Foreign currency denominated bonds
Karl Snow submitted an affidavit on behalf of SBM Holdings and others (plaintiffs) regarding a breach of contract with regard to a Euro bond sale. SBM had agreed to purchase a €4 billion European Stability Mechanism bond. When the seller did not deliver the bond, the plaintiffs alleged that they were harmed because they were denied both a commission on the future sale of the bond and a profit, as the agreement was to buy the bond at a discount. Counsel for the plaintiffs asked Dr. Snow to calculate damages, including expected commission and expected profit.