Client Alert September 8, 2021

Maximizing Returns on Distressed Assets: China’s Real Estate Industry

  • Offshore bondholders of distressed Chinese real estate companies often lack leverage in restructuring negotiations, with those companies’ assets located mostly in China.
  • China Evergrande Group is just one of the many Chinese real estate companies teetering on default, with wide-ranging consequences.
  • However, by taking deploying creative strategies and taking positions against competing stakeholders, activist bondholders can carve out a direct path to monetization.

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Publications September 7, 2021

John Han and Su Mien Tee Analyze China Evergrande Group’s “Ominous and Rapidly Unfolding” Credit Outlook in Reorg

As Chinese real estate giant China Evergrande Group’s credit situation continues to deteriorate, Kobre & Kim’s John Han and Su Mien Tee, Hong Kong-based lawyers who focus on claim monetization in distressed industries, spoke with Reorg about Evergrande’s “ominous and rapidly unfolding” outlook.

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Publications August 25, 2021

Wade Weems and Chang Liu Investigate the Possible Limits of China’s New Anti-Foreign Sanctions Law

The Anti-Foreign Sanctions Law (AFSL), recently passed by the Chinese National People’s Congress Standing Committee, indicates a hardening of the Chinese government’s position against foreign sanctions and enforcement. While imposing the AFSL threatens these foreign companies’ ability to operate in China and worries foreign investors and trading partners, fears may be assuaged by bilateral investment treaties (BITs) that could limit the scope of the law. Kobre & Kim’s Wade Weems and Chang Liu delve into this emerging dynamic in an article for Law.com International.

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Publications August 20, 2021

Benjamin Sirota Analyzes Second FTC Antitrust Case Against Facebook

The U.S. Federal Trade Commission’s (FTC) second attempt at alleging Facebook of antitrust violations is already affecting the legal landscape. Kobre & Kim’s Benjamin Sirota, who focuses on government enforcement defense and is a former federal antitrust prosecutor, analyzed the new case when he spoke with Bloomberg Law.

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Publications August 18, 2021

John Han and Henry Cheung in Reorg: Creative Strategies for Tahoe Group Bondholders to Maximize Returns

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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Publications August 18, 2021

Benjamin Sauter Talks Antinalysis and the Future of Blockchain Analytics Tools with Forkast News

The shutdown of a darknet blockchain analytics tool, Antinalysis, marks the ongoing showdown between malicious actors looking to launder their illicit digital assets, and the exchanges and law enforcement looking to stop them. Kobre & Kim’s Benjamin Sauter shared his thoughts on the future of these analytics tools when he sat down with Forkast News.

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Publications August 13, 2021

Jef Klazen, Marcus Green and Chris Cogburn Author Chapter on U.S. Enforcement of Arbitration Awards for Global Arbitration Review

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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Publications August 3, 2021

Polly Wilkins Spotlighted in WWCDA Newsletter for Private Client Reputation Work

Kobre & Kim’s Polly Wilkins, who co-chairs the Women’s White Collar Defense Association’s (WWCDA) Young Professional’s Committee in London, was recently highlighted in the association’s quarterly newsletter as one of their rising stars.

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Publications August 3, 2021

Jason Kang and Jian Wu on Mitigating Compliance Risks for Chinese Companies in Belt and Road Initiative

In 2020 alone, Chinese companies have signed 5,611 new contracts worth over US $141 billion as part of China’s Belt and Road Initiative. But with the relative recency of Chinese companies’ overseas investments comes increased legal risk exposure, particularly from the multilateral development banks (MDBs) that underpin many of these projects. Kobre & Kim’s Jason Kang and Jian Wu untangle the complexities in an article for Chinese news website Guancha News (观察者网).

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Publications July 23, 2021

“Sticking to One Thing”: Michael Kim on Distinctiveness as the Key to Firm Success

Kobre & Kim was one of the few midsize Am Law 200 firms to have had double-digit revenue growth in 2020. Founding partner Michael Kim shared the key to this success when he sat down with The American Lawyer.

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Publications July 23, 2021

John Han on New York State Court Win Against Charles Spackman in New York Law Journal

“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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Client Alert July 23, 2021

Using Arbitration to Stop a Winding Up

  • When monetizing a claim against a debtor, the interplay between arbitration and insolvency is not only critical but also varies by jurisdiction.
  • When considering a cross-border strategy, it is essential to understand how each jurisdiction interrelates with the others.
  • Kobre & Kim’s global Claim Monetization and Dilution Team answers the critical questions on these intricacies for key jurisdictions in this comparative guide.

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Publications July 22, 2021

Polly Wilkins and Lara Levinson on Responding to Legal Risks for NFT Investors in Sotheby’s Arts & Collections

Non-fungible tokens (NFTs) have taken the art world by storm, but the unique nature of these digital assets present new legal risks for artists, galleries, auction houses and high-net-worth investors. Kobre & Kim’s Polly Wilkins and Lara Levinson outline how NFT stakeholders can protect themselves, their assets and their reputations in an article for Arts & Collections, a magazine associated with fine arts company Sotheby’s.

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Publications July 22, 2021

Vasu Muthyala, Nick Cherryman, Kiran Unni, Jef Klazen in Legal Era: How Indian Debtors Can Stand Up to Aggressive Global Lenders

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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Publications July 20, 2021

Benjamin Sirota Shares Insights with Law360 on DOJ’s Criminal Antitrust Prosecutions Against No-Poach Agreements

The U.S. Department of Justice’s (DOJ) focus on pursuing criminal antitrust prosecutions against employers agreeing not to recruit from one another is expected to intensify. Kobre & Kim’s Benjamin Sirota, a former DOJ Antitrust Division prosecutor, shared what to expect from prosecutors when he recently spoke with Law360.

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Alex Stevens  |  Leader of Global Communications
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