Claim Monetization & Dilution | Kobre & Kim — Disputes and Investigations

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.

Events October 4, 2023

Kobre & Kim Co-Sponsors CFAAR Event on Crypto Investigation and Insolvency Challenges and Successes

Cryptocurrency fraud and asset recovery is an increasingly active litigation space – crypto class action lawsuits are up, a number of major crypto platforms have filed for bankruptcy and government regulators and enforcers are investing more resources in this area. To discuss all this and more, Kobre & Kim, Bennett Jones, FTI and Chainalysis will co-sponsor CFAAR North America’s Fall event at Chainalysis’ New York office at 3:00 pm, October 12. Kobre & Kim’s Jonathan Cogan, who focuses on high-stakes civil litigation and government enforcement defense matters, will also speak on a panel on successes and trends in crypto litigation and insolvency.

Accolades October 3, 2023

Jason Kang Recognized in LexisNexis Hong Kong’s “40 Under 40”

In recognition of his outstanding experience and contributions to the legal industry around the Asia Pacific region, Jason Kang has been recognized by LexisNexis Hong Kong among their 2023 “40 Under 40.”

Events September 27, 2023

Carolina Leung Explores Best Practices in Asset Recovery Investigations on Asset Recovery Americas Panel

Fraud and corruption investigations can run for months or years, involving complex considerations that might make or break the investigation. Kobre & Kim’s Carolina Leung, who focuses on representing clients in complex cross border investigations, shared best practices for practitioners on an Asset Recovery Americas panel on September 21, 2023.

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.

Events August 14, 2023

Robin Baik Shares Inside Perspective on US $108 Million Investment Treaty Arbitration Win at Breakfast Event

Unlike many other investment treaty arbitrations, Elliott Associates v Republic of Korea is a case where the parties’ submissions are public, providing valuable insight into the international arbitral process. Kobre & Kim’s Robin Baik, who led the firm’s team in representing Elliott to win their recent US $108 million award against the Korean government, shares his perspectives on the case and investment treaty disputes more broadly during a breakfast event hosted by Three Crowns on Thursday, August 31 in Singapore.

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.

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.

Events July 17, 2023

Jian Wu and Jason Kang Explore Hong Kong-Based Cross-Border Asset Recovery and Protection in HKIAC Session

For creditors in the People’s Republic of China, Hong Kong can and often should be the primary springboard to launch a cross-border enforcement campaign to trace and recover funds. Kobre & Kim’s Jian Wu and Jason Kang, who both focus on the monetization of claims involving the region, examine what a Hong Kong-based global enforcement strategy may look like during a session hosted by the Hong Kong International Arbitration Centre (HKIAC) in Shenzhen on July 21, 2023.

Events July 13, 2023

Kunhee Cho Explores Obtaining Information in Cross-Border Disputes at IAKL European Conference

The availability and process of obtaining information varies in different jurisdictions around the world. Global counsel to navigate and leverage such differences is key to success in cross-border disputes. Kobre & Kim’s Kunhee Cho explored this process during a presentation at the International Association of Korean Lawyers European Conference on July 8, 2023.

Events June 30, 2023

CFAAR Hong Kong Presents Seminar on “Guardrails to a Global Digital Asset Hub”

As Hong Kong establishes its standing as a global center for cryptocurrencies and other virtual assets, how has its regulatory approach evolved? The Crypto Fraud and Asset Recovery Network (CFAAR) Hong Kong Chapter will explore this question in its latest seminar and networking event, taking place on Thursday, July 13, titled “Guardrails to a Global Digital Asset Hub: The SFC’s New Virtual Asset Regime.”

Client Alert June 29, 2023

Lessons Learned for Activist Investors: The 2023 Korea Annual General Meeting Season

2023 has continued a trend of increasingly energetic shareholder activism in Korea.
The most recent annual general meeting season has shed light on the paths activist investors can take to increase their chances of success.
Our team explores the main takeaways and lessons learned from the season.