Insights

Embattled Chinese real estate developer Evergrande is in dire straits after parts of its proposed turnaround plan were blocked by China's regulators. Market observers are left wondering what this could mean for other similarly troubled real estate companies in China, such as Country Garden, that are currently navigating a turbulent housing crisis in the world's second-largest economy. Kobre & Kim's John Han, who focuses on cross-border monetization of distressed assets, sat down with The Wall Street Journal to discuss what might be next for the property giant and other Chinese real estate companies.

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Although the Chinese property developer Country Garden narrowly avoided default in early September, its ongoing financial distress is causing mounting concern among its creditors, especially those holding offshore bonds. A mostly empty megaproject in Malaysia could offer them up to US $1.5 billion in recovery, Kobre & Kim’s John Han – who focuses on large-scale, cross-border monetization of distressed assets – told The Wall Street Journal.

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Kobre & Kim’s Matthew Menchel joined David Oscar Markus on the podcast “For the Defense” to speak about the defense and successful acquittal of Swiss UBS banker Raoul Weil.

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Kobre & Kim’s pro bono work was selected by The American Lawyer among 15 matters that represent the very best of the legal industry’s pro bono efforts in 2022 in “Justice Is Served: Highlights From Big Law’s Year of Impactful Pro Bono.” The article highlighted the firm’s success in gaining asylum for a client “K.”

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Over 30 U.S. lawmakers wrote to the Biden administration in May urging them to intervene on behalf of Honduras after allegations that ICSID has breached “law and procedure” in its administration of US $11 billion treaty claim have caused the government of Honduras to threaten withdrawal from ICSID’s jurisdiction. Kobre & Kim’s Adriana Riviere-Badell, who focuses on enforcement of international judgments and arbitral awards with a nexus to Latin America, gave her insight to Global Arbitration Review.

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The luxury market is characterized by high stakes and confidentiality, but recent developments in the market have led to greater government scrutiny and enforcement actions, which increases risk for market participants. Kobre & Kim’s Evelyn Sheehan and Lara Levinson explore these risks in an article for Private Client Global Elite’s “The Month.”

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With over 30 U.S. lawmakers in May urging the Biden administration to intervene in an investor-state arbitration involving Honduras and calling for the elimination of investor-state dispute settlement (ISDS) provisions in existing trade agreements involving the hemisphere, should international investors be concerned? Kobre & Kim’s Adriana Riviere-Badell, who focuses on enforcement of international judgments and arbitral awards with a nexus to Latin America, sat down with Law360 to discuss.

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The proliferation of blockchain technology and cryptocurrency has seemed like the emergence of a new Wild West – but has the sheriff finally ridden into town? Kobre & Kim’s Andrew Stafford KC, Calvin Koo and Timothy de Swardt look at how the United Kingdom, the British Virgin Islands, Hong Kong and the U.S. – all sophisticated and important global financial centers with mature and highly competitive legal markets – have responded to the disruptive effects of blockchain and cryptocurrency in a chapter of Commercial Dispute Resolution’s “Fraud, Asset Tracing & Recovery 2023.”

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The U.S. Department of Justice’s (DOJ) new pilot program incentivizing companies under investigation to claw back compensation from culpable employees and supervisors attempts to shift the burden of corporate wrongdoing from shareholders to those directly responsible. However, as Kobre & Kim’s Evelyn Sheehan – who focuses on asset forfeiture and other government enforcement actions – told Anti-Corruption Report, the program offloads the government’s burden onto companies and adds to the challenges they face.

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Cryptocurrency scams are on the rise. As more victims are losing money, they are finding that – even though transactions are preserved on a public ledger – the cross-border nature of the asset and the underdeveloped global regulatory landscape make recovery often very difficult, and scammers will continue to take advantage. Kobre & Kim’s Calvin Koo, who focuses on global tracing and recovery of digital assets, spoke to DL News about these trends.

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The Cayman Islands is a key offshore jurisdiction for judgment creditors in cross-border enforcement campaigns. Kobre & Kim’s Cayman-based Jalil Asif KC, Peter Tyers-Smith and Ilona Groark detailed the main insights in the jurisdiction for creditors in a chapter of International Comparative Legal Guide’s “Enforcement of Foreign Judgments 2023.”

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Coming amid uncertainty for renewable investors and a global legal debate in the wake of the Court of Justice of the European Union’s (CJEU) Achmea and Komstroy decisions, the UK High Court rejected the European Commission’s attempt to intervene in two renewable energy investors’ US $101 million arbitral award enforcement case against Spain in a win for the investors. The Financial Times and Law360 quoted Kobre & Kim’s Nick Cherryman, who represents the lead award in this dispute, on the development.

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The trend away from billable hours as the way law firms charge clients may be accelerating. Kobre & Kim’s Managing Director of Underwriting and Value Optimization Alan Guy, who underwrites, negotiates and manages litigation finance and alternative fee arrangements, sat down with LexisNexis to explore the changes.

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For general counsels (GCs) in many organizations, a slowing economy in 2023 is putting pressure on them to spend less, particularly on their highest cost: outside counsel spending. Kobre & Kim’s Alan Guy, the Managing Director of Underwriting and Value Optimization, sat down with Legal Dive to emphasize how professionalizing fee discussions can allow clients and counsel to find win-win deals that align pricing and value.

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The U.S. Federal Trade Commission’s (FTC) attempt to block Microsoft’s acquisition of video game developer Activision Blizzard is, to some, a surprising and aggressive move with long odds. Kobre & Kim’s Benjamin Sirota, who focuses on contentious high-stakes antitrust disputes, analyzed the case when he sat down with Bloomberg Businessweek, The Wall Street Journal and MLex Market Insights.

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