David Aliaga | Senior Managing Director | FTI Consulting
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David Aliaga

David Aliaga

  • Senior Managing Director
  • Forensic & Litigation Consulting
  • T: +34 91 524 4851
  • F: +34 91 524 3877
Connect with Me:
Office
    • Paseo de Recoletos 3
    • 3rd Floor
    • Madrid, 28004
    • Spain
    • T: +34 91 524 3840
    • F: +34 91 524 3877
Education
Expertise

David Aliaga is a Senior Managing Director in FTI Consulting's Forensic & Litigation Consulting practice, based in Madrid.

David has 20 years’ professional experience in accounting and finance, having worked in the audit, transaction services and corporate finance departments of both PwC and EY. Since 2004 he has specialized in Dispute Analysis & Forensic Investigations and Business Recovery and Restructuring Services.

David has worked in a wide range of litigation/arbitration support, fraud investigations and consequential damage calculations projects across Spain, Europe and Latin America. In addition, David regularly advises on financial and operational restructuring and Concurso Mercantil (the Spanish equivalent of Chapter 11).

Litigation/Forensic Cases:

  • Appointed by the Kingdom of Spain and Republic of France to provide independent expertise in the context of a claim from a construction consortium regarding the price evolution of certain raw materials (oil, steel, etc.) and its impact on the construction cost and the economic equilibrium of the concession contract. Drafted expert report and provided evidence before the tribunal. Ad-hoc arbitration, €350 million.
  • Independent expert for AEDA and ADESUR associations to quantify damages and prejudices suffered from regulation changes in the ginning sector. Luxembourg Court, €75 million claim.
  • Evaluation of the reasonability of claim amount required by American movie producer against one major Spanish editor related to audio-visual rights. London arbitration Court, £8 million claim.
  • Advised in a dispute related to an M&A (price adjustment) between Telefonica and Prisa. Local arbitration, €45 million claim.
  • Assessed the conformity of claims relating to an M&A dispute between a British company (defendant and client) and a Spanish corporation (claimant). Drafted the expert report and assisted in negotiations (agreement reached before trial). ICC, €40 million.
  • Assessed the Spanish GAAP conformity of claims related to an M&A dispute between a British company (defendant and client) and a Spanish corporation (claimant). Drafted the expert report and assisted in negotiations (agreement reached before trial). ICC, €40 million.
  • Quantified damages suffered by the principal shareholder of ABENGOA. Expert report provided and defense in Civil Court. Local jurisdiction, €1.000 million.
  • Advised on the fraud investigation and damages quantification suffered by the bondholders of a Bank. Expert report provided and defense in Criminal Court. Local jurisdiction, €850 million.
  • Appointed by Orange to quantify damages and loss of profit resulting of contract breach between the firm and its distributors in Spain. Expert reports and defense in Civil Court. Local jurisdiction +/- €100 million claim.
  • Advised a major solar parks promotor in the quantifying of damages and lost profits resulting from regulation changes of photovoltaic sector. Local jurisdiction, €40 million claim.
  • Quantified damages related to cancellation distribution contract with Motorola. Expert report provided and defense in Civil Court. Local jurisdiction, €40 million.
  • Assessed the contract signed between a co-generation plant and its principal. Local jurisdiction, €4 million claim.
  • Advised on the cancellation of a distribution contract with Motorola. Expert report provided and defense in Civil Court. Local jurisdiction, €40 million.
  • David has been involved in more than 90 hearings.

Due Diligence and Debt Restructuring:

David has led more than 60 financial due diligence and debt restructuring engagements in a variety of sectors: automotive, IT, pharma, renewables, retail, services, manufacturing, utilities, banking, etc. His work typically encompasses carve-out issues, normalization of non-GAAP indicators, recommendations on SPA clauses (price adjustment mechanisms and guarantees) and post-deal integration services.

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