- Senior Managing Director
- T: +44 20 3727 1353
- F: +44 20 3727 1007
- 200 Aldersgate
- Aldersgate Street
- London, EC1A 4HD
- United Kingdom
- T: +44 20 3727 1000
- F: +44 20 3727 1007
- B.Sc., (Hons), Mathematics, University of Warwick
- Chartered Accountant
- Fellow of the Institute of Chartered Accountants of England and Wales
- Economic Consulting
- Expert Testimony
- Intellectual Property
- International Arbitration
Noel Matthews is a Senior Managing Director at FTI Consulting based in the London office. He has provided financial and economic consulting advice to clients for over fifteen years. His experience includes financial advice in the context of disputes, valuation, intellectual property, economic regulation and corporate strategy.
Since 2006, Mr. Matthews’ practice has focused on expert financial advice in international arbitration and domestic litigation. Typically, this involves the quantification of lost profits, business valuation, assessments of wasted costs, intellectual property, or advice relating to accounting matters.
Mr. Matthews has been appointed as expert witness and prepared reports in matters before arbitral tribunals and the UK’s High Court, and given testimony as an expert witness before an ICC arbitral tribunal. During the course of his career he has assisted in the preparation of expert reports in over 40 matters. Mr Matthews’ experience includes the preparation of reports for submission to the UK Courts, as well as to ICC, ICSID, DIAC, LCIA, and CAS tribunals, and tribunals convened under UNCITRAL rules. He has also assisted in the preparation of reports for government departments, other national courts, tax authorities, and competition and regulatory bodies.
Mr. Matthews has been certified as an expert witness by Cardiff Law School, having completed the assessments of the Cardiff University Law School Bond Solon Expert Witness Scheme. He regularly provides training to law firms on issues associated with the quantification of economic losses.
Mr. Matthews is a graduate of the University of Warwick and a Fellow of the Institute of Chartered Accountants.
Selected professional experience
- ICC Arbitration: Calculation of losses suffered by a Latin American financial institution arising from reputational harm caused by high-profile police investigations relating to key personnel of the business. Mr Matthews was jointly instructed as the quantum expert and provided oral testimony to the tribunal.
- UK High Court: Mr Matthews was instructed to provide written expert evidence regarding the effect on the value of certain pension obligations from the granting of security over those obligations. Evidence was provided in the context of a dispute between a UK company and the trustees of a pension fund.
- UK High Court: Mr Matthews was instructed to provide expert evidence on the effect of additional liabilities on the value of a shareholding in a UK sports business. The evidence was provided in the context of an alleged breach of warranty following the sale and purchase of the business. The case settled shortly before trial.
- ICC Arbitration: Calculation of losses in a multi-billion dollar dispute between a petrochemicals business and a state owned Middle Eastern investor, heard by an ICC tribunal based in London. The scope of work related to the consequential losses arising from the withdrawal of the investor from a proposed joint venture between the parties. Mr Matthews led the team supporting the testifying expert.
- Delayed construction of a power plant, ICC Arbitration: Assistance to the testifying expert in an assessment of a large counterclaim comprising lost profits, additional costs arising from alleged delays and other forms of contractually stipulated damages. The counterclaim is made in the context of a long-running and ongoing dispute between the purchaser and supplier of a new power plant.
- Calculation of lost profits in BSkyB v EDS, a UK litigation before the Technology and Construction Court. The claimants made claims in respect of a project to develop a customer relationship management (CRM) system.
- Quantification of loss in a dispute between a licensor and licensee of a well-known consumer imaging trade mark, heard by an ICC tribunal. Losses resulted from a delay of certain sub-licences being granted by the licensee.
- Assessment of losses arising from alleged breaches of competition law in a dispute heard by the High Court. The dispute was between a recycler of waste electrical and electronic equipment (WEEE) and a producer compliance scheme (PCS). The claimant alleged that the PCS was in breach of competition law relating to the abuse of a dominant position.
- Fraud investigation relating to a securitisation programme. The scope of work included the analysis of accounting issues relating to the securitisation of trade receivables by a European food company.
- Valuation of an opportunity to build a container port in Turkey. Advice provided in a dispute, heard by an ICC tribunal in London, between former joint venture partners regarding an opportunity to build a container port in Turkey.
- Calculation of losses suffered by an English football club following its relegation from the English Premier League, in an arbitration pursuant to Rule K of the rules of the Football Association.
- Advice to a major international oil and gas company on the appropriate cost of capital to apply in discounted cash flow analyses when appraising new investment opportunities.
- Fairness opinion on the value of a private equity portfolio: Advice regarding the valuation of debt and equity investments in approximately 30 European companies. The investments were being sold by a private equity fund for an amount in excess of £750m
- Cost of capital advice to Ofgem, the government regulator for the electricity and downstream natural gas markets in Great Britain, in relation to the regulated cost of capital applicable in the “RIIO-T1” and “RIIO-GD1” price controls.
- Valuation of a subsidiary of a major infrastructure services business in the context of a corporate re-organisation.
- Valuation a major European golf brand as part of the due diligence process undertaken by a potential acquirer of the business.
- Valuation of music rights. For a number of years, Mr. Matthews has provided assistance to a major broadcaster in negotiations with the owners of certain music copyrights in relation to the amounts payable for the right to broadcast music on radio and television
- Pricing advice relating to copyright. Across a series of engagements, Mr. Matthews has provided advice to a collecting rights organisation on appropriate pricing structures and levels for its licences.