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Client Alert August 31, 2022

Enforcing Minority Shareholder Rights in Asia: A Comparative Guide to Derivative Actions

  • 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.

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Client Alert July 26, 2022

Enforcing Minority Shareholder Rights in Asia: A Comparative Guide to Unfair Prejudice

  • 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.

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Client Alert July 26, 2022

PRC Continues to Open Up in Recognizing Foreign Claims

  • 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.

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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 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 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 8, 2019

To Catch a Debtor: Freezing the Money

  • 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."

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Client Alert April 3, 2019

To Catch a Debtor: Finding the Money

  • 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.

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Client Alert November 12, 2018

Navigating Global Matrimonial Disputes: Four Steps to High-Value Asset Recovery

  • 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.

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Client Alert June 7, 2018

Fraud Victims Pursuing Assets Offshore

  • 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.

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Client Alert June 1, 2018

Looking to Enforce a Judgment in the U.S.?

  • 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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