartered structural engineer with some 15 years of experience working in the construction industry, including 4 years working as a forensic structural engineer.

Sam has been involved in providing advice and preparing expert reports for clients on more than 30 projects across Europe, Asia and Australasia, has provided evidence at mediation and has conducted several expert meetings. He looks forward to furthering his experience at HKA.

Rob Shull
Partner, Forensic Accounting & Commercial Damages
Toronto, ON, Canada

Rob is an expert with more than twenty-five years of professional experience helping clients with complex financial modeling, data capture, damage quantification, and administration of class action litigation. He has conducted numerous assignments related to allegations of management and employee fraud where he has provided sound, reliable quantification of damages in matters across a variety of industries.

Rob specializes in contract compliance, investigations, litigation support, damage and lost profit calculations across various industries, including construction, financial services, retail, manufacturing, oil and gas, mining, and municipal, provincial, and federal government. Rob has experience preparing expert reports for matters heard in the Court of King’s Bench of Alberta, the Ontario Superior Court of Justice, and the Supreme Court of Canada. He has testified as a qualified expert in commercial litigation and arbitration matters in Ontario.

Mithun Sood
Bid Operations Lead
Melbourne, VIC, Australia

Mithun Sood joins our Melbourne office with over 15 years of experience across engineering, project management, and business development. He brings extensive experience in leading cross-functional teams, driving winning bids, and orchestrating major pursuits across a broad spectrum of industries.

Mithun has garnered a reputation for excellence in bringing strategic focus to sales, where he excels in uncovering market opportunities, architecting innovative positioning strategies, and cultivating robust stakeholder partnerships throughout the sales journey.

Mithun is a passionate advocate of diversity and mental health, creating a culture of respect and inclusivity. Before joining HKA, Mithun served as a Sales Operations Manager at Jacobs. He holds a Master of Business Administration and a Bachelor of Technology in Civil Engineering, reflecting his unique blend of technical and business expertise.

Xavier Tarica
Senior Managing Consultant, Forensic Accounting & Commercial Damages
Paris, France

Xavier Tarica joins the Paris office as a Senior Managing Consultant in the Forensic Accounting and Commercial Damages team. He has over 5 years of experience in international arbitration and investigations and 2 years of experience in private equity.

Xavier, holds an Msc in Corporate Finance and a Master’s degree in accounting.

Pamela Verick
Principal, Forensic Accounting & Commercial Damages
Washington, DC, USA

Pamela Verick joins as Principal based in Washington, DC. She has over 25 years of experience in global fraud risk management, data-driven compliance programs, and triaged responses to unplanned events. Pam specializes in bribery and corruption risk, culture and conduct, ethics, integrity, compliance systems, fraud governance and risk management, and fraud and misconduct investigations. She is a recognized forensic advisory leader who has provided forensic advisory and investigation assistance in 40 countries across six continents. She has experience working with legal and compliance counsel, board members, C-suite executives, and senior management.

Before joining HKA, Pam worked as a director in the forensic practices of a globally recognized consulting organization and Big Four accounting firm. She received both her Master of Science in Justice/Judicial Administration and a Bachelor of Arts degree in Justice from American University. She is a Certified Fraud Examiner (CFE) and a Certified Compliance and Ethics Professional (CCEP).

Suye Wang
Senior Associate Consultant, Forensic Accounting & Commercial Damages
Dallas, TX, USA

Suye Wang has joined our Dallas office as a Senior Associate Consultant, having research experience in corporate governance and financial accounting.

She graduated from the University of Texas at Arlington with a Masters in Quantitative Finance and Accounting, as well as a Ph.D. in Accounting. She is a Certified Public Accountant (CPA) and a Certified Fraud Examiner (CFE).

Claire Waters
Digital and Communications Director
London, UK

Claire Waters has 20 years of experience in marketing and digital roles and has spent the last decade building and running marketing functions at professional service firms, nationally and internationally. 

She specialises in developing firms’ digital presence through project managing high-performing websites, creating integrated communications campaigns, and maximising the exposure of thought leaders through articles and social media. Claire is incredibly passionate about all things digital and enjoys empowering others to grow their brands and demonstrate their expertise online

Tim Welch
Associate Consultant, Forensic Accounting & Commercial Damages
San Francisco, CA, USA

Timothy Welch joins our San Francisco office as a recent graduate of University of California Berkeley where he studied Economics and Data Science. . He is deeply interested in leveraging statistical and financial tools to estimate economic damages related to intellectual property infringement. He is excited about joining the HKA team where he can develop his knowledge of intangible asset valuation and economic expert support.

Discover more of our talented experts.

Looking for your next career move?

Explore our Expert Centre
Explore our latest opportunities

HKA honours Mandela Day by supporting children at New Jerusalem Children’s Home in Johannesburg

ESG

HKA honours Mandela Day by supporting children at New Jerusalem Children’s Home in Johannesburg

25th July 2024

To honour Mandela Day, the HKA team in South Africa visited New Jerusalem Children’s Home in Johannesburg on Thursday 18th July 2024, to host a Career Day.

This year, Mandela Day encouraged us to impart knowledge and empower the next generation. Inspired by Nelson Mandela’s quote: “Education is the most powerful weapon which you can use to change the world”, we held our Career Day as part of our Community Impact initiative.

New Jerusalem Children’s Home provides holistic and integrated quality care for vulnerable children.

They have been championing children’s rights for over 21 years and currently accommodate 117 children, from infants to young people aged 21.

