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Thought Leaders

Thought Leaders

Michele Caratsch

Michele Caratsch

Baldi & CaratschZeltweg 44ZurichSwitzerland8032
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Thought Leader

WWL Ranking: Global Elite Thought Leader
WWL Ranking: Thought Leader

WWL says

Michele Caratsch is highly experienced in complex asset recovery matters, and stands out for his excellent work on multi-jurisdictional proceedings.

Questions & Answers

Michele Caratsch holds a law degree from the University of Zurich and a master of laws degree from New York University. He is admitted to the Zurich Bar and to the New York Bar, and has extensive experience in the field of transnational civil and fraud litigation, leading specialist teams of lawyers, forensic accountants and investigators. Michele Caratsch is the Swiss representative of ICC FraudNet, a global network of leading attorneys in anti-fraud litigation.

HOW HAS THE ASSET RECOVERY MARKET CHANGED IN THE PAST 10 YEARS?

Dramatically. It has developed from a niche into a major practice area, with increased competition.

WHAT QUALITIES MAKE A SUCCESSFUL ASSET RECOVERY SPECIALIST?

Legal know-how; stamina; client focus; understanding of foreign legal systems and foreign cultures; and a lot of creativity.

WHAT IMPACT HAS THE GROWING PRESENCE OF THIRD-PARTY FUNDERS IN ASSET RECOVERY CASES HAD ON THE MARKET AND LEGAL PRACTICE?

Litigation funding has been a real booster for several asset recovery initiatives. Cases that the victims could not have brought about for lack of funds have been made possible through the intervention of litigation funders.

CRYPTOCURRENCY IS BECOMING MORE POPULAR TO HOLD AS AN ASSET. WHAT CHALLENGES DOES THIS POSE TO ASSET RECOVERY SPECIALISTS?

Ever since the creation of cryptocurrency and blockchain, this new technology has been misused for, among other things, money laundering, ransomware attacks and other criminal activities. New technologies require new regulations to avoid abuse. Cryptocurrency should not become a dead end for asset recovery, but specialists in this area need to follow up on this development and understand it, from both a legal and a technical perspective, in order to be on a level playing field with fraudsters taking advantage of the loopholes in the system.

HOW DOES BALDI & CARATSCH DISTINGUISH ITSELF FROM THE COMPETITION IN THE ASSET RECOVERY SPACE?

We are a conflict-free litigation boutique and proven experts in this field, with a track record going back 15 years. We combine our expertise with the possibility of relying on a broad international network of equally specialised firms through our membership in ICC FraudNet.

WHAT ARE THE MAIN TOOLS OF ASSET RECOVERY PRACTICE IN SWITZERLAND? 

In a civil law jurisdiction such as Switzerland, civil discovery is very limited, and the access to information relating to bank accounts restricted. Whenever fraud is involved, by filing a criminal complaint victims might take advantage of the investigative tools of law enforcement and access the information thus collected in support of civil asset recovery proceedings. A further tool is insolvency, whereby legitimate creditors can force a vehicle used by a fraudster into bankruptcy, causing the fraudster to lose control over the assets and the vehicle holding them, and having to defer to an independent bankruptcy trustee providing for a fair redistribution to the victim of a fraud.

ASSET RECOVERY WORK HAS BECOME INCREASINGLY INTERNATIONAL DUE TO ECONOMIC GLOBALISATION. HOW HAVE YOU ADAPTED YOUR PRACTICE TO MEET THIS CHALLENGE?

My vision is to perfect the impact of dedicated international networks, such as ICC FraudNet, in order to create multi-jurisdictional, highly skilled legal teams that are able to face the challenges of organised fraudsters by putting them against professionals who are able to fight them effectively by adopting all legal, technological and practical tools available to the profession.

WHAT HAS BEEN YOUR MOST INTERESTING CASE TO DATE, AND WHY?

Working as part of an international asset recovery team dealing with the fallout of the second biggest Ponzi scheme in history. The case included all aspects of an asset recovery effort, with combinations of criminal and insolvency law, fraud litigation and a flavour of regulatory law, all blended into a multi-jurisdictional environment.

WWL Ranking: Thought Leader

Global Leader

Asset Recovery 2019

Professional Biography

WWL Ranking: Global Elite Thought Leader

WWL says

Michele Caratsch draws high praise from sources who hail him as “one of the best for fraud-related asset recovery matters in Switzerland".

