Client Alert August 31, 2022
- Minority shareholders may be surprised to learn that they have effective options when a director or other fiduciary has harmed the company.
- However, the situation may be complicated when structures cross borders, as many corporate structures in Asia do, including spreading offshore.
- Our Claim Monetization team explores how shareholders can deploy derivative actions in five key jurisdictions across Asia Pacific, the UK and the Caribbean as part of an effective cross-border strategy.
Client Alert July 26, 2022
- Minority shareholders may have certain remedies available when they feel their rights have been unfairly prejudiced by the majority.
- However, the situation may be complicated when structures cross borders – typical corporate structures in Asia may spread across offshore and other key regions.
- Our Claim Monetization team lays out the basic parameters of the tools open to minority shareholders across five key jurisdictions.
Client Alert July 26, 2022
- A Chinese court recently recognized a commercial judgment issued by the English High Court in a landmark judgment.
- China has also made it easier for Hong Kong arbitrations to be recognized and enforced in China, as well as opening the door to interim measures.
- Our Claim Monetization team analyzes what these developments mean to foreign judgment and award creditors looking for opportunities in a historically tricky jurisdiction.
Client Alert June 14, 2022
- 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.
Client Alert March 28, 2022
- 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.
Client Alert January 26, 2022
- 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.
Client Alert September 8, 2021
- 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.
Client Alert July 23, 2021
- 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.
Client Alert May 8, 2019
- International creditors continue to face significant challenges when monetizing claims against debtors based in the People's Republic of China.
- Actions such as a standalone freezing injunction can be used in English common law jurisdictions to freeze assets that are held by innocent third parties.
- Injunctions and receiverships can be made without giving notice to the debtor, bestowing the "element of surprise."
Client Alert April 3, 2019
- For international creditors, monetizing claims against debtors located in the People’s Republic of China has proven difficult.
- The first challenge is finding where the assets are, specifically via offshore discovery.
- Time is of the essence, and “freezing” the money is next.
Client Alert November 12, 2018
- While a divorce for the ultra-wealthy might be local, monetizing the resulting judgment requires sophisticated cross-border expertise.
- A timely, proactive and creative asset recovery strategy leads to more money faster.
- Obtaining a court judgment against the recalcitrant debtor is just the start of a global game of chess in which experience, creativity and global reach are essential.
Client Alert June 7, 2018
- Recent judgments have provided victims with a new route to claim damages from third parties, and thereby widen the pool from which to make a recovery.
- Claimants in numerous common law jurisdictions now can bring two new types of claims against associates of fraudsters who have assisted in the dissipation of assets after a freezing order or judgment has been obtained.
- Creditors seeking to make recoveries against fraudsters based in offshore jurisdictions should consider these two new, but related, claims against third parties when developing their asset recovery strategy.
Client Alert June 1, 2018
- U.S. courts traditionally have been a generous forum for foreign judgment creditors.
- A recent ruling from a New York state court has further broken down barriers for recognition of a foreign judgment in the U.S., even when the debtor is subject to a foreign insolvency proceeding.
- The New York decision is part of a trend of U.S. courts rejecting "fairness" and "corruption" challenges to Russian courts' judgments. Similar challenges can be overcome with the aid of proper counsel.
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