Kobre & Kim Secures $233 Million Freezing Order in a Dutch court against India-based MNC
September 11, 2019
Kobre & Kim lawyers John Han and Jef Klazen have secured a large-sum freezing order against the Indian technology infrastructure provider Rolta on behalf of their client Pinpoint Asset Management. Experienced cross-border judgment enforcement lawyer John Han spoke to Law360 UK about the recent win.
The order, signed in Amsterdam’s District Court, applies to at least U.S. $233 million worth of assets belonging to Rolta India and affiliated companies. In addition to this, Pinpoint has also secured an attachment to hold Rolta’s director personally liable. “The idea is that [the shares] are therefore preserved until such time as our client obtain a judgement in the New York proceedings and then can enforce it in the Netherlands against those assets,” Mr. Han explained.
The frozen assets include Rolta India’s shares in Rolta Global B, as well as assets held by the Dutch subsidiary belonging to Rolta Group entities in India, the U.S, the U.K. and the United Arab Emirates.