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Mr. Hutchings specializes in conducting economic analysis in complex tax, securities, and antitrust matters. He testifies, supports experts, and leads case teams in analyzing and developing economic and financial evidence to support attorneys.

Having assisted experts and attorneys for both taxpayers and taxing authorities, Mr. Hutchings has extensive experience in tax disputes and transfer pricing matters. He has worked on cases such as Cross Refined Coal LLC, Eaton, and Salem. He focuses on developing innovative economic analyses to assess the best method, economic substance, substance over form, and the business purpose doctrine for use in all stages of tax controversy and tax planning. Clients have retained him to serve as an expert and to author expert reports on tax issues.

Mr. Hutchings is also experienced in securities matters. He has been involved in several disputes arising out of the financial crisis related to residential mortgage-backed securities, credit ratings, and financial guaranty insurance. These matters often involve managing large amounts of data and conducting detailed statistical analyses. Mr. Hutchings has both offered expert evidence and supported leading academic experts, including Nobel laureate Joseph Stiglitz in securities matters.

In antitrust and competition matters, Mr. Hutchings consults to attorneys and industry and academic experts. These matters have included mergers and single-firm conduct. He has written on using insights from competition economics in tax disputes and other economic analyses. Additionally, Mr. Hutchings is experienced in valuation and commercial damages in varied contexts. He has estimated damages arising from tortious interference, breach of contract, and other contractual and extra-contractual remedies. 

Representative Engagements
Assessing the Best Method in Transfer Pricing Dispute

Supported the lead testifying economist and trial attorneys in Eaton Corp. v. Commissioner on Section 482 and 367 matters where the taxpayer prevailed. Applied various statistical and financial techniques to develop the best method and rebut opposing experts’ claims. Was involved in all areas of case development and provided in-person trial support to trial team. Was heavily involved in preparing cross-examination lines of question for opposing experts. 

Developing Economic and Financial Analyses in Substance Over Form Dispute

​​​​​​Provided consulting support to a taxpayer in developing expert strategy and support testifying economist in Cross Refined Coal, LLC v. Commissioner. Developed economic and financial analyses to model risk exposure to partnership and individual investors. Our client prevailed in a rare bench opinion. 

Analyzing Alleged Breaches of Contract and Fraud in Residential Mortgage-Backed Securities (RMBS)

Led Brattle’s consulting support to attorneys and testifying experts on behalf of monoline insurers in a series of disputes regrading mortgage originators and RMBS sponsors. Analyses focused on monitoring decisions in insurance and econometric and statistical analyses, as well as deposition support. One of these matters, Ambac v. EMC (JPMorgan), settled for $995 million. Several other confidential matters are pending.

Publications
Article
An Economic Framework for Identifying the Tested Party
November 30, 2015
Published in Tax Notes
News & Events
February 15, 2018
Evan Cohen and David Hutchings to Participate in The Knowledge Group Webinar on Transfer Pricing Guidelines

Brattle Principal Evan Cohen and Senior Associate David Hutchings will participate in The Knowledge Group’s webinar, “Recent Trends and Developments on the Organization for Economic Cooperation and Development’s (OECD) Transfer Pricing Guidelines: What You Need to Know,” taking place February 15, 2018 from 12-2 pm (EST).

August 17, 2017
Brattle Economists to Present on The Knowledge Group's Webinar on Global Transfer Pricing Litigation

Brattle Senior Associates Christine Polek and David Hutchings will present on The Knowledge Group’s webinar, “Global Transfer Pricing Litigation: Trends and Developments Explored,” taking place August 17, 2017 from 12-2 pm EST.

July 11, 2017
Brattle Economists Contribute to IRS Victory in Tax Dispute Regarding Value of Residual Interests

In a recent ruling from Judge Halpern of the United States Tax Court, a deduction claimed by RERI Holdings I, LLC for a 2003 donation to the University of Michigan was denied, with the Court upholding penalties for a gross valuation misstatement.

December 03, 2015
Michael Cragg and David Hutchings Publish Tax Notes Article Providing an Economic Framework for Identifying the Tested Party

Brattle principal Michael Cragg and associate David Hutchings recently published an article in Tax Notes discussing an economic framework for determining the tested party under the standard comparable profit method (CPM) for transfer pricing. Their proposed framework is consistent with the guidance under both the OECD guidelines and U.S. tax law.

Personal Interests

David was born and grew up in Western Newfoundland, where he developed an appreciation for outdoor pursuits, including fly-fishing and downhill skiing. He has been involved with music for many years, having minored in music as an undergrad, and continues to play trumpet in two Toronto-area community groups: the Metropolitan Winds and the North York Concert Orchestra.

While living in the Boston area, David was an active volunteer at MIT. He continues to volunteer from Toronto by interviewing prospective applicants, co-chairing a capital campaign for a residence, and serving on the board of a purchasing cooperative for students.