Practices and Industries /
Dispute Resolution. Cross-border Disputes. Insolvency. Asset Tracing
Resolution of corporate, commercial, and international disputes, including pre-litigation settlement, litigation representation, and alternative dispute resolution methods (arbitration, mediation).
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[ about practice ]
Dispute Resolution. Cross-border Disputes. Insolvency. Asset Tracing
Representing Russian and international clients before Russian state courts and arbitral tribunals has historically been a core practice of KORR Legal.
At the same time, the approach to dispute resolution has changed significantly in recent years, both in Russia and in foreign jurisdictions, and this has considerably expanded the range of work in this practice. Today, handling cross-border litigation and arbitration requires the team not only to perform the traditional functions of a litigator, but also to take account of sanctions and counter-sanctions considerations and to plan the litigation strategy carefully and well in advance.
In addition to representing clients before Russian courts, KORR Legal handles a large number of projects involving the recognition of Russian court judgments and arbitral awards in Western and Eastern Europe, the United Kingdom, the United States, and Central and East Asia.
At the same time, the approach to dispute resolution has changed significantly in recent years, both in Russia and in foreign jurisdictions, and this has considerably expanded the range of work in this practice. Today, handling cross-border litigation and arbitration requires the team not only to perform the traditional functions of a litigator, but also to take account of sanctions and counter-sanctions considerations and to plan the litigation strategy carefully and well in advance.
In addition to representing clients before Russian courts, KORR Legal handles a large number of projects involving the recognition of Russian court judgments and arbitral awards in Western and Eastern Europe, the United Kingdom, the United States, and Central and East Asia.
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[case study]
We combine procedural precision, international expertise and strategic thinking to craft well-calibrated solutions for every dispute.
Exequatur and amendment of the operative part of an insolvency judgment (Italy)
Cross-border insolvency · Recognition and enforcement · Italy
Cross-border insolvency · Recognition and enforcement · Italy
Acting for one of Russia’s largest banks, a creditor in insolvency proceedings, KORR Legal represented the bank in the recognition and enforcement in Italy of a Russian court judgment in the insolvency case.
Since the judgment appointing the insolvency officeholder did not set out the powers conferred on the officeholder under Russian insolvency law, KORR Legal obtained an order from the court of cassation amending the operative part of the judgment accordingly.
The judgment was then recognised and enforced by the Milan Court of Appeal.
Since the judgment appointing the insolvency officeholder did not set out the powers conferred on the officeholder under Russian insolvency law, KORR Legal obtained an order from the court of cassation amending the operative part of the judgment accordingly.
The judgment was then recognised and enforced by the Milan Court of Appeal.
Disclosure in Cyprus and recognition of a Russian court judgment in Georgia
Asset tracing · Disclosure · Exequatur · Cyprus, Georgia
Asset tracing · Disclosure · Exequatur · Cyprus, Georgia
Acting for one of Russia’s largest banks, KORR Legal obtained a series of disclosure orders from the Cypriot courts that established the connection between the purchasers of the property and the debtor. The information obtained helped return a commercial property in Moscow to the insolvency estate.
As part of the same project, the Supreme Court of Georgia recognised and enforced a Russian court judgment in a property dispute. Interim measures over the debtor’s real estate in Georgia were obtained for the period while the application was being considered.
As part of the same project, the Supreme Court of Georgia recognised and enforced a Russian court judgment in a property dispute. Interim measures over the debtor’s real estate in Georgia were obtained for the period while the application was being considered.
Tracing debtors and establishing their centre of main interests
Asset tracing · Investigations · Switzerland
Asset tracing · Investigations · Switzerland
KORR Legal has carried out a number of projects to establish the actual whereabouts of debtors evading their obligations. In one case, the investigation established that the debtor’s centre of main interests was in Switzerland, which provided the basis for subsequent enforcement against the debtor’s assets before the court of the relevant canton.
KORR Legal takes a similar approach in other cross-border projects. Establishing the centre of main interests provides the basis for determining jurisdiction, obtaining interim relief and pursuing other enforcement mechanisms.
KORR Legal takes a similar approach in other cross-border projects. Establishing the centre of main interests provides the basis for determining jurisdiction, obtaining interim relief and pursuing other enforcement mechanisms.
Freezing of a debtor’s assets worth USD 90 million in the BVI (Russia / BVI / Cyprus)
Cross-border litigation · Interim relief · BVI
Cross-border litigation · Interim relief · BVI
KORR Legal represents one of Russia’s largest banks in a cross-border dispute comprising interrelated court proceedings in Russia, the British Virgin Islands and Cyprus.
The investigation identified the proper defendant in the British Virgin Islands, which owned assets worth approximately USD 90 million. On KORR Legal’s application, the High Court of the Eastern Caribbean Supreme Court (British Virgin Islands) froze those assets.
The investigation identified the proper defendant in the British Virgin Islands, which owned assets worth approximately USD 90 million. On KORR Legal’s application, the High Court of the Eastern Caribbean Supreme Court (British Virgin Islands) froze those assets.
Recognition of a Russian insolvency officeholder’s powers in Israel
Cross-border insolvency · Interim relief · Travel ban · Israel
Cross-border insolvency · Interim relief · Travel ban · Israel
Acting for one of Russia’s largest banks, a creditor in insolvency proceedings, KORR Legal represented a Russian insolvency officeholder in the recognition of his powers in Israel. The project was preceded by an investigation that located the debtor.
KORR Legal successfully challenged the debtor’s objections. As a result, the Israeli court confirmed that, for the powers of a foreign insolvency officeholder to be recognised, neither the size of the claims in the foreign proceedings nor the presence of the debtor’s assets in Israel is decisive, and that the merits of the foreign insolvency proceedings are not subject to review.
