Resources | International Asset Recovery

The Second Circuit is the first court of appeals to consider the holding in the United States Supreme Court?s decision in RJR Nabisco Inc. v. European Community, 136 S. Ct. 2090 (2016), which said that Section 1964 (c) of RICO does not apply extraterritorially for …

The Internet has become the common form of commerce. As such, illegal activity has migrated there. The Internet is frequently used to engage in illegal activity cloaked in anonymity. Claimants have few if any direct means of enforcing their rights and court orders against the …

On May 22, 2017, in Water Splash Inc. v. Menon, The United States Supreme Court addressed the issue whether under the Hague Service Convention service by mail was prohibited. At issue was Article 10 of the Convention that provided if the country of destination does …

A Norwich Pharmacal order enables an applicant to obtain discovery about a wrong that has been committed from a respondent who is not ?mixed-up? in it.

In a ruling recently decided by the U.S. Bankruptcy Court for the Southern District of New York, Spizz v. Goldfarb Seligman & Co. (In re Ampal-Am Israel Corp.), 562 B.R. 601 (Bankr. S.D.N.Y. 2017), that court disagreed with other courts both within and outside its …

On 12/12/16, the U.S. Supreme Court held that the bank fraud statute does not require proof that the bank suffered a financial loss nor that there was intent for the bank to suffer a loss.

Substantial Activity Through Correspondent Bank in New York Creates Personal Jurisdiction Over Foreign Bank Defendant

A freezing order tying up a defendant?s assets is a powerful tool for claimants in English common law jurisdictions. But, they must be obtained with full and frank disclosure and come with serious ramifications when that does not occur. Typically, an applicant for freezing order …

One of the major offshore financial centers, Jersey, has been a jurisdiction of choice for those seeking to conceal their ill-gotten assets. But, developing case law offers solace for creditors to recover those illegitimately acquired assets.

The enforcement of foreign judgments is a challenge, especially if they emanate from the US because there is no automatic recognition. How Ireland treats enforcement efforts of foreign judgments is an excellent example of the challenges faced by plaintiff?s counsel.

The U.S. Supreme Court on June 20, 2016, inRJR Nabisco Inc. v. European Community, 579 U.S. ___, addressed the application of the RICO statute 18 U.S.C. Section 1961 et seq., to activities outside the U.S. and the injury that must be suffered by private litigants …

The purpose of the appointment of a protector is to monitor the actions of a trustee and to ensure that appropriate action is taken to preserve the trust fund. Protectors are commonly given "positive" powers such as the power to appoint and remove trustees and "negative" powers such as the right to withhold consent to distributions to beneficiaries. The role…

There are approximately 800,000 companies registered in the British Virgin Islands ("BVI"). BVI entities are used as vehicles for investing in Hong Kong, Singapore and mainland China where anywhere from 40-50% of BVI entities are used. There are three types of funds that can be organized under BVI law-private, professional and public. High net worth individuals are most interested in…

The Eleventh Circuit recently addressed an issue of first impression as to whether discovery obtained under 28 U.S.C. Section 1782 could later be used in civil litigation in the United States. InGlock v. Glock, Inc, 797 F. 3d 1002, plaintiff filed a proceeding under 28 …

A substantial portion of the world’s hard and soft commodities are sold and shipped from Australia. Many of the companies involved are based in foreign jurisdictions, but hold substantial assets in Australia in the form of mining licenses or commodity stockpiles. The ability to freeze …

The new Civil Procedure Code (CPC) entitles a party to apply to the court to secure evidence that could later be lost, where a statutory rule provides for the taking of such evidence or where an applicant can demonstrate a legitimate interest. The intent of …

New York branches of foreign banks are not insulated from producing information and documents pertaining to assets of judgment debtors held by the bank outside the US even where the New York branch conducts ?narrow and limited? operations in New York.

The doctrine known as ?backwards tracing? operates where victims seek to trace and recover the proceeds of the fraud where no direct connection can be established between the funds lost and the funds found in the hands of the fraudsters…

Many problems occur after a trust has been established for many years and poorly managed. As years pass, parties get careless in how they handle the affairs of their trust and then mishandle the operations of the trust for immediate personal needs.

Cyprus can be a creditor-friendly jurisdiction to enforce or support recovery efforts.

Enforcement in the UAE is dependent upon a treaty with the foreign country. Even if the parties agreed that the foreign court has jurisdiction, that may not allow for enforcement if the UAE court would originally have had jurisdiction.

Cyprus Trusts have become a popular locale for asset protection.

Recently, the District Court in Vera v. Republic of Cuba, 2015 U.S. Dist. Lexis 32846 (S.D. N.Y. 2015), was confronted with a situation where a judgment creditor sought post-judgment discovery pertaining to the defendant’s foreign accounts “in order to decide whether to seek recognition of …

The Carey and Lloyds decisions point out that third parties subject to a freezing order must not unilaterally implement what is believed to be a practical application of the order without approval by the party obtaining the order and the court.

Norwich Pharmacal relief is an effective pre-judgment tool for victims in Hong Kong to gather the information necessary to identify the wrongdoers and to eventually freeze their assets.