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with respect to any of the issues set forth pursuant to
(1) above that is different from the positions or
theories set forth pursuant to (2) above.
On September 5, 2000, each party filed with the Court an issues
memorandum.
XVII. Expert Testimony
At trial, each party called expert witnesses in support of
its and his respective position. In addition, the Court for the
first time appointed its own experts under rule 706 of the
Federal Rules of Evidence to testify as to the relevant subject
matter.
A. Identity and Qualifications
1. Experts Retained by Petitioner
Petitioner presented the testimony of two experts, Charles
Smithson (Smithson) and Robert P. Sullivan (Sullivan). Smithson
was qualified by the Court as an expert in financial economics,
financial derivative products, and risk management. He has a
Ph.D. in economics from Tulane University and is the managing
partner of a financial consulting firm specializing in risk
management. He is affiliated with the ISDA and served for a
number of years as a director on its board. His concentration is
in the management of financial risk, and he has written a number
of books and articles on that subject.
Sullivan was qualified by the Court as an expert in
financial derivatives, including the generally accepted
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