Insights

The COVID-19 pandemic has pushed ultra-high net worth individuals (UHNWIs) to restructure their finances and relocate investments out of Latin American countries. Citywealth interviewed Latin America experts to understand the reasons behind this movement.

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From her proudest professional moments and her advice to trainees to the most significant trend in her practice, Kobre & Kim’s Evelyn Sheehan shared her insight in the latest edition of Private Client Global Elite’s magazine “The Month.”

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Latin America’s recent economic boom has led many to proclaim it “inevitable” that Brazil becomes a center of international disputes. Kobre & Kim’s São Paulo-based lawyers Gabriela Ruiz, Scott Nielson and Carolina Leung explain in a chapter for Lexology’s “Enforcement of Foreign Judgments 2022” the ins-and-outs of gaining recognition and enforcement of foreign judgments in Brazil.

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For litigants in Brazil, the broad scope of U.S. discovery may come as surprise. Even though the U.S. Supreme Court recently foreclosed Section 1782 discovery when the sole foreign proceeding involved is a private international arbitration, the parties in Brazilian proceedings can still leverage this instrument, as Gabriela Ruiz, Martin De Luca and Scott Nielson explain in an article for Brazilian legal publication Consultor Juridico.

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The U.S. Department of Justice’s (DOJ) Antitrust Division has been direct about decreasing the number of meetings between defense counsel, supervisors and front office officials to press against the client's indictment. This change, which is a continuation of a policy instituted during the Trump administration, aligns the antitrust division with the practice of other DOJ divisions, said Kobre & Kim’s Benjamin Sirota, a former prosecutor at the DOJ Antitrust Division, for the National Law Journal.

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The contagion of collapsing cryptocurrency companies – from Three Arrows Capital to Voyager Digital and Celsius Network – in recent months may not be over yet. Kobre & Kim’s Daniel Saval, who regularly represents crypto industry stakeholders in complex cross-border insolvency disputes, sat down with The Deal to answer why bankruptcies are likely to continue.

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Recent letters filed in court from customers in the bankruptcy cases of cryptocurrency platforms Voyager Digital and Celsius Network reveal the extent of the potential financial ruin faced by customers after those companies halted withdrawals. Kobre & Kim’s Daniel Saval with Yahoo Finance discussed the challenges ahead for the customers-turned-creditors as they seek to recover their assets.

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Daniel Saval, Andrew Stafford KC, Evelyn Sheehan, Amanda Tuminelli and Timothy de Swardt wrote in Forkast about how recovering crypto assets from insolvent companies may be easier than one might think.

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Historically, federal antitrust enforcement has typically been considered through the lens of consumers, but that is beginning to change as antitrust regulators focus on labor dynamics as well. Kobre & Kim’s Benjamin Sirota, a former prosecutor at the U.S. Department of Justice’s (DOJ) antitrust division, commented to The Hollywood Reporter.

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Kobre & Kim’s Benjamin Sirota, a former U.S. Department of Justice (DOJ) antitrust prosecutor, explained the relevance of an August 2022 DOJ trial to block the proposed merger of Penguin Random House and Simon & Schuster to the National Law Journal.

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Many major Chinese enterprises have been issuing bonds in US dollars in the offshore bond market. While debtors are often able to discriminate against foreign bond holders, rising investor activism has increased the need for creative monetization strategies to generate value even from the most recalcitrant debtors. In a Chinese article, Kobre & Kim’s Shanghai-based Jason Kang, Jian Wu and Chang Liu write in collaboration with Chinese law firm JunHe about how these strategies have led to success on the ground.

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In a victory for creditors represented by Kobre & Kim, the Hong Kong High Court found Steven Zhang, president of Inter Milan and son of the founder of Chinese e-commerce retailer Suning, liable for US $255 million in a landmark verdict. Kobre & Kim’s Jason Kang, who argued the case with Francesca Ip, commented to South China Morning Post (SCMP) about the judgment.

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In the recent wave of cryptocurrency platform Chapter 11 bankruptcies, the question facing litigators, the platforms and their customers is who owns cryptocurrency held by bankrupt trading and investing platforms? Kobre & Kim’s Daniel Saval offered his insights to Law360.

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It is not clear yet what will happen in response to the several cryptocurrency firms that have filed for bankruptcy this month, an event that is unprecedented in the U.S. Kobre & Kim’s Daniel Saval sat down with CNBC.com to explain what may happen to users of these firms.

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The sudden bankruptcies of Celsius and Voyager, two large cryptocurrency platforms, left customers scrambling after the platforms claimed that the crypto deposits they held were corporate assets the firms can use to pay off larger creditors rather than belonging to the customers. Kobre & Kim’s Daniel Saval explained to Fortune why it may be difficult for customers to establish a property right to their assets.

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