Author Archives: Debra Bell

Decisive Action

Katie Skeels, associate at Hogan Lovells, examines current trends and solutions in cross-border disputes

Hogan Lovells recently published a report – entitled ‘Global Currents – Trends in Complex Cross-Border Disputes 2014’ – which surveys current trends in cross-border disputes. The results suggest that senior executives and in-house counsel are proactively developing their dispute management strategies, including for securitisations, to suit the increasingly global business landscape.

Read the full story.

Rattling the Walls

Legal disputes that take place in multiple national jurisdictions or between parties based in different countries are posing challenges for corporate boards, CEOs and general counsel. And the problem isn’t likely to go away.

These complex and costly cross-border disputes are expected to grow in the coming years, according to “Global Currents: Trends in Cross-Border Disputes,” a survey of about 150 GCs and chief legal officers conducted by Hogan Lovells. “More and more companies have been going global, so it makes sense that they are seeing more cross-border litigation than in the past,” says Dennis Tracey, the Hogan Lovells partner in charge of the study. “But the increase is changing the way companies are managing litigation.”

Read the full story.

Cross-Border Disputes: Navigating a Way Through

Your morning starts with you fielding a number of questions about your bank’s on-going investigations into benchmark manipulation, following probes by US and Canadian regulators. Later, you attend a board meeting to give an update on fraud proceedings in the English courts against a former Russian broker.

Sound at all familiar? This is the type of challenge that now faces senior management and in-house counsel in multinational institutions.

Read the full story.

Cross-Border Contract Disputes Set to Increase

The number of cross-border legal disputes are expected to grow in the coming years, a survey of lawyers across the world has found.

The 2013/12 Global Currents: Trends in Complex Cross-Border Disputes study found half of the 146 respondents expect an increase in such cases over the next two years. Some 30 per cent of respondents’ caseloads consisted of cross-border disputes.

The study by Hogan Lovells found customers and suppliers were the main sources of cross-border disputes — most often over commercial, contractual or intellectual property issues. A quarter of businesses clashed with regulators. The lawyers said they have spent anywhere from $2.3 million (£1.3 million) to $6.5 million (£3.8 million) on disputes involving between two and five different countries.

Read the full story.

Cross-Border Disputes on the Rise, Say Corporations

Cross-border disputes account for almost a third of multinational corporations’ legal spend, a new survey has revealed.

The poll of 146 senior lawyers and executives across 18 industries, carried out by international firm Hogan Lovells, found almost half of respondents had seen cross-border disputes become more frequent in the past two years.

Companies reported they most often had to manage the disputes in China, England, France and Germany, with the most challenging markets in the US, China, Brazil and India.

The biggest issue in these jurisdictions was finding quality local counsel, as well as managing differences in legal systems and overcoming different time zones, languages and cultures.

Read the full story.

They Hoped Diamonds Were Forever – but Things Didn’t Quite Work Out That Way for a Group of Bankers Convicted of a $173M Fraud

The Chatila jewellery emporium in Geneva is known by the world’s super-rich cognoscenti for being one of the select few destinations for the world’s finest diamonds. While its Bond Street store in London attracts a celebrity crowd, its flagship in Geneva pulls in the more discreet financier types. Its vaults boast one of the world’s very few red diamonds, and the historic 61.37 carat deep red ruby, The Burmese Excellence.

With such an inevitably wealthy clientele, it was not entirely out of the ordinary when, one October day in 2011, a well-set gentleman walked in and bought a 10-carat diamond ring for $1.7m (£1m). He faxed a payment instruction to his Swiss private bank Bordier, agreeing to collect the piece later that week. When he returned a couple of days later, it was with his attractive Latvian wife, and not only did they pick up the ring, but they bought two more, this time with pink and yellow diamonds, costing $2m.

Read the full story.