Fraud is a major risk for businesses today and, with increasing international investment in the country’s major sectors, the Japanese government has recently turned its attention to amending laws relating to asset recovery. Currently under discussion are amendments to the Civil Code that would include cancellation and recovery of fraudulent transactions, the statute of limitations on certain types of claims and recovery of assets sold through auctions.
This year, we single out 326 practitioners from 188 firms who are considered leading lawyers in asset recovery law. Several firms stand out due to the high number of listings they achieve, with Appleby taking the top spot. It has individuals from five jurisdictions singled out, with its Bermuda and Cayman Island offices especially well represented. Following closely behind is Kobre & Kim, which has lawyers from its London, New York and Washington, DC offices featured. Other notable firms include Walkers, Hogan Lovells, Al Tamimi & Company and Harney Westwood & Riegels. We also select the 10 most highly regarded individuals in the world as voted for by their peers and corporate counsel.
For the first time we also list the leading forensic accountants and digital experts skilled in asset tracing and recovery. Deloitte has the most specialists recognised, while FTI Consulting, Kroll, PricewaterhouseCoopers and KPMG all perform extremely well.
For this third edition, Who’s Who Legal has called upon hundreds of hours of interviews with asset recovery specialists around the world discussing activity in the sector and emerging trends. In this section we draw on our findings to provide a global outlook of the latest developments in the marketplace.
The status of gateway cities such as London, New York and San Francisco as “safe havens” has led to an influx of foreign investment, creating frenzied activity among investors competing for limited real estate opportunities. With this sharp rise in activity, law firms are turning their attention to staffing needs and reassessing their position in the market – resulting in a dynamic legal marketplace over the last year as some firms bolster their real estate practices and others quit the market for good.
In this section we single out the leading firms and practitioners in our research.
Toby Graham of Farrer & Co explores the implications of FHR v Cedar: "The clarification of the law in relation to bribes and secret commissions is to be welcomed, though the judgment lacks a clear doctrinal rationale for imposing a trust, leading to some uncertainty as to its scope. This may result in litigants seeking to apply the principle established in FHR v Cedar to other unauthorised gains."
This year, our listings comprise of 609 practitioners recognised across three distinct areas within capital markets law; debt and equity, Islamic finance and structured finance. Clifford Chance leads the way in our research with individuals recognised in all three sections. Following closely behind is Allen & Overy, which has practitioners from its offices across the Middle East, Asia-Pacific and Europe singled out. Four further firms also stand out; Linklaters, Latham & Watkins, Freshfields Bruckhaus Deringer and Sidley Austin. We also recognise the leading individuals in the world for debt and equity, Islamic finance and structured finance.
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.