Client Alert January 26, 2024

Ultra-High-Net-Worth Individuals Can Mitigate Two Hazards Lurking at Free Ports

  • Free ports enable ultra-high-net-worth individuals to store, trade and transport assets, including artwork, with benefits of security, favorable tax and customs regulations and, often, privacy.
  • However, free ports cannot mitigate threats to assets when authorities make allegations of misconduct and issue freezing or seizure orders.
  • With a free port in Dubai under construction, UHNWIs and their advisors should contemplate proactive steps to protect their global portfolios.

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Client Alert January 18, 2024

New Pathways for International Creditors to Fight Fraudulent Conveyance in Dubai

  • International creditors are seeing more opportunities in the United Arab Emirates and wider Middle East as courts continue to signal openness to recognizing and enforcing overseas judgments.
  • This includes overcoming a fraudulent conveyance, as a UAE court recently decided in what may be an unprecedented judgment in favor of a judgment holder represented by Kobre & Kim.
  • The judgment demonstrates that there are a rapidly growing number of creditor tools available in the region to combat recalcitrant debtors.

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Client Alert January 11, 2024

New U.S. Bribery Law Could Put Non-U.S. Officials Under Unwarranted Scrutiny

  • A new law criminalizing the demanding or receipt of payments from U.S. individuals or entities gives the U.S. Department of Justice new tools to extend its targeting of non-U.S. individuals in corruption investigations.
  • This puts politically connected individuals at risk of becoming subject to aggressive U.S. investigations, initiated by politically motivated domestic rivals.
  • At-risk individuals should take proactive steps to protect their reputations, assets and liberty.

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Client Alert January 4, 2024

Ultra-High-Net-Worth Individuals Should Prepare For the End of Privacy in Offshore Jurisdictions

  • The United Kingdom is pushing its overseas territories, including offshore centers such as the British Virgin Islands and Cayman Islands, to publicly identify ultimate beneficial owners of corporate structures.
  • This loss of privacy for ultra-high-net-worth individuals with legitimate needs could see their reputations and interests threatened by unwarranted scrutiny.
  • Proper preparation can help individuals and their advisors to not only limit potential damage, but also allow them to react expediently if a crisis arises.

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Publications January 2, 2024

Paul Hughes Examines UAE Recovery Options for International Creditors in Law.com International

As the United Arab Emirates (UAE) emerges as a significant economic center, it has attracted international creditors seeking to recover debts as part of a worldwide enforcement campaign. Kobre & Kim’s Dubai-based Paul Hughes, who focuses on cross-border judgment and award enforcement, explores the options available for creditors to accelerate recovery and overcome common hurdles in an article for Law.com International.

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Client Alert December 15, 2023

Politically Exposed Persons Should Preemptively Manage Risks from Change in Government in Argentina

  • The new administration of Javier Milei in Argentina marks a shift away from the political establishment, with his promises to purge the “political caste.”
  • Politically exposed persons may be at risk – new authorities around the world often engage in politically motivated investigations.
  • At-risk individuals and businesses should take proactive steps to protect their assets, liberty and reputation.

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Client Alert December 15, 2023

Russian Litigants Can Still Access Critical Legal Tools in U.S. Courts

  • Russian individuals and companies with legitimate global interests still need to litigate their disputes in overseas jurisdictions.
  • Despite the current state of relations between the United States and Russia, U.S. courts are still giving Russian litigants a fair hearing.
  • We outline recent examples of successes that demonstrate how Russian litigants can still access powerful U.S. legal tools.

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Publications December 14, 2023

Kobre & Kim’s International Enforcement Judgment Featured Among Commercial Dispute Resolution’s Top 2023 Cases

An English High Court judgment on state immunity and international arbitration, obtained in May 2023 by Kobre & Kim on behalf of two investors, was featured among the top global cases of 2023 in Commercial Dispute Resolution’s year in review.

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Publications December 13, 2023

Kobre & Kim’s Brazil Growth Reported in Brazilian Publication Análise

Kobre & Kim’s continuing expansion in Latin America, with the growth of its on-the-ground team in Brazil, was reported in Brazilian publication Análise.

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Client Alert November 30, 2023

Cross-Border Tools for Chinese Investors to Recover in Brazilian Insolvencies and Against Fraud

  • Brazil is seeking more investment from China, with almost half of China’s investments in South America being in Brazil.
  • However, the recent wave of insolvencies in Brazil could threaten these investments, particularly if fraud is uncovered, leaving investors to navigate the complex Brazilian insolvency landscape.
  • By undertaking a more assertive, multijurisdictional approach, combined with new insolvency tools in Brazil, investors can seek to gain the upper hand.

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Client Alert November 22, 2023

New U.S. DOJ “Safe Harbor” Provisions May Not Be So Safe for Non-U.S. Companies

  • The U.S. Department of Justice announced a new policy promising companies leniency if they report uncovered misconduct within six months of a merger or acquisition.
  • Though this may at first appear to be “good news,” it demonstrates the DOJ’s increasing aggressiveness to companies – including non-U.S. companies – that did not commit any wrongdoing.
  • We look at why companies should be wary of cooperation, and how they can approach the DOJ more prudently.

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Client Alert November 16, 2023

Immediate Global Crisis Management Essential For Targets of Large-Scale Crypto Fraud

  • Speed is critical for targets of large-scale cryptocurrency fraud or cyber-attacks.
  • The borderless and pseudonymous nature of cryptocurrencies means stolen assets can be quickly dispersed around the world.
  • Targets should deploy a speedy, global response, combined with non-traditional approaches, to increase the chances of a substantial recovery.

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Client Alert November 9, 2023

Middle Eastern Investors Have Options to Protect Their Investments in China

  • Investments from the Middle East into Mainland China are growing recently as many see increasing opportunities for returns.
  • However, there are risks that may materialize if investors become embroiled in a global dispute with Chinese companies.
  • Investors should consider ways to increase their leverage and expand their options, including by bringing disputes directly into China through Hong Kong.

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Publications November 6, 2023

Kobre & Kim Expands in Brazil as Insolvency Work Grows: Law.com International

With a boom in insolvency and restructuring work in Brazil in the aftermath of the pandemic, as well as an inflow of capital into the region to secure commodities and infrastructure projects, Kobre & Kim has expanded its Brazil-based team to reinforce the firm’s local presence, Law.com International reported.

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Client Alert November 1, 2023

Responding to U.S. DOJ Actions Against Latin American Individuals

  • The U.S. Department of Justice is continuing to extend its long arm jurisdiction into aggressively scrutinizing individuals in Latin America.
  • Many targets may become embroiled in what can be overstated allegations, threatening their assets, liberty and reputation.
  • Targets need to work with cross-border counsel knowledgeable in the DOJ’s tactics to push back as early as possible.

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