Tracing and Negotiating with Overseas Actual Controller for Debt Recovery
In a significant case, a Chinese real estate company found itself owing a substantial loan of RMB 1 billion to a local financial institution within China. Adding complexity to the situation, the actual controller of the company assumed the guarantee responsibility for these loans and was situated in Australia. Complicating matters further, the assets of the actual controller were distributed across multiple jurisdictions, including the United States, Australia, and the British Virgin Islands (BVI).
Tasked with the intricate challenge of tracing the actual controller and facilitating negotiations with creditors, we undertook a comprehensive approach. Leveraging our extensive network and expertise in cross-border asset tracing, we meticulously located the actual controller, navigating the complexities of international jurisdictions. Additionally, our team adeptly facilitated negotiations between the creditors and the actual controller, seeking to achieve a mutually beneficial resolution.
Locating Assets and Enforcing Judgments for Settlement
In another notable case, a Chinese listed company issued bonds totaling tens of millions of dollars, eventually accumulating to over $200 million, inclusive of interest. These bonds were guaranteed by the company’s actual controller. Following a debt crisis, the company underwent liquidation; however, the personal assets of the actual controller located outside of China were not subject to the bankruptcy proceedings.
Engaged by the liquidator, our team embarked on the task of locating these assets and enforcing judgments outside of China. Through meticulous investigative work and collaboration with international legal experts, we successfully identified the assets of the actual controller and enforced judgments to initiate negotiations. Ultimately, our efforts culminated in a settlement between the actual controller and the liquidator, facilitating the resolution of the complex debt situation.
Identifying Offshore Assets for Chinese Creditor
In a scenario involving bankruptcy of a Chinese company, which had investments in mining and agricultural assets across Malaysia, Indonesia, and Mongolia, our services were enlisted by the creditor—an esteemed Chinese state-owned non-performing asset company. Despite the bankruptcy, the Chinese receiver lacked control over these offshore assets, which were effectively managed by the company’s CEO residing in Singapore.
Employing our expertise in asset identification and international cooperation, we embarked on the task of identifying these offshore assets. Through meticulous investigation and collaboration with local and international partners, we successfully located the assets controlled by the CEO in Singapore. Our efforts provided critical insights to the creditor, facilitating informed decision-making and potential avenues for debt recovery.
Arbitrating Failed Investment in African Country
In a challenging case, a Chinese mining company had invested in a copper mine, road, and terminal infrastructure in an African country. However, the investment encountered setbacks, and the costs incurred were not recovered due to disagreements with local partners.
Tasked with resolving the dispute and recovering losses, we collaborated closely with local African law firms to initiate arbitration proceedings. Leveraging our expertise in international arbitration and cross-cultural negotiations, we navigated the complexities of the legal landscape in the African country. Through strategic arbitration efforts and diligent advocacy on behalf of the Chinese company, we sought to secure a favorable resolution, ultimately working towards the recovery of incurred losses and mitigating further financial risks.
