International Judgment Enforcement & Offshore Asset Recovery

A typical instance of bribery occurs when an officer of a company bribes an official or politician. But who is the victim here – the company, whose assets were misappropriated, or the state, whose official abused his power? In English common law jurisdictions, the answer decides who receives any recovered assets, as Kobre & Kim’s Andrew Stafford KC and Evelyn Sheehan wrote in an analysis for International Comparative Legal Guides’ “Business Crime 2022.”

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This year’s Legal 500 USA placed Kobre & Kim among the very top law firms for international litigation, recognized Michael Kim and Robin Rathmell as “Leading Lawyers” and highlighted Steve Kobre and Jef Klazen.

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Kobre & Kim’s Jason Masimore will be speaking in a workshop on when lawyers perform the function of law enforcement bodies and utilize the state to trace, freeze and recover assets during ThoughtLeaders4 FIRE’s Welcome Back Summit, their first in-person event in 18 months at Syon Park, London on September 23 and 24.

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A Florida federal judge has sentenced Benjamin Forrest McConley to 13 years in prison for defrauding film and theater investors and producers out of millions of dollars. Kobre & Kim’s Evelyn Sheehan, who represents one of the victims and whose team brought the case to the U.S. Department of Justice, spoke to the court in comments later quoted in Law360.

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Chinese companies have significantly increased the scale and scope of their investments in Brazil over the past decade, but they may face complex barriers when it comes time to collect on their multi-billion-dollar investments. Kobre & Kim’s John Han and Carolina Leung will join a virtual panel discussion on how Chinese investors can secure their investments at 9:00 am São Paulo time, September 14, 2021.

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Chinese property developer Tahoe Group has been embroiled in financial crisis, facing a large-scale bond redemption and cross-default at over US $800 million for its dollar-denominated bonds alone. "No-action" clauses tie bondholders, but an exception at bond maturity gives many investors a chance to recoup a return. Kobre & Kim's John Han and Henry Cheung outline creative strategies beyond restructuring that can maximize returns in a blog post for Reorg. 

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In a chapter for Global Arbitration Review’s “The Arbitration Review of the Americas 2022,” Kobre & Kim’s Jef Klazen, Marcus Green and Chris Cogburn take a deep dive in the steps and nuances for parties looking to enforce an arbitration award in the United States.

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According to the court documents filed in the Hong Kong Court on 2 August 2021, Steven Zhang, President of the Italian soccer team Inter Milan, is sued by China Construction Bank (Asia) Corporation Limited as agent of a group of creditors, seeking more than US$250 million in outstanding debts held by Suning Xiaodian, less than a week after Steven Zhang’s appointment as a non-independent director of Suning.com on 29 July 2021.

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Who’s Who Legal’s latest “WWL: Asset Recovery 2021” rankings recognized thirteen Kobre & Kim lawyers among the top global asset recovery practitioners, giving the firm the second-most number of total individual recognitions.

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“Mr. Spackman is running out of places to hide,” Kobre & Kim’s John Han told New York Law Journal after a New York state appeals court ruled businessman Charles Spackman was rightfully held in civil contempt for not complying with a subpoena, part of a long-running global enforcement campaign on behalf of Korean investor Sang Cheol Woo to collect over US $10 million owed by Mr. Spackman.

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As loan moratoria around the world, including the one set by the Reserve Bank of India, are set to expire in the wake of the COVID-19 pandemic, Indian debtors are likely to hear from their global creditors. But as Kobre & Kim’s Vasu Muthyala, Nick Cherryman, Kiran Unni and Jef Klazen explain in an article for Legal Era, debtors still have numerous tools to deploy if they face the wrong end of a financial giant’s global enforcement campaign.

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By signing a new cross-border insolvency agreement with China, Hong Kong is positioned to become the only jurisdiction outside the mainland where mutual recognition and assistance of insolvency proceedings is allowed, opening new doors for creditors in building a global asset enforcement campaign. Kobre & Kim’s John Han, Jason Kang and Gabrielle Liu explore the implications in an article for Law.com International.

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Sitting down for a live television interview with Bloomberg Asharq News, Kobre & Kim’s Middle East and Africa (MEA) Regional Managing Director Mahmoud Selim, who leads the firm’s strategy handling matters involving fraud and misconduct in the region, discussed the latest international legal developments in the Renaissance Dam dispute between Ethiopia, Sudan and Egypt.

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In the latest Chambers & Partners “Global-wide Asset Tracing & Recovery Rankings,” both Kobre & Kim and founding partner Michael Kim were recognized in Band 1.

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The cryptocurrency boom and lagging government regulations are colliding in Latin America, exposing digital assets to fraudulent activity. Kobre & Kim and the Brazilian Chamber of Digital Commerce will discuss recovering misappropriated assets at the co-hosted webinar, “How to Trace and Recover Cryptoassets,” on June 24, 2021 at 10:00 AM ET / 11:00 AM BRT.

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