Tiago Duarte-Silva

Vice President

Dr. Tiago Duarte-Silva is a testifying expert with more than 20 years of experience who has advised investors and provided written and oral testimony or expert advice in over 120 disputes.  He has worked on behalf of corporations and their officers and directors, sovereign states and entities, private equity firms, financial institutions, auditors, the Securities and Exchange Commission, and other US and foreign regulators.  Dr. Duarte-Silva is also an Adjunct Professor at Boston College, where he teaches valuation to graduate and MBA students.

At Charles River Associates, he has provided expert opinions and testified at trial, hearing, and deposition in domestic and international arbitrations, both commercial and investor-state (e.g., ICSID, PCA, ICC, LCIA, HKIAC, JAMS, AAA, UNCITRAL), in US litigation (federal and state courts), in foreign litigation (Brazil and Australia), and before the US Department of Commerce.

His expertise in commercial and investment disputes focuses on quantum of lost value or profits due to breach of contract, breach of warranties or representations, direct or indirect expropriation in investment treaty arbitrations, reputational harm, and irreparable harm, as well as valuations related to countervailing duties, appraisal actions, minority shareholder oppression, failing firm analyses, and various kinds of M&A disputes and price adjustments.

He also has considerable experience in securities and other financial markets disputes, such as advising on market manipulation matters, fraud-on-the-market assessments, damages or settlement analyses within Rule 10b-5 and Section 11 matters, and insider trading.

His case experience spans various industries, such as financial services, technology, pharma, manufacturing, infrastructure, telecoms, media, oil & gas, and mining.

Dr. Duarte-Silva frequently writes and presents about damages, quantum, and other economics themes, and has published in various outlets, such as the Journal of Financial Economics, the Journal of Applied Corporate Finance, Finance Research Letters, the Journal of International Arbitration, Law360, Global Arbitration Review, and the World Arbitration and Mediation Review.  He has also refereed articles for peer-reviewed journals, such as the Journal of Law and Economics, Journal of International Arbitration, and Business Valuation Review.  He has been a speaker at MIT, Harvard Law School, law firms, other institutions, and conferences.

He is on the Advisory Boards to the New York International Arbitration Center, the Boston International Arbitration Council, and the ICCA-ASIL Task Force on Damages in International Arbitration.

Dr. Duarte-Silva has testified in English, Portuguese, and Spanish.  He is a native speaker of Portuguese, perfectly fluent in English, conversant in Spanish, and has a reading knowledge of French.

Selected Engagements

  • 01
    Arbitration in financial services industry involving fixed-income instruments in emerging market
    In an international arbitration at the LCIA, CRA assisted a client by assessing the value and marketability of bespoke fixed-income instruments in Eastern...
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  • 02
    Per Share Inflation Estimate Due to Alleged Inaccuracies
    CRA was retained by counsel for a leading accounting firm in a securities class action litigation filed in United States District Court in the District of...
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  • 03
    Gabriel Resources Ltd. and Gabriel Resources (Jersey) v. Romania (ICSID Case No. ARB/15/31)
    James Burrows testified on behalf of Romania over $4 billion in claims in an ICSID arbitration launched by a Canadian mining company. CRA’s work focused on the...
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