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Managing Principal Joshua White and Principal Jessica Resch on Expert Hot Tubbing in International Arbitration

30 July 2026

Analysis Group and Latham & Watkins recently hosted an event in London for the Chartered Institute of Arbitrators’ (CIArb) Young Members Group on the use of expert witness conferencing in international arbitration, often referred to as “hot tubbing.”

Analysis Group Managing Principal Joshua White and Principal Jessica Resch acted as opposing experts in a hypothetical damages case study. Latham & Watkins Associate Shreya Ramesh took the role of tribunal chair, guiding the experts through the key issues and testing the areas of agreement and disagreement. The case study showed that conferencing is not just a procedural concept, but an approach that can shape how expert evidence is presented, tested, and understood. The discussion was co-moderated by Analysis Group Manager Arjun Dasgupta and Latham & Watkins Associate Evangeline Tsui.

Hot Tubbing Can Take Several Formats

Expert witness conferencing is not a single fixed procedure. The demonstration compared two different approaches: In one, the tribunal led, putting questions to both experts and inviting them to respond to each other’s views in real time, keeping the discussion tightly focused on the issues the tribunal considered most important. In the other, the experts led with the technical points they considered central and engaged more directly with each other’s analysis. This gave the tribunal a different perspective on where the experts themselves saw the points of disagreement.

In practice, many cases may benefit from a hybrid approach: conferencing with a clear structure and agenda, tribunal control where needed, and room for experts to engage directly as issues emerge.

Where Witness Conferencing Can Work Well

At its best, expert witness conferencing can be a highly effective way to clarify technical evidence. Rather than hearing from experts sequentially, sometimes days or even weeks apart, the tribunal hears them address the same question side by side, making it easier to see where the experts genuinely disagree.

This can be particularly useful in disputes involving quantum or valuation questions, where the tribunal often needs to understand not only each expert’s conclusion, but also the reasoning behind it. A well-run conference can surface important practical questions such as which assumptions are driving the difference, which inputs matter most, and whether the experts are using different methodologies or applying the same one differently.

Conferencing can also help identify which disagreements have the biggest impact on the outcome. That is valuable in complex disputes where expert reports may contain numerous differences, but only a few affect the result.

Points for Counsel to Consider

Despite its advantages, expert conferencing is not a cure-all. Counsel and tribunals should think carefully before adopting it.

A key risk is lack of structure. Without a clear agenda, a free-flowing discussion can become unfocused or dominated by the more outspoken expert, who may not have the strongest analysis and evidence.

Preparation is also critical. Expert conferencing generally works best where the areas of agreement and disagreement have already been narrowed, often through joint expert reports or agreed-upon agendas. An overly broad set of questions makes the discussion inefficient; too rigid an agenda loses the benefit of experts engaging directly as issues become clearer during the discussion.

Counsel should also be alive to witness dynamics; some experts are naturally more comfortable in an interactive format than others. An expert who is measured, cautious, or less forceful should not automatically be seen as less persuasive. It is important to ensure the tribunal hears clear, balanced, and focused answers from both sides – the substance rather than the personalities.

A Tool that Rewards Thoughtful Planning

The practical takeaway for counsel is simple: Propose expert witness conferencing where it will help the tribunal better understand the evidence. Carefully plan the issues to be discussed, the order in which issues will be addressed, who leads the questioning, how experts may respond to one another, and where counsel examination fits into the process.

Designed thoughtfully, expert conferencing can be one of the most useful parts of an arbitration hearing. It can expose weak assumptions, clarify real disagreements, and help tribunals make better-informed decisions.

Associated People

Arjun Dasgupta

Arjun Dasgupta

Manager

Mr. Dasgupta specializes in the application of economic and financial theory to questions arising in complex litigations and arbitrations. He has advised on a range of valuation issues, including cost of capital, country risk premiums, and dividend growth models. Mr. Dasgupta has previous experience across varied industries, including energy, water, aviation, and telecommunications, and has advised clients on financing requirements, risk assessments, and optimal pricing strategies. Prior to joining Analysis Group, he worked in the economics and strategy teams at BT Group, advising on strategic investments in the telecommunications sector and valuation during acquisitions and divestments. He also previously worked at an economics consulting firm, where he supported economic experts in a range of commercial disputes and international arbitrations in the UK, Spain, the Philippines, and Belize.

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Jessica Resch

Jessica Resch

Principal

Jessica Resch is a testifying expert in complex disputes involving valuation, damages, and finance issues, with particular experience in international arbitration, commercial litigation, and shareholder disputes. She has been appointed as an expert in matters before international arbitral tribunals and national courts, including the High Court of Justice of England and Wales, and has provided expert testimony on valuation and damages issues across a wide range of sectors and fact patterns. Her work is especially focused on complex valuation questions, including the assessment of cost of capital, discounts and premia, and the value of derivatives and distressed assets.

Ms. Resch’s case experience includes disputes involving oil and gas developments, project investments, shareholder and joint venture conflicts, failed transactions, breach of warranty claims, FSMA Section 90 and 90A securities litigation, and those relating to private equity, venture capital, and other funding arrangements. She has worked extensively on matters arising in difficult economic and operating environments, including periods of financial crisis, post-pandemic disruption, political instability, civil unrest, and heightened sovereign risk. Prior to joining Analysis Group, Ms. Resch was a partner and co-founder of an economics consulting firm.

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Joshua White

Joshua White

Managing Principal

Mr White is a consulting and testifying economist who specialises in applying microeconomics and sophisticated econometric modelling to complex litigation and merger-related questions, primarily in matters involving the health care, financial services and technology industries. He has supported clients in various jurisdictions and industries in follow-on competition damages litigation, assessing overcharge, upstream and downstream pass-on and volume effects. He has served as a testifying expert in the UK Upper Tribunal (Lands Chamber), the UK Competition Appeal Tribunal and the Amsterdam District Court on competition cases.

Mr White has supported high-profile companies with complex merger reviews across multiple jurisdictions, including in the Veolia/Suez, LVMH/Tiffany, Sika/MBCC and Eutelsat/OneWeb mergers. He has also provided evidence to the UK’s Competition and Markets Authority (CMA) and the European Commission (EC), including on behalf of clients involved in cartel investigations, abuse of dominance investigations and mergers. Mr White has also provided support to European financial and competition regulators in coordinated conduct investigations.

Mr White has extensive experience addressing competition and intellectual property (IP) issues in matters related to cutting-edge pharmaceutical products and FRAND licensing questions. As part of this work, he has supported a number of scientific and technical experts in front of courts and regulatory bodies. He also regularly supports pharmaceutical clients on competition issues around market access, pricing, denigration and competition from generic manufacturers.

Mr White has worked in a number of jurisdictions, including the UK, the European Union, Switzerland, Australia, New Zealand, South Africa, Canada, Japan, Korea, the Netherlands, Belgium and the US. His writing has been published in an array of journals, including the Journal of European Competition Law & Practice, the Competition Law Journal and the Journal of Antitrust Enforcement, and he regularly speaks at international competition law and policy conferences.

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