Having just wrapped up Season 2 of Stranger Things this week, I just couldn’t help draw the connection between the Mind Flayer and its army of Demogorgons wreaking havoc in Hawking, Indiana and Venezuelan President Nicolas Maduro and his finance ministers terrorizing global capital markets in Caracas, Venezuela. While the former makes for good entertainment, the latter makes … [Read more...]
Rum, Risk and Ruin: 13 Reasons Why You Still Shouldn’t Do Business in Cuba.
The removal of Cuba from the U.S. state sponsors of terrorism list this week sparked a groundswell of excitement among U.S. entrepreneurs, lawyers, and investors looking to profit from the “enormous opportunities” on the island. As part of the Florida Bar’s first-ever delegation to Havana, Cuba last week, I got the chance to see these “opportunities” for myself. Indeed, … [Read more...]
The World’s First Bitcoin Lawsuit—in the United States?
Have you ever received an email that is so fascinating that you have to read it out loud to make sure you that you read it correctly? I received one of those several days ago. The email asked the following question: “This past summer I purchased [factory equipment] in [Country X] with Bitcoin. I never received the equipment and [the supplier] won’t respond to my messages. … [Read more...]
Are Worldwide Freezing Orders Really Enforceable Worldwide?
I recently did an interview with Russia’s top news agency, RIA Novosti on Worldwide Freezing Orders (WFO). The interview was conducted by RIA correspondent Carl Shecker. The interview was for the article In Global Tussle, Russia and Émigré US Socialite Battle for Fortune. As Carl puts it, the story centers on “a byzantine Russian corruption scandal intertwined with the opaque … [Read more...]
Political Risk Insurance: Why Your International Business Must Have It.
A special interview with Global Security Consultant and Political Risk Expert, Paul Crespo This is the first in a series of posts dealing with global security and risk management. While companies doing business internationally generally protect themselves against numerous risks, political risk is often ignored or accepted as fate. While there are many ways to manage and … [Read more...]
International Money Laundering. How to Make Sure Your International Business Stays Clean (Infographic)
Our firm is currently assisting in the prosecution of an international white collar crime matter. The allegations read like a James Bond novel and are so outlandish that film rights are being discussed. Like I said, this is interesting stuff. The thrust of the case centers on an international financial institution that uncovered a would-be depositor's scheme to launder … [Read more...]
Yes, You Must Disclose All International Property Holdings When Filing for Bankruptcy in the U.S.
I recently came across a situation where someone unwisely sought the advice of one of those late night television bankruptcy attorneys offering the deal of the century. You know the one. Well, unfortunately certain foreign property holdings were not disclosed and the court came very close to denying the debtor’s bankruptcy petition. In a very similar case, the court held the … [Read more...]
Yes, Your Foreign Company Can File for U.S. Chapter 11 Bankruptcy Protection.
Several months ago, I handled a matter on behalf of a foreign company that filed for Chapter 11 bankruptcy protection here in the U.S. When I explained the general details of this case to a seasoned bankruptcy attorney, whom I had run into at legal seminar, I was surprised that he didn't think it was possible for a foreign company to do so. I went on to tell them that not … [Read more...]
Switzerland Passes Tough Executive Pay Rules.
With all the talk about executive pay here at home, it’s interesting to note that Switzerland just passed a set of tough executive pay rules. The new rules allow shareholders at Swiss-listed companies a binding vote each year on the total compensation of boards of directors and senior management, as well as a total ban on "golden parachutes" and executives being paid … [Read more...]
Sovereign Debt Litigation on the Rise.
On Wednesday, the United States Court of Appeals for the Second Circuit will hear argument in a sovereign debt lawsuit that could have a major impact on world debt markets. The case centers on a group of investors who sued Argentina seeking payment for $1.3 billion relating to bonds that the country defaulted on in 2001. While the court has already sided with investors on … [Read more...]