Insights | Kobre & Kim — Disputes and Investigations

Client Alert October 12, 2023

Cross-Border Strategies to Accelerate Non-Performing Loans Recoveries in Korea

Korean banks are holding an increasing amount of non-performing loans, putting their financial health at risk.
For many with large portfolios exposed to cross-border unsecured debt and loans to high-yield borrowers, sale and write downs may not be optimal.
A cross-border strategy to monetize their claims could offer a superior alternative.

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.

Publications October 4, 2023

John Han Discusses Evergrande with the Wall Street Journal

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.

Client Alert September 28, 2023

Crypto Parties Can Stand Up to Regulatory Overreach

U.S. regulators are aggressively stretching the bounds of their jurisdiction over the cryptocurrency and digital asset space.
This puts exchanges, founders, investors and other parties at risk of increased uncertainty and risk of investigation and enforcement.
Deference may not earn targets leniency – instead, as a recent Kobre & Kim settlement shows, standing up to the regulators can pay dividends.

Client Alert September 21, 2023

Risk Rises for Korean Companies as U.S. Pursues More Aggressive Antitrust Enforcement

Aggressive antitrust enforcement is a priority for the U.S., both at home and abroad.
Korean companies are on the radar, particularly with alleged procurement fraud, putting them at risk of massive fines and multijurisdictional investigations.
We explain the risks and responses Korean companies should consider.

Client Alert September 14, 2023

Cross-Border Strategies for Maximizing Returns Against Sovereign Debtors

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.

Publications September 8, 2023

John Han to The Wall Street Journal: Country Garden Creditors Could Target Overseas Assets

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.

Client Alert September 7, 2023

Defensive and Counteroffensive Strategies in Delaware for Business Disputes that Turn Personal

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.

Client Alert August 31, 2023

How Ultra-High-Net-Worth Individuals Should Respond When Their Cyprus-Based Assets Are Under Attack

As global geopolitical tensions rise, Cypriot-held assets are increasingly under threat.
Governments, competitors and other counterparties are increasingly launching aggressive and often unwarranted attacks against the Cyprus assets of ultra-high-net-worth individuals.
At-risk individuals should work with a cross-border team and local counsel to take strategic steps to defend their assets.

Client Alert August 17, 2023

Global Companies Can Gain Advantage From Aggressive U.S. Antitrust Enforcement

U.S. government antitrust agencies – including the U.S. Department of Justice Antitrust Division and Federal Trade Commission – have become increasingly aggressive in their enforcement.
While this puts more multinational companies with U.S. links at risk, it could also present an opportunity.
Our team explains how the changing antitrust enforcement environment can provide tools for companies to keep their competitors in check.

Client Alert August 9, 2023

How SPAC Sponsors and De-SPACed Companies Can Protect Themselves as Valuations Plunge

After the SPAC boom of 2020 and 2021, many de-SPACed companies are now facing cash constraints and even bankruptcy.
Companies and their sponsors could face increasing scrutiny and disputes from shareholders, creditors or regulators as a result.
We explain how sponsors can be best positioned to prepare for the legal, financial and reputational risks that follow.

Client Alert August 3, 2023

The BVI Creates New Opportunities for Offshore Bondholders to Bring Unilateral Claims

Distressed debt investors who are beneficial owners or contingent creditors of bonds face uncertainty when bond issuers stop paying.
Courts in key jurisdictions are beginning to answer the question of whether creditors can wind-up issuers but are offering diverging decisions.
We explain how a recent ruling in the BVI opens the offshore jurisdiction to creditors considering a cross-border enforcement campaign.

Publications August 1, 2023

Matthew Menchel Speaks on Defense of UBS Banker Raoul Weil on Podcast

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.

Client Alert July 27, 2023

Gaining Leverage in Brazilian Insolvencies: Local and Cross-Border Tools for International Creditors

The Americanas fraud has led a wave of insolvencies in Brazil, shaking the market.
This wave of financial distress has ensnared international creditors into the slow-moving Brazilian insolvency landscape.
However, new developments in Brazil – combined with an assertive cross-border strategy – can help creditors gain the upper hand and reach a quicker resolution.

Client Alert July 20, 2023

Creditors Should Enforce PRC Keepwell Agreements Overseas

Many Chinese debt issuers are still undergoing a wave of defaults, putting offshore general unsecured creditors at risk.
One way to secure substantial recovery is to enforce keepwell agreements, promises by a PRC onshore parent company to maintain a debt issuer’s liquidity and solvency.
This can expand the range of enforcement targets, increasing creditors’ options and chances of success.