Cooperation with Partners of Ukraine in Building Democratic and Law-Governed State
17.05.2021

Assets recovery and compensation of banking institutions` losses

Asset Recovery and Compensation of Banking Institutions` Losses

Asset recovery is one of the key Prime Partners` specializations. Searching for bank loans debtors` assets, encumbrance, preservation and confiscation of assets in favor of the bank is one of the most relevant examples of services in Asset Recovery practice. Combination of such practice`s tools andour experts` unique experience is also suitable for compensation of bank losses caused by temporary occupation of part of the territory of Ukraine in the Crimea, Donetsk and Luhansk regions.

ASSET RECOVERY TO BANKS

Prime Partners offers banks a comprehensive asset recovery product, which may include the following services entirely or partly.

  1. Cross-border asset tracing for seizures and collection with application of innovative tools of open-source intelligence (OSINT), human intelligence, geospatial, imagery intelligence involving specialized partners on intelligence in Ukraine and abroad, etc.;
  2. Strategic planning, including choice of jurisdictions, encumbrance and asset recovery tools, control and coordination of multinational team of asset recovery experts work, etc.;
  3. Analytics and evidence base development to encumber property injurisdictions of location, including identification of real beneficiaries; legal support and coordination of encumbrances in criminal and/or non-criminal proceedings in Ukraine and abroad;
  4. Ensuring retention (management) of encumbered assets in jurisdictions of location;
  5. Legal support and coordination of assets confiscation by national, foreign courts and international jurisdictional authorities;
  6. Legal support of enforcement of national, foreign courts and international jurisdictional authorities’ judgements on direct confiscation of assets.

COMPENSATION OF BANKS LOSSES CAUSED BY THE TEMPORARY OCCUPATION

Prime Partners is ready to provide banks with comprehensive services to compensate losses caused by temporary occupation of the part of Ukraine’s territory in the Crimea, as well as in Donetsk and Luhansk regions including following areas.

  1. Strategic planning of investment dispute for recovery of damages based on extensive experience in investment arbitration with the Russian Federation, primarily, in the case of Oschadbank v. Russian Federation (PCA Case No. 2016-14), as well as in interstate disputes between Ukraine and the Russian Federation regarding its violations of series of UN conventions;
  2. Cross-border asset tracing for collection applying innovative tools of open-source intelligence (OSINT), human intelligence, geospatial, imagery intelligence involving specialized partners on intelligence in Ukraine and abroad;
  3. Analytics and evidence base development for future collection of specific assets under the tribunal judgment, the establishment of real beneficiaries;
  4. Coordinating of dispute in general, or participation in a multinational team of experts as a local advisor, or as experts on specific issues;
  5. After delivering judgement on compensation for losses – legal support on enforcement of judgment on direct assets confiscation in jurisdictions of their location, or participation in such a process as a local adviser.

RELATED SERVICES

Mentioned Prime Partners service packages are general and simplified. Our services may include a wider range of asset recovery and loss compensation tools. In particular, Prime Partners can:

  • organize co-financing of litigation (Litigation funding);
  • provide expert support in litigation (collecting information related to the opponent and its analysis; organization of witness statements, expert reports by recognized experts of the area, etc.);
  • find legal and effective arguments to motivate debtors to a peaceful settlement;
  • offer alternative ways to satisfy recovery claims of the bank.

OUR ADVANTAGES

  1. We offer a comprehensive product – from tracing assets to the actual forfeiture of such assets, including abroad;
  2. We build a recovery / compensation strategy around the purpose of enforcement of future jurisdictional authority`s judgement, based on the assets, which will be subject to forfeiture after delivering judgement;
  3. We apply best practices and successful international case studies on recovery of illegally acquired, transformed, hidden assets, as well as experience of current investment disputes on compensation for investors losses.

OUR EXPERTISE

Prime Partners experts have a unique portfolio in asset recovery area – as former TOP-rank officials, they drafted neoteric Ukrainian legislation on recovery of assets of illicit origin; participated in legislative drafting on special confiscation and sanctions; coordinated the representation of the state`s interests in investment disputes in 2014-2019 years as well as in the European Court of Human Rights.

One of several peaceful settlement agreements with foreign investor in the history was signed during the tenure of one partner of Prime Partners in the government. The other partner of Prime Partners was the first head of the Asset Recovery and Management Agency of Ukraine (ARMA) – the authority responsible for two important asset recovery components – tracing and management of seized assets.

Prime Partners master returning assets discipline in its entirety – from tracing and freezing assets found to forfeiture and disposal of such assets, including cross-border.

Prime Partners experts’ unique experience and reliable specialized partners allow us to apply innovative approaches to tracing of lost assets in Ukraine and beyond its borders, hidden connections of assets with specific individuals, real control relations and ultimate beneficiaries.