Guaracachi America, Inc and Rurelec PLC (collectively, “claimants”) brought an arbitration under UNCITRAL rules against the Plurinational State of Bolivia (“Bolivia”) relating to the nationalization in 2010 of claimants’ interest in Empresa Eléctrica Guaracachi, S.A. (“EGSA”), a power generator in Bolivia. Claimants also alleged that they were negatively impacted by certain regulatory changes that occurred in 2007 and 2008. Econ One was retained by counsel for Bolivia to assist on quantum issues. Dr. Daniel Flores submitted two expert reports (in Spanish) in which he calculated the fair market value of EGSA, as well as the economic impact on EGSA of those regulatory changes. Dr. Flores testified at the hearing on this matter.