The need
Attorneys representing the plaintiffs in their case against a municipal power agency needed an expert in municipal finance to develop their case. The defendant had made a deal to finance a new power plant via swap contracts, or agreements between two parties to exchange cash flows or liabilities. When the power plant plan fell through, the agency was unable honor the terms of the swap contracts, resulting in $100M in termination fees. The plaintiffs felt these fees were an excessive debt for the municipality to shoulder and argued that it was inappropriate for the agency to pursue such risky financing. Therefore, the expert would need to be able to opine on whether the financing scheme was, in fact inappropriate.