Publications March 28, 2024

Global Restructuring Review: Chinese Property Developer Fails to Dismiss NY Suit From BFAM and Other Bondholders Represented By Kobre & Kim

An important ruling by a New York court, rejecting Chinese real estate develop Glory Health’s efforts to dismiss a suit brought by a group of bondholders represented by Kobre & Kim, found that beneficial owners may receive authorization from the registered holder to sue, as reported by Global Restructuring Review.

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Publications March 28, 2024

Jacob Kirkham to Bloomberg Law on What Comes Next for Delaware After Moelis Ruling

The landmark Moelis ruling by the Delaware Court of Chancery has some speculating over Delaware’s place as America’s corporate capital. Kobre & Kim’s Delaware-based Jacob Kirkham, who focuses on complex corporate and commercial litigation, sat down with Bloomberg Law to dissect the current legal landscape in the state.

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Client Alert March 28, 2024

How U.S. Litigants Can Seek Information Disclosure in Key English Common Law Jurisdictions

  • U.S. litigators will be familiar with the powers of U.S. courts to gather discovery, including through letters rogatory and Section 1782 applications.
  • Less well known are powerful non-U.S. discovery tools that can provide the ever-growing need for information from multiple jurisdictions.
  • One such example, the Norwich Pharmacal order, can offer litigants access to third-party information in key English common law jurisdictions around the world.

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Publications March 21, 2024

Bloomberg News: NY Court Ruling Obtained by Kobre & Kim is “A Possibly Expedient Way” For Creditors to Sue Bond Issuers Directly

A ruling obtained in New York by Kobre & Kim on behalf of global bondholders against Chinese property developer Glory Health “provides a glimpse of a possibly expedient way for creditors to sue financially strapped bond issuers to get paid under New York law, the state with jurisdiction on a large bulk of Chinese companies’ dollar notes,” Bloomberg News reports.

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Client Alert March 21, 2024

New U.S. Rules For Investment Advisors Could Bring Aggressive Scrutiny on Non-U.S. Individuals

  • New rules proposed by the U.S. Financial Crimes Enforcement Network (FinCEN) would extend U.S. anti-money laundering program requirements to investment advisors.
  • This could become the latest move by U.S. authorities to scrutinize the assets and transactions of ultra-high-net-worth individuals, including those outside the U.S.
  • At-risk individuals and their advisors should take proactive steps to protect their legitimate interests.

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Client Alert March 14, 2024

How Activist Investors Can Protect Their Rights Amid Family Succession Struggles at Korean Chaebols

  • Opportunities for activist investors in Korea are expanding, but as an ongoing dispute involving LG shows, corporate succession disputes involving chaebols can be a source of risk.
  • These family struggles can lead to attempts at corporate changes that conflict with the interests of minority shareholders.
  • Investors and activists should understand the risks and their options by working with international counsel to protect their rights.

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Client Alert March 4, 2024

Companies and Individuals in Greater China Can Protect Themselves from U.S. Sanctions Overreach

  • The United States and its allies continue to use sanctions to attack adversarial governments and their perceived allies, putting companies and individuals with tenuous or merely alleged ties at risk.
  • Recent sanctions have targeted Russia, but PRC companies were designated in the February 2024 round, signaling increasing risk to PRC individuals and business if China-U.S. relations deteriorate.
  • At-risk individuals and business should take proactive steps to prepare.

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Client Alert February 29, 2024

Political Strategies in Monetizing Sovereign Arbitration Awards

  • 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.

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Client Alert February 22, 2024

Leveraging Cross-Border and Offshore Tools in Brazilian Insolvencies

  • A wave of cross-border financial distress and insolvencies is rocking Brazilian companies – Brazilian airline GOL filed for Chapter 11 in the U.S. in January 2024.
  • Although international creditors have historically faced a Brazilian insolvency landscape that has created many practical impediments, things are changing.
  • A new Brazilian bankruptcy law, if combined with a multijurisdictional approach touching the U.S. and offshore, can give creditors additional leverage toward a favorable recovery.

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Publications February 20, 2024

Daniel Lee Compares Court Transparency in Korea and the United States with Korean Law Times

In Korea, court opinions are generally not made public. This contrasts with the United States, where not only judgments but also indictments, submitted evidence and court transcripts can be made public. Kobre & Kim’s Seoul-based Daniel Lee, a former U.S. federal prosecutor, explains the difference when he sat down with the Korean Law Times.

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Client Alert February 15, 2024

Non-Traditional Sovereign Debt Defaults Recovery Strategies for International Bondholders

  • Sovereign defaults are increasing after recent years of post-pandemic spending, geopolitical risk and climate change.
  • This has created opportunities for distressed investors experienced in enforcing against sovereigns.
  • Investors can improve the value of their claims by deploying strategies targeting unconventional vulnerabilities around the world.

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Client Alert February 8, 2024

Creative Approaches for Investors and Joint Venture Partners to Leverage New PRC Company Law to Take Control of Onshore Chinese Companies

  • Unfavorable economic conditions in China are putting many offshore companies in distress.
  • In a worst-case scenario, joint venture partners and private credit lenders may have to attempt to take over onshore projects, companies and assets.
  • A new Chinese company law coming into effect on July 2024 could smoot this path to recover – including by making it easier to replace legal representatives.

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Publications February 5, 2024

Robin Baik to Financial Times: Upcoming Elections Add Pressure on Korean Authorities to Reform Shareholder Rights

Could the “Korean discount” that characterizes the chronically undervalued Korean stock market come to an end as the government and activist investors push for change? Kobre & Kim’s Robin Baik, who focuses on shareholder activist campaigns and international disputes related to Korea, spoke with the Financial Times on the shifting landscape in Korea.

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Publications February 5, 2024

Kobre & Kim Case Concerning Spain’s Sovereign Immunity and Investment Treaty Arbitration Featured by The Lawyer Among Top 2024 Appeals

The Kingdom of Spain’s appeal against a landmark English High Court judgment in favor of two investors represented by Kobre & Kim is featured among the top ten appeals of 2024 by The Lawyer.

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Client Alert February 1, 2024

Cracking Delaware’s Notoriously Tough Trusts

  • Several features make Delaware’s trust law attractive for debtors to hold assets in the jurisdiction.
  • This also means creditors often struggle when attempting to access the trusts to recover assets.
  • By deploying aggressive, multijurisdictional strategies, creditors may be able to crack even Delaware’s notoriously tough trusts.

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