The court froze the property of the debtor and his spouse and barred the debtor from leaving Israel. The case was covered by the Israeli media.
KORR Legal successfully challenged the debtor’s objections. As a result, the Israeli court confirmed that, for the powers of a foreign insolvency officeholder to be recognised, neither the size of the claims in the foreign proceedings nor the presence of the debtor’s assets in Israel is decisive, and that the merits of the foreign insolvency proceedings are not subject to review.
The court froze the property of the debtor and his spouse and barred the debtor from leaving Israel. The case was covered by the Israeli media.
Interim relief and disclosure orders in Cyprus in support of cross-border recovery
Freezing orders · Disclosure orders · Cyprus
Freezing orders · Disclosure orders · Cyprus
KORR Legal represents creditors in projects that require interim relief in Cyprus in support of cross-border recovery and asset tracing.
In particular, KORR Legal obtains disclosure orders, including Norwich Pharmacal orders, which make it possible to establish the ownership structure of assets, the ultimate beneficial owners and the movement of funds, as well as freezing orders against the assets of debtors and related parties. The information and interim relief obtained are used both in stand-alone proceedings and as part of cross-border asset recovery projects.
In particular, KORR Legal obtains disclosure orders, including Norwich Pharmacal orders, which make it possible to establish the ownership structure of assets, the ultimate beneficial owners and the movement of funds, as well as freezing orders against the assets of debtors and related parties. The information and interim relief obtained are used both in stand-alone proceedings and as part of cross-border asset recovery projects.
Worldwide freezing order (WFO) in support of the recovery of losses caused by fraud
Worldwide Freezing Order · Criminal proceedings · Cyprus, Latvia
Worldwide Freezing Order · Criminal proceedings · Cyprus, Latvia
Acting for an international financial group that had suffered losses as a result of fraud by its senior management, KORR Legal brought proceedings in Cyprus to recover the losses.
In the course of the proceedings, freezing orders were obtained against the defendants, including a freezing order with cross-border effect. As a result, KORR Legal secured the freezing of one defendant’s assets in Cyprus and of funds held in a bank account in Latvia.
The proceedings in Cyprus are coordinated with criminal proceedings in Russia, Latvia and Cyprus, including proceedings for deliberate bankruptcy. In parallel, KORR Legal coordinates the Russian court proceedings with due regard to the public policy requirements of the jurisdictions where recognition and enforcement of the judgments is sought.
In the course of the proceedings, freezing orders were obtained against the defendants, including a freezing order with cross-border effect. As a result, KORR Legal secured the freezing of one defendant’s assets in Cyprus and of funds held in a bank account in Latvia.
The proceedings in Cyprus are coordinated with criminal proceedings in Russia, Latvia and Cyprus, including proceedings for deliberate bankruptcy. In parallel, KORR Legal coordinates the Russian court proceedings with due regard to the public policy requirements of the jurisdictions where recognition and enforcement of the judgments is sought.
Acting for a group of minority creditors in freezing the shares of a holding company
Group of creditors · Share freeze · Subsidiary liability · Cyprus
Group of creditors · Share freeze · Subsidiary liability · Cyprus
KORR Legal represents a group of minority creditors with claims totalling USD 15 million in insolvency proceedings involving total debts of more than USD 100 million.
Despite the relatively small size of the claims compared with those of other creditors, KORR Legal obtained a freeze in Cyprus on the shares of the group’s parent holding company, preventing any further disposal of the key asset.
KORR Legal is currently working with the Cypriot liquidator to trace assets that the group of debtors removed from the insolvency estate, and is also handling proceedings to hold the controlling persons subsidiarily liable. This work is being carried out in parallel with the local insolvency proceedings against the Cypriot company in Russia.
Despite the relatively small size of the claims compared with those of other creditors, KORR Legal obtained a freeze in Cyprus on the shares of the group’s parent holding company, preventing any further disposal of the key asset.
KORR Legal is currently working with the Cypriot liquidator to trace assets that the group of debtors removed from the insolvency estate, and is also handling proceedings to hold the controlling persons subsidiarily liable. This work is being carried out in parallel with the local insolvency proceedings against the Cypriot company in Russia.
Full-cycle debt recovery and enforcement against a premium asset
Debt recovery · Enforcement · Cyprus, Russia
Debt recovery · Enforcement · Cyprus, Russia
KORR Legal represents a Cypriot creditor company in a dispute with a Russian defendant, handling the full cycle of debt recovery and enforcement proceedings in Russia and abroad.
A key element of the project was the recognition of the Russian court judgments in Cyprus and obtaining a freezing order over the shares of a company owned by the debtor that holds a commercial property in Moscow, with a view to subsequent enforcement against that asset.
Representing the client in Cyprus involves a significant number of complex procedural issues, including a jurisdictional challenge and alternative service on the defendants.
A key element of the project was the recognition of the Russian court judgments in Cyprus and obtaining a freezing order over the shares of a company owned by the debtor that holds a commercial property in Moscow, with a view to subsequent enforcement against that asset.
Representing the client in Cyprus involves a significant number of complex procedural issues, including a jurisdictional challenge and alternative service on the defendants.
Protecting the rights of a minority shareholder in a complex ownership structure of a major asset
Cross-border litigation · Corporate disputes
Cross-border litigation · Corporate disputes
KORR Legal represents one of the shareholders of an oilfield services group in a corporate conflict affecting the ownership structure of a major production asset.
The project covers litigation in several jurisdictions and the coordination of the procedural strategy, taking into account the group’s corporate structure, the interests of its members and the cross-border enforcement of judgments.
The project covers litigation in several jurisdictions and the coordination of the procedural strategy, taking into account the group’s corporate structure, the interests of its members and the cross-border enforcement of judgments.
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[ responsible lawyers ]
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