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Craig has primary experience in assisting companies with damage analysis, financial modeling, valuation, due diligence, business interruption, and business consulting issues associated with litigation, accounting investigations and insurance claim recovery. He has additional experience assisting companies in preparing business plans and representing companies and creditors in bankruptcy, litigation, and financial advisory capacities in the telecommunication, utility, financial, hospitality, retail, manufacturing, and construction industries.
Professional Experience
Litigation and Financial Consulting Managed approximately 15 engagements for a large telecommunication carrier involving resellers of long distance telecommunication service. Resellers sought lost profits and damages up to $600M. Modeled past and future lost profits in 'but-for' world using various accounting, economic, statistical and financial techniques including extensive use of regression techniques, discounted cash flow modeling and Compustat comparative modeling.
Managed engagement for a Fortune 500 hospitality company involving a $1.5B dispute with a telecommunications reseller. Dispute involved the value of telecommunication and enhanced services (e.g., high speed internet access and video-on-demand) to be provided by the reseller to the hospitality company based on an alleged exclusive worldwide joint venture arrangement. Assessed the proper measure of damages in this matter and rebutted the opposing expert's valuation of the resellers 0+, 1+, local access and enhanced service offerings to the hospitality company. Key analyses included: assessing telecom price rates, calling volumes, commissions, margins, capital expenditures, discount rates, terminal value assumptions and alleged profit sharing arrangements between the parties.
Managed engagement to provide litigation support in a post acquisition dispute between a component distributor and the largest electronics component manufacturer in the country. The engagement involved valuing the component distributor based on a complex put/call purchase formula.
Investigated alleged accounting errors and irregularities in the financial statements of a public manufacturing company. Issues under review included revenue recognition, inventory accounting, expense deferrals and other misapplication of generally accepted accounting principles. The investigation resulted in the removal of senior management and the restatement of prior-period financial results. Investigation team reported to the audit committee and board of directors and appeared before the DOJ, FBI, the present and former auditors and the Company's lending group.
Managed an engagement involving dispute relating to the alleged under reporting of royalty payments associated with a complex software licensing agreement between Fortune 500 companies. Matter involved analyzing a transactional database containing over 2 million electronic records representing approximately $5B in sales and recalculating royalty payments based on adjustments to a complex royalty formula triggered by the sale of a specific security software code.
Managed engagement for a debtor in bankruptcy to assist in the preparation of an expert report including lost profit calculation for telecommunication service to large hotel chain. Report included modeling lost profit using discounted cash flow methodologies and assessing the validity of opposing expert's computations.
Managed multiple simultaneous engagements stemming from the September 11, 2001 World Trade Center attacks. Engagements involved preparing claim estimates for companies impacted by the attacks. Claims included assessing extent of asset impairment, extra expenses incurred to restore operations and extent of business interruption. Coverage for these claim estimates exceeds $400M.
Education & Certifications
Master of Business Administration, Accounting, Union College, Schenectady, New York
Bachelor of Arts, Economics, Union College, Schenectady, New York
Certified Public Accountant (New York since 1994)
Professional Associations
American Institute of Certified Public Accountants | 