Insights

• Global public debt has surpassed US $300 trillion, providing creditors and investors in sovereign debt with new opportunities.
• Pursuing sovereign assets can be complex, time-consuming, and highly public, often involving legal battles across jurisdictions and public scrutiny.
• Adopting cross-border strategies that move beyond the traditional litigation playbook that sovereigns expect can improve recovery outcomes and shorten enforcement timelines.

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• Emerging commercial opportunities in South Korea are opening doors for investors worldwide.
• Foreign investors and trade partners continue to face significant challenges when navigating disputes with chaebols, given their dominant position and the complexities of the Korean legal landscape.
• Utilizing antitrust authorities may be one component in building an aggressive and effective strategy.

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• The U.S. Securities and Exchange Commission (SEC) has recently shifted its approach to regulating the digital asset industry.
• This change has resulted in the dismissal or suspension of several high-profile cases against major cryptocurrency businesses.
• However, this regulatory retreat does not preclude private plaintiffs from pursuing legal action.

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• It is now established that keepwell agreements—commitments made by a parent company in the People's Republic of China (PRC) to uphold the financial stability of its subsidiary—are enforceable under Hong Kong law.
• Beyond enforcing keepwell agreements in the PRC, unsecured creditors should proactively expand their recovery overseas to improve their prospects for recovery.   

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• Emerging technologies are creating new reputational risks for ultra-high-net-worth individuals.
• These create new challenges for reputation lawyers, courts, and governments worldwide as they adapt existing tools and introduce new legislation to cover uncharted territories. 
• As bad actors' technological capabilities rapidly evolve and fraudulent activities become increasingly sophisticated, the right tools can aid in mitigating risks and combating harmful online narratives.

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• Debtors worldwide often attempt to shield their assets from collection by transferring them to Florida homesteads due to the broad and immediate protection against enforcement afforded by Florida’s constitution to homeowners.
• A recent ruling by the United States District Court for the Southern District of Florida in favor of a Kobre & Kim client marks an important step in addressing potential abuses of this protection.
• As possibly the first ruling to acknowledge that creditors may be able to collect against Florida homesteads purchased with proceeds from frauds not committed against them, it sets a precedent that could enhance creditors’ ability to enforce claims against debtors attempting to shield assets through homestead protections.

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• Kobre & Kim continues to strengthen its commitment to Greater China through additional investment in key recent hires.
• Building on its expertise in cross-border disputes, the firm has experienced a significant rise in demand in Greater China for international asset recovery, joint venture shareholder disputes, and government enforcement defense.

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• When a debt issuer falls into distress, Israeli investors need advice informed by deep knowledge of international insolvency and enforcement regimes, coupled with capabilities to aggressively protect and pursue their rights across the relevant jurisdictions. 
• Israel’s recent adoption of the Model Law on Cross-Border insolvency puts creditors on a firmer footing to leverage global insolvency tools by coordinating foreign and Israeli proceedings.
• A multi-jurisdictional approach allows international investors and creditors to gain leverage toward a favorable recovery.

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• International investors and other claimants have long struggled to enforce cross-border claims in the United Arab Emirates (UAE) and the wider Middle East.
• A 2024 precedent-setting decision in Dubai's High Court, secured by Kobre & Kim and local co-counsel, shows another avenue for global creditors to battle recalcitrant debtors and increase their chances of a swift and significant recovery on their cross-border claims.

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• The new U.S. administration will likely continue to embrace economic sanctions as a tool for pressuring political adversaries abroad.
• Recent moves include pressure on historically aligned nations such as Canada, Mexico, and Colombia and sanctions on the International Criminal Court (ICC).
• Should relations between the U.S. and other governments or organizations shift from the status quo, at-risk entities and individuals may take proactive steps to mitigate potential risks.

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• As creditors find ways to crack Delaware’s trusts, debtors should remain mindful of the debtor-friendly features of Delaware trust law.
• Delaware allows individuals to shield assets through a domestic asset protection trust (DAPT), where the trust's settlor is also the trust’s beneficiary. Using DAPTs, a settlor can shield his or her assets from creditors while retaining the right to benefit from those assets.
• Although DAPTs are inherently robust, settlors should take every precaution to maximize their protective measures.

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• Claimants in trade secret disputes around the world increasingly bring their claims to U.S. courts and the U.S. International Trade Commission (ITC).
• Kobre & Kim partner Michael Ng recently discussed the trend in his interview with IAM Magazine. 
• Kobre & Kim recently won a California case for firm client Propel Fuels, winning a US $604.9 million jury verdict in October—the most significant trade secret verdict of 2024.

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• As part of its continued growth in Latin America, Kobre & Kim has appointed Renata Ramalhosa as Regional Managing Director, based in São Paulo.
• Renata will expand and enhance relationships with local law firms, strategic advisors, key regional stakeholders, and clients outside of Brazil with Brazilian interests.
• Renata has held leadership roles in both the private and public sectors.

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• The U.S. Department of Justice (DOJ) continues to expand its aggressive enforcement efforts of non-U.S. individuals in money laundering investigations.
• Recent amendments to the statute of limitations for these violations have extended the prosecution timeframe from 5 to 7 years.
• At-risk individuals should take proactive steps to ensure they are protected.

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• As Africa's landscape continues to open new opportunities for investors in the extractive industries, challenges such as navigating high-risk jurisdictions and maintaining the support of governments and local business partners persist.
• Rapid political shifts can strain or irreparably damage relationships, while adverse actions by key local business partners can create significant operational hurdles.
• While the decision to operate in volatile markets can be a lucrative one, businesses and individuals can take the proactive steps below to ensure their investments stay protected.

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