Client Alert February 29, 2024
- For international investors and companies, winning an arbitration award against a sovereign state marks just the beginning of a lengthy, globe-spanning enforcement campaign.
- To make a greater impact on the enforcement process, award holders should not be afraid to use more creative approaches.
- A recent Kobre & Kim victory demonstrates how this approach can put legitimate pressure on sovereign debtors and bring them to the negotiating table.
Client Alert January 18, 2024
- International creditors are seeing more opportunities in the United Arab Emirates and wider Middle East as courts continue to signal openness to recognizing and enforcing overseas judgments.
- This includes overcoming a fraudulent conveyance, as a UAE court recently decided in what may be an unprecedented judgment in favor of a judgment holder represented by Kobre & Kim.
- The judgment demonstrates that there are a rapidly growing number of creditor tools available in the region to combat recalcitrant debtors.
Client Alert October 5, 2023
Powerful Option for Creditors Enforcing Judgments from Common Law Courts in the United Arab Emirates
- It is commonly assumed that it is difficult and impractical to enforcement judgments in the United Arab Emirates.
- However, this is increasingly untrue – even when no bilateral enforcement treaty exists, creditors can obtain recognition of their common law judgments.
- A recent Kobre & Kim case shows how that can happen.
Client Alert September 14, 2023
- More investors are taking their disputes against sovereign states and entities to arbitration and judicial forums.
- However, demanding payment of a defaulted debt, judgment or award does not always lead to the sovereign paying up.
- We explore aggressive non-traditional strategies investors should deploy to ensure a sovereign debtor agrees to a settlement.
Client Alert June 13, 2023
- Winning an arbitral award often marks the beginning of a long and costly global enforcement campaign for international investors, especially against a sovereign state.
- To speed up a settlement, investors should take a bold stand against sovereigns, leveraging international treaty protections.
- A recent landmark win against the Kingdom of Spain shows one way for investors.
Client Alert June 8, 2023
- The Middle East is opening up to cross-border investors, creditors and claimants, as Saudi Arabia’s adoption of rules based on the UNCITRAL Model Law on Cross-Border Insolvency demonstrates.
- The openness is not limited to that country – the United Arab Emirates has also made strides that gives more tools for creditors considering a global enforcement campaign.
- We explain what these developments mean for creditors.
Client Alert March 29, 2023
- As a key economic center in the region, the United Arab Emirates (UAE) is increasingly the place where many international creditors go as they pursue their debtor’s assets.
- However, some recalcitrant debtors may try to transfer their assets away to avoid payment in a fraudulent transfer.
- Our team explores what strategies are available in the UAE to restore a creditor’s interests.
Client Alert January 25, 2023
- A coming global economic downturn will put sovereign debt under pressure.
- It may appear near impossible for creditors and investors to enforce this debt against sovereigns, but those who succeed can see extraordinary returns.
- We explain how deploying creative cross-border strategies can overcome the toughest sovereign debtors and unlock the key to success.
Client Alert December 14, 2022
- The United Arab Emirates (UAE) is becoming increasingly friendly to global judgment creditors looking to enforce their judgments.
- Recent developments signal increased receptivity to fast-tracking recognition and enforcement through reciprocity.
- We survey the landscape and look at how the country can form a crucial part of a worldwide enforcement campaign.
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 November 23, 2021
- 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.
Client Alert August 5, 2020
- The current economic downturn has triggered record-breaking amounts of debt owed by governments to overseas investors.
- The crisis, however, has the potential to create large returns for creditors and investors willing to aggressively pursue their claims over a sovereign government.
- A proven yet unorthodox cross-border litigation strategy that catches sovereigns by surprise can achieve the monetization of judgments previously thought too tough to enforce.
Client Alert August 5, 2020
- Investors and creditors can gain potentially large returns if they successfully enforce a large judgment against a sovereign debtor.
- However, with such high-stakes, sovereign governments have begun fighting back using state powers against creditors, turning civil proceedings into a quasi-criminal cross-border dispute.
- A creditor must employ anticipatory and nonconventional counteroffensive measures in order to protect themselves and maximize their odds of success.
Client Alert March 4, 2019
- There are many reasons why sovereign debtors can be challenging targets.
- The right combination of high-pressure tactics, coupled with aggressive, creative, multijurisdictional strategies, can force sovereign debtors to take a seat at the bargaining table.
- Here are specific examples of effective techniques from recent successful matters where legitimate claims were recovered against sovereign entities.
For media inquiries, please contact:
email | +1 646 448 6283