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Kobre & Kim Team to Discuss Cross-Border Government Investigations and Joint Venture Disputes Facing Korean Investors in IAKL Conference
September 20, 2021
Korean individuals and companies have increasingly internationalized their businesses, setting up corporate structures and placing assets in key offshore jurisdictions around the world. While this is good for business, it also increases their exposure to complex cross-border disputes, such as investigations by foreign government agencies or asset recovery disputes across multiple jurisdictions, that may require specialized knowledge to effectively mitigate.
As part of the 28th Annual Conference for the International Association of Korean Lawyers (IAKL) that begins on September 30, Kobre & Kim’s Robin Baik, Timothy Haynes, Daniel Lee and Joshua Huang will take part in panel discussions on the most important details and tactics Korean lawyers will need to know to maximize their clients’ success.
The first panel, “Key Considerations in Multijurisdictional Litigation – JV & Investment structures involving cross-border corporate structure,” will feature Mr. Baik as moderator and Mr. Haynes, as well as Sam Kim of Yoon & Yang and Charis Tan of Peter & Kim. Together, they will investigate how multi-jurisdictional asset recovery is possible – even against asset-light and effectively judgment-proof counterparties – when offshore joint ventures break down.
The panel will unveil cross-border enforcement strategies through a case study, examining how Korean institutional investors who are limited partners in a Cayman Islands Exempted Limited Partnership (“ELP”) with ties to Hong Kong, Singapore and the U.S. can take steps to protect and redeem their investments in each of those jurisdictions when the partnership goes sour.
The second panel, “Coordinating concurrent government enforcement defense efforts in Korea and in other foreign jurisdictions – U.S. & PRC,” will feature Mr. Lee as moderator and Mr. Huang, who will also be joined by panelists Yung Sang Lee of Yulchon and Rina Kim of Proskauer. The panel will look into how as more Korean high-net-worth individuals and companies become embroiled in litigation against government agencies, fluency in various foreign enforcement landscapes becomes the decisive factor in shaping an effective strategy even before a case properly begins.
Deploying a pre-emptive approach when there is a hint of possible litigation is particularly important for Korean counsel unfamiliar with the scale and process of government investigations overseas, and can also become crucial in terms of cost management. The panel will discuss the key considerations when developing a strategy, tips to coordinate concurrent defenses in Korea, the U.S. and China, and how collaborating with foreign law firms can maximize success.
Kobre & Kim is a global Am Law 200 law firm that focuses on cross-border disputes and investigations, often involving fraud and misconduct.
Led by former U.S. federal prosecutor Michael Kim, our Korean team includes native Korean-speaking lawyers based out of our Seoul and U.S. offices focused on advising Korean parties on U.S. matters. Additionally, we have extensive experience with South Korean regulatory authorities such as the Korean Financial Supervisory Service and the Korean Public Prosecutors’ Office.
Our team also features lawyers qualified in key offshore jurisdictions, including the Cayman Islands and the British Virgin Islands, who offers deep experience coordinating asset recovery and monetization strategies across jurisdictions and have been successful in freezing assets through both judicial and non-judicial means to repatriate funds to victims.