Mr. Saval has served as counsel to investors, public and private companies and insolvency representatives to advise on global strategies to monetize claims and recover assets, including:

• Representation of a Europe-based FinTech exchange in tracing leads to pinpoint Chinese wrongdoers, who turned out to be in an organized crime syndicate in China that was committing large-scale online fraud against various foreign corporate targets. We worked with various criminal justice and police authorities to investigate the fraud and pursue the wrongdoers behind the fraud against our client. We also successfully deployed U.S. Chapter 15 bankruptcy proceedings in a precedent-setting case to trace and recover stolen digital assets transferred to U.S.-based cryptocurrency exchanges.
• Representation of the British Virgin Islands liquidators of the largest Madoff feeder fund in cross-border insolvency and litigation proceedings involving cutting-edge issues under Chapter 15 of the U.S. Bankruptcy Code.
• Representation of an international company in developing and executing a cross-border asset recovery strategy against assets and targets located in Europe, the Middle East and the U.S., among other jurisdictions to recover over $300 million taken by fraud.
• Representation of Hong Kong-based investment funds owed over US $200 million in their enforcement of a judgment award against the debtors based on defaulted bond debt, involving simultaneous proceedings in New York state court, Alabama bankruptcy court and the India High Court. The case team successfully obtained orders from the New York court requiring the judgment debtors to turn over their cash and equity interests in various subsidiaries and the appointment of a receiver, and obtained a rare dismissal of the judgment debtors’ Chapter 11 bankruptcy cases that were filed in an attempt to block the enforcement campaign.

Mr. Saval has experience in high-stakes insolvency and debtor-creditor disputes and represents stakeholders in securing funds and recoveries in cross-border proceedings, including:

• Representation of Marble Ridge Master Fund LP as special counsel in the Neiman Marcus Chapter 11 proceedings, defending against claims for breach of fiduciary duty and equitable subordination based on allegations of bid-rigging for assets in the bankruptcy. The complaint sought $55 million in damages and subordination of over $60 million in bankruptcy claims, and we successfully settled the case for $5 million, with full allowance of the Fund’s bankruptcy claims.
• Under the Puerto Rico Oversight, Management and Economic Stability Act of 2016 ("PROMESA"), served as an independent investigator to the Special Investigation Committee of the Financial Oversight and Management Board for Puerto Rico to perform a comprehensive review of the factors contributing to Puerto Rico's fiscal crisis.
• Representation of Carl Icahn entities in Trump Entertainment bankruptcy proceedings, during which Mr. Saval litigated plan confirmation issues relating to cramdown interest rates, enforceability of inter-creditor agreement provisions and termination of intellectual property licenses.
• Representation of the Japanese bankruptcy trustee of Mt. Gox, once the largest bitcoin exchange in the world, in connection with Mt. Gox’s Chapter 15 bankruptcy case and various U.S. litigation proceedings.
• Representation of an ad hoc committee of third-lien lenders in contested plan confirmation proceedings involving the reinstatement of secured debt.
• Representation of an official committee of equity security holders, as a member of the trial team in 27-day valuation trial, after which the shareholders, who allegedly faced a US $2 billion+ value shortfall, secured a substantial plan recovery.
• Representation of an ad hoc bondholder committee in successful indenture default litigation in Delaware Chancery Court arising from the issuer’s loss of its New Jersey gaming license.
• Representation of an ad hoc committee of second-lien noteholders in successfully negotiating a Chapter 11 plan treatment for noteholders providing for payment in full in cash, plus accrued interest (a recovery of approximately 120%), in the face of a cramdown threat by junior creditors.
• Representation of an official committee of unsecured creditors, in achieving settlements of $200 million+ to fund a Chapter 11 plan that compensated victims of a meningitis outbreak caused by the debtor and its operations.
• Representation of an ad hoc secured lender committee, in negotiating and successfully obtaining confirmation of a Chapter 11 liquidation plan that resolved complex inter-creditor disputes and created a litigation trust to pursue claims arising out of a massive financial fraud.
• Representation of an indenture trustee for the US $2 billion of convertible bonds, in prosecuting change-of-control litigation in Delaware Chancery Court arising from Bank of America’s acquisition of Countrywide, leading to a settlement under which the bondholders were paid close to par.