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International Asset Recovery Services

by | Feb 10, 2021 | 1782 Blog

WHO WE ARE:  Marks & Sokolov is a boutique litigation law firm with offices in the United States and Russia, that for over twenty years has served ultra-high net worth individuals and their family offices, foreign and Russian banks and other creditors in arbitration, litigation and investigation matters. This includes complex international asset search and seizure of debtor properties of debtors located within the U.S.

WHAT WE DO:  We have developed a line of international discovery/asset recovery products and have earned a solid track record of beneficial results for our clients.  Our international discovery/asset recovery products include:

International Discovery: We obtain bank records, documents, and witness testimony from sources within the U.S. under 28 U.S.C. §1782 for use in foreign proceedings.  This is a relatively quick and efficient method for obtaining crucial financial information to uncover and recover assets.  Our successes include:

  • A Russian diamond mining company obtaining wire records from multiple banks revealing $42 million in suspicious transfers.
  •  A ultra-high net worth client obtaining documents regarding the ownership structure of Renova Group and the deposition of Victor Vekselberg for use in Russian proceedings.
  • A Canadian company obtaining documents for use in litigation to recover under their policy against a major insurance company

Foreign Bankruptcy Recognition: We obtain recognition of foreign bankruptcies in order to take discovery and collect assets under Chapter 15 of the U.S. Bankruptcy Code. Our successes include: 

  • Obtaining U.S. court recognition of two Russian bankruptcies, including the first recognition of a Russian bank bankruptcy. 
  • Obtaining turnover of a Russian debtor’s assets held by a New York based trust, including substantial real estate holdings and bank deposits.
  • Obtaining an award of attorney fees and sanctions against debtor’s attorney for failure to comply with court orders. 

Foreign Judgment Enforcement: We obtain recognition of foreign judgments in the U.S. in order to locate assets and enforce judgments.   Our successes include:

  • Obtaining recognition of a multi-million dollar Russian judgment in Connecticut arising from the Russian divorce of a prominent Russian businessman.
  • Obtaining recognition and confirmation of foreign commercial arbitration awards as federal court judgments in Oklahoma and Oregon.
  • Providing key information to U.K. attorneys on foreign judgment recognition and execution actions in Virginia and Texas, related to defaulted Indian bank loans.

WHY MARKS & SOKOLOV Marks & Sokolov employs creative thinking and technical expertise with well-balanced aggressive advocacy to achieve impressive results in difficult international disputes.  Our advocates are trial ready and focused on obtaining comprehensive results in a cost effective manner.  We regularly take cases to trial in federal and state courts throughout the United States and arbitrate in forums throughout the world.  Our team includes Russian speaking American attorneys and Russian attorneys that can provide guidance on Russian law and business customs.  We are sensitive to the needs of our Russian, Ukrainian and Kazakh clientele, understand the culture and highly regard the importance of personal relationships and trust.  We staff projects with experienced attorneys ready to hit the ground running and, unlike large firms, do not staff projects in order to train junior attorneys.  We are cost competitive and offer fixed fee services with success premiums.

LET US EARN YOUR TRUST  We want to earn your trust and at no charge, are happy to meet and discuss your needs and how we may offer effective solutions.  We welcome the opportunity to schedule VIP seminars for top managers/shareholder representatives on our asset recovery products.  At Marks & Sokolov, we are passionate about winning and are proud of our reputation for perseverance and thoroughness.  We will not be outworked in our efforts to secure the most favorable outcome possible for our clients.

United States:                                                         Russia
Marks & Sokolov, LLC                                              OOO Marks & Sokolov
1835 Market Street, 17th Fl.                                     21/5 Kuznetsky Most, Entrance 1, Suite 612
Philadelphia, PA,19103                                            Moscow, 107996, Russia
Phone: (215) 569-8901                                            Tel: +7 (495) 626-0606
Tsullivan@mslegal.com                                            mowoffice@mslegal.com