Publications August 3, 2022

Daniel Saval Discusses Recovery for Customers in Voyager and Celsius Crypto Bankruptcies with Yahoo Finance

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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Publications August 3, 2022

Daniel Saval, Andrew Stafford KC, Evelyn Sheehan, Amanda Tuminelli and Timothy de Swardt Explore Crypto Recovery from Insolvent Companies

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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Publications July 29, 2022

Benjamin Sirota Discusses the Expanding Scope of Antitrust Enforcement with The Hollywood Reporter

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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Publications July 29, 2022

Benjamin Sirota Speaks with the National Law Journal on Developments in Antitrust Enforcement

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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Publications July 22, 2022

Jason Kang, Jian Wu and Chang Liu Share Creative Monetization Strategies of Chinese Issuer USD Bonds with JunHe

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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Publications July 21, 2022

Jason Kang Speaks with South China Morning Post on US $255 Million Chinese Debt Enforcement Win

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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Publications July 20, 2022

Daniel Saval in Law360: Crypto Funds Recovery May Be Difficult

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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Publications July 20, 2022

Daniel Saval Unpacks Crypto Bankruptcy with CNBC.com

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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Publications July 20, 2022

Daniel Saval on Crypto Property Rights with Fortune

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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Publications July 19, 2022

Alan Guy on Alternate Fee Arrangements with Legal Dive

Although alternative fee arrangements are growing in popularity and sophistication, they still face institutional obstacles to wider adoption. Matching the fee to the work is seen as difficult, so many departments stick to the familiar billable hour. Kobre & Kim’s Alan Guy sat down with Legal Dive to explain why.

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Publications July 8, 2022

Daniel Saval on Crypto Funds Recovery with MarketWatch

Several crypto companies have been reported to be in distress over the past few weeks, including Celsius, Babel Finance and CoinFlex, with digital asset broker Voyager filing for bankruptcy this week. Kobre & Kim’s Daniel Saval, who focuses on the intersection of digital currency and insolvency, sat down with MarketWatch to explain what this means for customers.

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Publications July 7, 2022

Daniel Saval on Crypto Bankruptcies

In a U.S. Securities and Exchange Commission (SEC) filing a few months ago, Coinbase warned that customers could lose their crypto assets if the exchange went bankrupt. Voyager’s bankruptcy filing this week will test the question raised by Coinbase’s warning: what will happen to customers’ crypto if the company holding it goes under? Kobre & Kim’s Daniel Saval provides his insight in a Protocol FinTech newsletter.

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Publications June 30, 2022

Gabriela Ruiz, Martin De Luca and Scott Nielson on Deploying U.S. Discovery in Brazil

For litigants and parties in Brazil, the broad scope of U.S. discovery may come as a surprise. Even though the U.S. Supreme Court recently foreclosed Section 1782 discovery when the sole foreign proceeding involved is a private international arbitration, there are still ways Brazilian litigants can leverage U.S. discovery opportunities, as Kobre & Kim’s Gabriela Ruiz, Martin De Luca and Scott Nielson explain in an article for Law360.

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Publications June 8, 2022

Alexandria Swette and Lara Levinson Explore Headwinds in the U.S. Art Market in Citywealth Magazine

Undeterred by the pandemic, the U.S. art market is still going strong, but market participants should not let their guard down. Art fraud continues to be an issue, and fresh headwinds caused by increased regulatory scrutiny – both in the U.S. and abroad – and by the rise of digital art and non-fungible tokens (NFTs) means continued vigilance is advised, Kobre & Kim’s Alexandria Swette and Lara Levinson explained when they sat down with Citywealth.

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Publications May 18, 2022

Jason Kang, Chang Liu, Kairu Huang in Caijing: Chinese Companies Should Take Note of the Poison Pill

The implementation of a poison pill by Twitter’s board of directors in response to Elon Musk’s acquisition may have increased the final offer accepted by the board by up to US $1 billion, demonstrating the effectiveness of this measure at empowering the board. As Kobre & Kim’s Greater China-based lawyers Jason Kang and Chang Liu – together with analyst Kairu Huang – wrote in Caijing, Chinese companies can gain much from poison pills in corporate disputes.

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