Biography

Michele Caratsch holds a law degree from the University of Zurich and a master of laws degree from New York University School of Law. He was admitted to the Zurich Bar in 1992 and to the New York Bar in 1995. He is a partner at Baldi & Caratsch.

He has extensive experience in the field of transnational civil and fraud litigation, arbitration and cross-border insolvency, and has been litigating and coordinating transnational asset recovery proceedings before civil, criminal and bankruptcy courts on behalf of victims of economic crimes, leading specialist teams of lawyers, forensic accountants and investigators.

He has represented victims of economic crimes, both companies and individuals, in criminal and civil recovery proceedings, by way of filing criminal complaints and lodging claims for damages. Most recently he has been acting as Swiss co-counsel to Stanford International Bank Ltd (in liquidation), Antigua, in view of recovering the proceeds of what has been qualified as the second-largest Ponzi scheme in history.

Michele Caratsch is the Swiss representative of ICC FraudNet, a global network of leading attorneys in anti-fraud litigation, operating under the auspices of the International Chamber of Commerce.

His publications include the co-authorship to the Swiss section of Asset Tracing & Recovery: the FraudNet World Compendium (Erich Schmidt Verlag, 2009), and he speaks on a regular basis at international conferences on these topics.

Michele Caratsch speaks fluent German, English and Italian, and has a working knowledge of Portuguese and Spanish.

WWL Ranking: Recommended

National Leader

Switzerland - Asset Recovery

Professional Biography

WWL Ranking: Recommended

WWL says

Michele Caratsch is highly experienced in complex asset recovery matters and stands out for his excellent work on multi-jurisdictional proceedings. 

Biography

Michele Caratsch holds a law degree from the University of Zurich and a master of laws degree from New York University School of Law. He was admitted to the Zurich Bar in 1992 and to the New York Bar in 1995. He is a partner at Baldi & Caratsch.

He has extensive experience in the field of transnational civil and fraud litigation, arbitration and cross-border insolvency, and has been litigating and coordinating transnational asset recovery proceedings before civil, criminal and bankruptcy courts on behalf of victims of economic crimes, leading specialist teams of lawyers, forensic accountants and investigators.

He has represented victims of economic crimes, both companies and individuals, in criminal and civil recovery proceedings, by way of filing criminal complaints and lodging claims for damages. Most recently he has been acting as Swiss co-counsel to Stanford International Bank Ltd (in liquidation), Antigua, in view of recovering the proceeds of what has been qualified as the second-largest Ponzi scheme in history.

Michele Caratsch is the Swiss representative of ICC FraudNet, a global network of leading attorneys in anti-fraud litigation, operating under the auspices of the International Chamber of Commerce.

His publications include the co-authorship to the Swiss section of Asset Tracing & Recovery: the FraudNet World Compendium (Erich Schmidt Verlag, 2009), and he speaks on a regular basis at international conferences on these topics.

Michele Caratsch speaks fluent German, English and Italian, and has a working knowledge of Portuguese and Spanish.

Switzerland - Investigations

Professional Biography

WWL Ranking: Recommended

WWL says

Michele Caratsch is well known for his strong expertise in white-collar crime matters as well as the first-rate counsel he delivers to clients in corporate investigations. 

Biography

Michele Caratsch holds a law degree from the University of Zurich and a master of laws degree from New York University School of Law. He was admitted to the Zurich Bar in 1992 and to the New York Bar in 1995. He is a partner at Baldi & Caratsch.

He has extensive experience in the field of transnational civil and fraud litigation, arbitration and cross-border insolvency, and has been litigating and coordinating transnational asset recovery proceedings before civil, criminal and bankruptcy courts on behalf of victims of economic crimes, leading specialist teams of lawyers, forensic accountants and investigators.

He has represented victims of economic crimes, both companies and individuals, in criminal and civil recovery proceedings, by way of filing criminal complaints and lodging claims for damages. Most recently he has been acting as Swiss co-counsel to Stanford International Bank Ltd (in liquidation), Antigua, in view of recovering the proceeds of what has been qualified as the second-largest Ponzi scheme in history.

Michele Caratsch is the Swiss representative of ICC FraudNet, a global network of leading attorneys in anti-fraud litigation, operating under the auspices of the International Chamber of Commerce.

His publications include the co-authorship to the Swiss section of Asset Tracing & Recovery: the FraudNet World Compendium (Erich Schmidt Verlag, 2009), and he speaks on a regular basis at international conferences on these topics.

Michele Caratsch speaks fluent German, English and Italian, and has a working knowledge of Portuguese and Spanish.

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