Jamal Awil

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Arbitration panels award generous punitive damages when damages prove hard to value. [causal]

Even the expert diamantaires who sit on the DDC's arbitration panel have difficulty accurately valuing lost profit and business opportunities forgone. They are allowed to award punitive damages, however, and usually err on the side of generously compensating the promisee for alleged lost profit. They render their decisions quickly so as to minimize the number of business opportunities the promisee will have to forgo when he is not paid.

Lisa Bernestein, Opting out of the Legal Sys…, loc. 154