Client Alert May 23, 2024

US Dollar Noteholders Can Fast-Track a Favorable Recovery Against Brazilian and Latin American Note Issuers

  • Many Brazilian and Latin American companies that borrow in US dollars are facing a growing mountain of debt.
  • As international creditors eye a shrinking pool of capital available for repayment, US dollar noteholders may be left at the back of the line relative to onshore creditors.
  • However, there are a number of options at USD noteholders' disposal that could improve their position and increases their chances of recovery.

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Client Alert May 16, 2024

Precedent-Setting Win in Dubai Opens Doors for Global Creditors to Fight Fraudulent Conveyance in the Middle East

  • International investors and other claimants have long struggled to enforce cross-border claims in the United Arab Emirates (UAE) and the wider Middle East.
  • Debtors frequently deploy tactics such as fraudulent conveyance to transfer their assets out of reach.
  • A recent precedent-setting decision in Dubai’s High Court, secured by Kobre & Kim and local co-counsel, shows another avenue for global creditors to battle recalcitrant debtors and increase their chances of a swift and significant recovery on their cross-border claims.

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Client Alert May 9, 2024

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.

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Client Alert May 2, 2024

Preparing for Politically Motivated Criminal Enforcement Against Companies and Individuals in Asia

  • Relations between China and the U.S. will likely remain tense for the foreseeable future, as evidenced by the recent U.S. law mandating TikTok be divested or face a ban.
  • Companies and individuals with perceived Chinese associations – including in Greater China, Southeast Asia and the wider region – could be at risk of invasive and politically motivated government enforcement actions.
  • Those at risk can take several proactive steps to protect their assets, reputation and liberty.

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Client Alert April 25, 2024

New Rights for Private Equity Investors and Private Credit Lenders Enhance Speed of Takeover of PRC Project Companies

  • Recent challenging economic conditions in China are putting many PRC companies in distress.
  • This puts offshore joint venture partners and private credit lenders at risk, potentially having to attempt a difficult recovery by taking over PRC projects, companies or assets.
  • A new Chinese company law may give investors an upper hand by strengthening their information rights, which when combined with a multijurisdictional strategy allow a more effective takeover.

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Client Alert April 18, 2024

Countering Bad-Faith Opponents' Efforts to Publicly Discredit High-Net-Worth Individuals

  • Bad-faith opponents often use elaborate mechanisms to publicly discredit high-net-worth individuals.
  • Misinformation can spread across borders rapidly, resulting in reputational harm across borders and languages.
  • HNWIs in contentious situations should take a robust and active approach with a carefully calibrated mix of legal and communications interventions.

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Client Alert April 11, 2024

Cross-Border Tools to Aid Latin American Parties in Disputes with PRC Companies

  • Deals and partnerships between Latin American and Chinese companies are growing as economic ties between the two regions deepen.
  • However, unique risks are involved if a dispute arises with the Chinese company – the Chinese legal system could create barriers to payment, even with an award or judgment in hand.
  • Latin American companies and investors should consider cross-border strategies to increase their leverage.

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Publications April 5, 2024

Kunhee Cho Explains Impact of Korea Corporate Value-Up Program for Activist Investors with The Deal

The Korean government recently unveiled its much-anticipated Corporate Value-Up program, an effort to address the “Korea discount,” the low valuation of Korean companies. Kobre & Kim’s Kunhee Cho, who focuses on cross-border disputes and shareholder activism campaigns, sat down with The Deal to explain what the program means for activist investors.

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Client Alert April 4, 2024

New York Court Opens Path for Global Bondholders to Bring Unilateral Claims Against Recalcitrant Bond Issuers

  • The ability of bondholders to sue bond issuers to enforce their rights without going through the cumbersome process of instructing a bond trustee has long been in question.
  • However, an important ruling in New York court, obtained by Kobre & Kim on behalf of a group of international bondholders, took the first step in establishing standing.
  • With New York law governing a vast amount of emerging market company debt, this could allow global bondholders to dramatically speed up creditor response times.

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Publications March 28, 2024

Global Restructuring Review: Chinese Property Developer Fails to Dismiss NY Suit From BFAM and Other Bondholders Represented By Kobre & Kim

An important ruling by a New York court, rejecting Chinese real estate develop Glory Health’s efforts to dismiss a suit brought by a group of bondholders represented by Kobre & Kim, found that beneficial owners may receive authorization from the registered holder to sue, as reported by Global Restructuring Review.

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Publications March 28, 2024

Jacob Kirkham to Bloomberg Law on What Comes Next for Delaware After Moelis Ruling

The landmark Moelis ruling by the Delaware Court of Chancery has some speculating over Delaware’s place as America’s corporate capital. Kobre & Kim’s Delaware-based Jacob Kirkham, who focuses on complex corporate and commercial litigation, sat down with Bloomberg Law to dissect the current legal landscape in the state.

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Client Alert March 28, 2024

How U.S. Litigants Can Seek Information Disclosure in Key English Common Law Jurisdictions

  • U.S. litigators will be familiar with the powers of U.S. courts to gather discovery, including through letters rogatory and Section 1782 applications.
  • Less well known are powerful non-U.S. discovery tools that can provide the ever-growing need for information from multiple jurisdictions.
  • One such example, the Norwich Pharmacal order, can offer litigants access to third-party information in key English common law jurisdictions around the world.

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Publications March 21, 2024

Bloomberg News: NY Court Ruling Obtained by Kobre & Kim is “A Possibly Expedient Way” For Creditors to Sue Bond Issuers Directly

A ruling obtained in New York by Kobre & Kim on behalf of global bondholders against Chinese property developer Glory Health “provides a glimpse of a possibly expedient way for creditors to sue financially strapped bond issuers to get paid under New York law, the state with jurisdiction on a large bulk of Chinese companies’ dollar notes,” Bloomberg News reports.

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Client Alert March 21, 2024

New U.S. Rules For Investment Advisors Could Bring Aggressive Scrutiny on Non-U.S. Individuals

  • New rules proposed by the U.S. Financial Crimes Enforcement Network (FinCEN) would extend U.S. anti-money laundering program requirements to investment advisors.
  • This could become the latest move by U.S. authorities to scrutinize the assets and transactions of ultra-high-net-worth individuals, including those outside the U.S.
  • At-risk individuals and their advisors should take proactive steps to protect their legitimate interests.

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Client Alert March 14, 2024

How Activist Investors Can Protect Their Rights Amid Family Succession Struggles at Korean Chaebols

  • Opportunities for activist investors in Korea are expanding, but as an ongoing dispute involving LG shows, corporate succession disputes involving chaebols can be a source of risk.
  • These family struggles can lead to attempts at corporate changes that conflict with the interests of minority shareholders.
  • Investors and activists should understand the risks and their options by working with international counsel to protect their rights.

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