Our Career Day aimed to share knowledge, backgrounds, and experiences in the various career paths we have within HKA, with the hope of inspiring and encouraging the children to know that every dream is attainable. With attendance by children from Grades 6 to 10, the day was directed by Tshiamo Nkomo, Consultant, with Thabiso Ntjepela, Senior Consultant, opening with an introduction to HKA for the children.

Our inspiring speakers included Sonia Guerra, Associate Director, Wisani Bila, Associate Director, Lihle Ntshangase, Marketing Manager, and Rethabile Molapo, Information Technology Site Support Analyst.

We donated calculators, educational charts, counting games, chairs, tables, netballs, volleyballs, and soccer balls to support the children’s educational and physical needs.

We also provided appliances to support the running of the home and ensure the children’s overall needs are catered for, including urns, heaters, microwaves, and semi-industrial washing and dryer machines, worth over $6,000 (R114,402.91).

At the end of the day, we enjoyed lunch together.

Mr. Hopkins from the home said, “When HKA initially visited the home to engage with us and understand where our needs are, we shared a lot of the challenges we face but didn’t know HKA would come through for us the way they did; we are truly grateful.”

Thank you to the Community Impact team, Linda Bikitsha, Consultant, and Tim Harwin, Partner, our Johannesburg Community Team Committee Neliswa Tilese, Consultant, Kgotso Sebola, Consultant, Thembi Maluleke, Consultant, all HKA colleagues who attended, and New Jerusalem Children’s Home for a successful Mandela Day.

To donate to New Jerusalem Children’s Home, please visit their website.

Find out more about our ESG work

HKA recognised as a leading firm with 46 appearances in Consultancy’s international rankings

News

HKA recognised as a leading firm with 46 appearances in Consultancy’s international rankings

8th July 2024

HKA celebrates six regions featured in Consultancy’s international consulting firm rankings.

Consultancy’s web-based global advisory and consulting news platform ranks the market’s leading performers by service and industry. HKA is delighted to be featured in 46 lists across six regions.

Their rankings are based on “proprietary research by Consultancy.org, and the views of thousands of clients (i.e. buyers of consulting services), consultants and industry staff, job seekers and graduates. The data spans all segments of the consulting landscape, from strategy, management and organisation to mergers & acquisitions, finance, supply chain, human capital and dozens of other areas of expertise.”

HKA is awarded Gold to Diamond level across ten lists in both the United States and Europe. These include Diamond for Forensic & Litigation and Construction and Platinum for Aviation and Oil & Gas.

In the United Kingdom, HKA is featured in eight lists, including Diamond for Forensic & Litigation and Construction and Platinum level for Management.

In the Middle East rankings, HKA is awarded Diamond for Forensic & Litigation and Platinum for Construction, Management, and Project Management.

In the Asia rankings, HKA is awarded Diamond for Forensic & Litigation and Construction.

In Australia, HKA is awarded Diamond for Forensic & Litigation and Construction, and Platinum for Management and Project Management.   

“I’m immensely proud that we have been recognised in Consultancy’s international rankings across 46 lists at Diamond, Platinum and Gold levels. It is a fantastic testament to our team’s extensive expertise across multiple industries and showcases our unwavering commitment to excellence and the exceptional service they provide to our clients.” 

Renny Borhan, Partner & CEO

Our rankings in full

USA

DiamondPlatinumGold
Forensic & LitigationAviationAerospace
ConstructionOil & GasEnergy
Financial Services
Hospitality & Travel
Maritime
Real Estate

Europe

DiamondPlatinumGold
Forensic & LitigationAviationAerospace
ConstructionOil & GasEnergy
Financial Services
Hospitality & Travel
Maritime
Real Estate

United Kingdom

DiamondPlatinumGold
Forensic & LitigationManagementAerospace
ConstructionAviation
Energy
Oil & Gas
Real Estate

Middle East

DiamondPlatinum
Forensic & LitigationConstruction
Management
Project Management

Asia

DiamondGold
Forensic & LitigationAerospace
ConstructionAviation
Energy
Financial Services
Hospitality & Travel
Maritime
Oil & Gas
Real Estate

Australia

DiamondPlatinum
Forensic & LitigationManagement
ConstructionProject Management

ABOUT HKA

Headquartered in the UK, HKA is a leading global consultancy in project advisory, risk mitigation, dispute resolution, expert witness and litigation support services.

HKA brings a proud record of excellent service and high achievement to bear on today’s challenges. As trusted independent consultants, experts and advisers, we help clients manage disputes, risk and uncertainty on complex contracts and challenging projects. Our advice is impartial, incisive and authoritative.

We work with government agencies, local authorities, contractors, legal firms, and other professional service providers, as well as owners and operators, financial institutions and insurers. HKA’s global portfolio includes some of the world’s largest and most prestigious commissions across a wide range of industries, including aerospace and defence, buildings, energy and natural resources, environment and climate change, financial services, healthcare and life sciences, industrial and manufacturing, marine and shipping, mining and metals, oil and gas, power and utilities, real estate and tourism, sports and entertainment, technology, media and telecomms and transportation infrastructure.

HKA has in excess of 1,000 experts, consultants and advisors across 45+ offices in 17 countries with the skills and experience that are essential to get to the heart of even the most complex issues. Our people have vast first-hand experience spanning all major industries and the world’s most complex megaprojects, as well as an international track record of achieving successful outcomes.

Media contact

NameClaire Waters
TitleDigital and Communications Director
Number+44 20 7618 1200
EmailClaireWaters@hka.com
Contact Us
© 2026 HKA Global Holdings Limited
X

Follow HKA on WeChat

关注我们的官方微信公众号

HKA WeChat