Resources | International Asset Recovery

Despite the lack of reciprocal arrangements between the US and England, it is possible to enforce a US judgment in the English courts. The procedure to do so is quick and cost-effective. And, the reason to do so is primarily to recover assets to satisfy …

Enforcement against foreign assets in a US court has been difficult. However, the Middle District of Florida in Wells Fargo Bank v. Barber, 2015 WL 470589 (M.D. Fla Feb 4, 2015), showed how it is possible.

A foreign bank must have more continuous and systematic contacts with the US and have purposely demonstrated an intent to do business in the US to be subject to a US court?s jurisdiction.

If a non-English creditor wants to enforce its foreign court judgment consideration needs to be given to the tests the English court will apply before it will recognize and enforce that judgment.

Applicable as of January 18, 2017, a recently adopted European regulation facilitates cross-border debt recovery by enabling creditors to obtain a ?European Account Preservation Order? (the ?EAPO?) given by one judge in a member state and attach a debtor?s bank accounts in another EU member …

The focus was clarified recently as to when documents can be obtained from a foreign subsidiary of a US parent company involved in federal litigation.

A recent judgment of the Royal Court of Jersey shows how offshore fiduciaries and corporate service providers unquestioned loyalty can be very costly…

If a foreign bank is located in the United Kingdom, it may be subject to providing discovery information of its account holders whose accounts may be located outside the United Kingdom.

Today, litigants are confronted with defendants who have sought to put assets beyond reach by moving them overseas, often into trusts or corporate structures in International Financial Centers. In response to the increasing internationalization of commercial fraud and a concern that their jurisdiction would gain …

A recent decision provides creditors a framework for determining when a court may exercise authority over assets located offshore or when a freeze of non-US assets can occur in New York…

PURPOSE: POTENTIAL LIMITATIONS TO PRE-SUIT DISCOVERY IN THE US Texas, like five other states, allows for pre-action discovery to discover the potential wrongdoers in an articulated claim. Rule 202 of the Texas Rules of Civil Procedure authorizes a pre-suit deposition to investigate a potential claim. …

In Daimler AG v. Bauman, 134 S. Ct. 746 (2014), the US Supreme Court in January 2014 held that a corporation is not subject to personal jurisdiction merely because it ?engages in a substantial, continuous, and systematic course of business? in a forum. A corporation …

Fraudsters cannot hide behind a corporate shield in Canada when they use a company for an ?illegal, fraudulent or improper purpose.? The Ontario Court of Appeals in Shoppers Drug Mart Inc. v. 6470360 Canada, Inc., 2014 ONCA 85, addressed the situation where Shoppers Drug Mart …

It is important to know and understand the laws for asset holding when trying to recover claims. New legislation in Bermuda seeks to stimulate the trust industry and to attract international customers who wish to retain a certain level of control over their trusts. The …

Proof of money laundering in the United Kingdom made easier! In a recent decision, Relfo v. Vasani (2014) EWCA Civ 360, the Court of Appeal was confronted with the Liquidator being unable to show evidence of each transaction transferring monies through various bank accounts and …

Section 550 of the US Bankruptcy Code allows for the bankruptcy trustee to recover for the benefit of the estate property transferred to an immediate transferee that can be avoided under other Code provisions. In a recent matter in the Madoff bankruptcy proceeding, Sec. Investor …

Parties cannot obtain jurisdiction in New York merely by the small passing of funds through New York banks. Rather, there will need to be a specific connection with New York and more than a tertiary role in the international banking system.

Cayman Islands discovery was adopted from Canadian rules of civil procedure and consequently, have many similar characteristics of US discovery. Foreign litigants should try to take advantage of these discovery rules when more oppressive rules arise in other Caribbean countries.

When a fraud has occurred, a private investigator is often engaged by counsel to gather evidence about the fraud and the fraudsters. If events take you to Canada, one must understand the law surrounding privilege and privacy and be cautious to avoid prejudicing the case.

In the past, courts had decided that RICO?s reach depended upon the location of the enterprise. European Community v. RJR Nabisco, Inc., 2014 U.S. App. LEXIS 7593 (2d Cir. April 23, 2014) redirected the focus to predicate acts.

A recent decision in the Southern District of New York, Wultz v. Bank of China, 2014 U.S. Dist. Lexis 1841 (S.D.N.Y. February 13, 2014), required a non-party bank to prepare a Rule 30(b)(6) witness with information that was only available overseas. There, the Bank of …

On April 3, 2014, in Matter of Kapon v. Koch, 2014 N.Y. Slip Op 02327, the New York Court of Appeals clarified the standard for enforcing subpoenas to nonparties in civil litigation…

Provisional remedies are a powerful tool for creditors. In New York, two recent cases have limited a creditor?s ability to attach funds of a defendant at a foreign bank with a correspondent banking relationship with a New York bank.

In Italy, Article 671 of the Italian Civil Code permits a precautionary seizure of property if a creditor has a ?valid fear of losing the security for his claim.? The order will prohibit the debtor from disposing of all of his assets and not just …

The U.S. Court of Appeal for the Eleventh Circuit recently emboldened a litigant’s ability to obtain discovery under 28 U.S.C. Section 1782 for a foreign proceeding that was only ?within reasonable contemplation.?