Insights

• In South Korea, family struggles and key shareholder disputes over control of conglomerates, or chaebols, have long posed risks to minority shareholder interests.
• As the chief of South Korea’s Financial Supervisory Service raises concerns over a bid to take over Korea Zinc, many are preparing for impact on shareholder value. 
• Global investors, including activist funds, should consider deploying creative strategies to maximize their positions.

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• When large-scale cryptocurrency fraud or cyber-attacks hit, the stolen assets can quickly be dispersed across the globe, with perpetrators hard to find. In these cases, the initial hours and days can be critical.
• However, a recent victory shows that even after considerable time has passed since a hack, victims can trace stolen assets and react quickly to recover them due to the public nature of blockchain transactions and the powers of the English and US Courts to order injunctive relief.

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• As high energy prices and a wider global weakening economy threaten the shipping and maritime industries, many Cyprus-based companies face serious financial distress.
• This poses a risk for creditors or those with deep financial ties to those companies as they increasingly default on their bonds and bilateral loans.
• Creditors of Cypriot companies in those situations should focus on a multijurisdictional approach to achieve recovery.

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• Commercial parties worldwide have long struggled to enforce cross-border arbitration awards and judgments in the Middle East.
• However, recent decisions of the UAE courts have signaled that the tides may be turning more in creditors’ favor. which can inform how they may approach enforcement against a sovereign debtor.
• Our team explains recent updates advancing cross-border judgment enforcement efforts in the region.

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• The People’s Republic of China (PRC) and South Korea vowed a new start in future economic cooperation,
• However, given the dominance of family-owned conglomerates known as chaebols in the Korean market and the complex intricacies of the Korean legal market, PRC companies may struggle to see a way out when they encounter a dispute.
• PRC companies can combine various creative legal and PR strategies designed to maximize pressure on their competitor and assertively protect their business interests.

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• Over the past several years, Kobre & Kim has successfully enforced cross-border judgments and arbitration awards collectively valued at more than US $40 billion.
• Many of the firm’s engagements have involved judgments and awards valued at upward of US $100 million, including several in the billions or even tens of billions of US dollars.
• Large monetary judgments or awards cannot be successfully enforced by a strategy that solely focuses on pursuing assets worldwide.

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• Recent political unrest in Latin America poses increased risks for global investors with deep financial ties to the region. Attempted coups and disputed elections have increased investor concerns over potential disruption to companies' onshore operations. 
• Rapid changes in political regimes affecting relationships with local governments or adverse actions taken against key local business partners may cause business challenges. 
• Extractive industries such as lithium mining and oil and gas face significant exposure to these geopolitical events. 

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• Chinese companies with significant intellectual property (“IP”) assets continue to see their bottom lines threatened amid increased competition with the U.S. and other Western companies.
• Kobre & Kim's ongoing commitment to its mainland China presence (recently featured in Law360) is critical to its ability to effectively manage cross-border IP disputes initiated outside China by Chinese companies in industries such as biotechnology, artificial intelligence, and consumer goods.

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• Cross-border disputes involving ultra-high-net-worth individuals (UHNWIs) can often turn personal.
• Commercial counterparties may try to make the UHNWI individually liable, putting their personal assets at risk.
• However, if there is a connection to Delaware, UHNWIs can leverage the favorable tools available in the jurisdiction to resolve disputes in their favor.

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• More Chinese companies are entering the Korean market, running head-on into family-owned conglomerates known as chaebols.
• In a dispute, the overwhelming dominance of chaebols and the intricacies of the Korea legal market make it hard for Chinese companies to find a way out.
• However, by combining creative legal and PR strategies, Chinese companies can put pressure on their competitors and protect their business interests.

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• Judgment and award debtors often hold assets in offshore jurisdictions such as the BVI – but these places are notoriously creditor- and enforcement-friendly.
• When cornered by a creditor, debtors often find few – if any – legal avenues to challenge the claim against them.
• However, a recent Kobre & Kim victory in the BVI demonstrates that, through deep familiarity of and ability to connect both offshore and foreign law, debtors can defy conventional wisdom and succeed.

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• 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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• Corporate directors and their counsel should understand the nuances of cross-border independent investigations, which can create pitfalls for even the most experienced corporate advisers.
• Although the stated risks are common to many types of cross-border investigations, they can be unexpected for corporate advisers whose primary experience is U.S.-based.
• Strategically navigating the pitfalls stated within is vital because the business judgment rule does not protect a board or a company from violations of the foreign laws discussed.

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