Client Alert June 14, 2022

Kobre & Kim Helps PRC Clients Enforce US $171M Award in BVI

  • Many parties, especially those based in Asia Pacific, soon discover that a recalcitrant debtor can frustrate enforcement of a hard-won arbitration award.
  • In cross-border enforcement campaigns, the debtor may throw up obscure legal challenges to cause delays and distraction.
  • A recent Kobre & Kim victory demonstrates how, through quick and strategic action, these distractions can be defeated and pressure can be maintained on the debtor.

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Client Alert May 9, 2022

The Differences Between UK and EU Russian Sanctions

  • The United Kingdom and the European Union are two critical jurisdictions that have implemented influential sanctions regimes against Russian entities.
  • Given the UK’s departure from the EU, key differences exist that outside stakeholders must be attuned to.
  • Learn the subtle yet consequential details in this reference guide, put together by Kobre & Kim’s International Private Client team.

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Client Alert March 28, 2022

Maximizing Recovery Against a Sanctioned Sovereign

  • Prices of Russian and other sovereign debt are falling as their economies buckle, presenting both opportunities and challenges for investors.
  • Enforcing the debt against sovereign entities is already difficult, more so when sanctions are involved.
  • As our Claim Monetization & Dilution team explains, non-traditional strategies may go further in putting maximum pressure on sovereigns and maximizing returns.

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Client Alert January 26, 2022

Looking to Enforce a PRC “Keepwell Agreement”? Look Outside the PRC

  • Mainland China is undergoing a wave of credit defaults, and creditors should use every tool available to maximize recovery.
  • Keepwell agreements, a promise by a PRC onshore parent company to maintain an offshore debt issuer’s solvency, is one option for overseas enforcement.
  • Creditors can use them to launch a multijurisdictional recovery campaign to drive up pressure on the debtor and reach a near-term settlement.

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Client Alert January 24, 2022

U.S., Korea Antitrust Enforcers on Watch for Bid-Rigging in USFK Defense Contracts

  • South Korea and U.S. antitrust regulators are increasing collaboration in cross-border matters, with the Biden administration gearing up enforcement.
  • Potential targets include South Korean companies that conduct business with the U.S. Forces Korea (USFK).
  • Our team explains why an aggressive, multi-jurisdictional defense is necessary to mitigate the risks

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Client Alert November 23, 2021

Enforcement in Dubai Just Got Easier

  • The Dubai International Financial Centre (DIFC), a gateway to enforcing judgments in the Middle East, has just seen significant barriers to enforcement removed.
  • Creditors now have a much smoother path to collect on what they are owed both in onshore Dubai and across the region.
  • Our global Claim Monetization & Dilution team unpacks how creditors can save significant time and money.

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Client Alert October 15, 2021

Traders Should Stop Running from Risk in CFTC Investigations

  • The U.S. Commodity Futures Trading Commission (CFTC) has quietly increased scrutiny of digital currency markets, focusing on spoofing.
  • Successful traders normally do not run from risk in their trading activities, yet they often do exactly that in the face of unfamiliar regulatory risks, leading to worse outcomes.
  • Targets of regulatory enforcement should therefore consider a range of aggressive measures before responding to inquiries from enforcement authorities.

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Client Alert September 15, 2021

Minority Shareholders Gain Tools Against Corporate Abuse in Korea

  • Minority shareholders of South Korean industrial conglomerates, or “chaebols,” have had few ways to protect their interests against controlling shareholders.
  • However, with the passage of new amendments to the Korea Commercial Code (KCC), minority shareholders have gained new tools to even the playing field.
  • Our Claim Monetization and Dilution team looks at the key changes and implications that minority shareholders and activist investors should know about.

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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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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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Client Alert May 26, 2021

When Investments Lead to Investigations: Navigating Korea’s Disclosure Rules for Foreign Investors

  • South Korea is an attractive destination for investors in private equity and venture capital, but the country’s changing disclosure rules could risk a drawn-out government investigation.
  • Recent changes, designed to relax disclosure for most investors, adds complexity that could be used by the government against international investors to protect domestic companies.
  • International parties investing in a Korean company can and should anticipate this risk in a way that maintains both independence and confidentiality.

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Client Alert May 26, 2021

Dissolving a Delaware-Registered Joint Venture: A Key Pressure Tactic in Joint Venture Disputes

  • For parties embroiled in contentious joint-venture disputes, it is advantageous but challenging to find new ways to exert pressure on a counterparty.
  • If the counterparty is registered in Delaware, however, a pursuing a dissolution proceeding there can prove to be a decisive way to gain leverage.
  • As our Claim Monetization & Dilution team explains, this tactic saved a client in a recent case valuable time and money in reaching a favorable settlement.

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Client Alert May 26, 2021

How SPAC Sponsors Can Protect Themselves and their Investments in a Cooling Market

  • Special Purpose Acquisition Companies (“SPACs”) can provide sponsors—often high-net-worth individuals—with large returns.
  • However, SPACs are not without their risks—there are growing signals the market may be cooling, which could lead to litigation and government enforcement.
  • SPAC sponsors and advisors should prepare early in order to reduce their potential exposure.

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Client Alert March 12, 2021

Don't Stand Passive Against Anti-Competitive Behavior: U.S. Court Endorses Private Sector Antitrust Tools

  • Companies often believe that the only remedy for anti-competitive behavior comes from government intervention.
  • However, as a recent U.S. appeals court decision illustrates, private parties can obtain relief themselves, even against “consummated” mergers approved by government regulators.
  • This creative strategy is just one of many that companies can deploy by themselves when facing competitive challenges.

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Client Alert March 3, 2021

The Corporate Transparency Act: Is it Actually Helpful for Private Parties?

  • The U.S. Corporate Transparency Act (CTA), part of the recently-passed National Defense Authorization Act (NDAA), has broken new ground by requiring beneficial owners of U.S. corporate entities to register with U.S. government authorities.
  • While the CTA appears to shut out private parties – such as creditors and victims of fraud – from accessing such information, there may be potential creative ways to work around this roadblock, bringing creditors one step closer to a substantial recovery of their assets.
  • Nevertheless, creative creditors and their counsel might be able to obtain this information through certain channels to cut off escape routes for debtors and fraudsters, and obtain more complete recoveries.

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Alex Stevens  |  Leader of Global Communications
email  |  +1 646 448 6283