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Cyberfraud: What Responsibility Do Banks and Telecommunication Companies Have?
Introduction Cyberfraud is an increasingly frequent and serious problem that affects both customers and financial institutions. It involves a set of illegal techniques used by cybercriminals to obtain personal and banking information from users, access their accounts, carry out unauthorized transactions, or extort them by locking their electronic devices. Some of the most common types…
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Section 1782’s Influence and UNCITRAL’s Progressive Stance on International Asset Recovery
Introduction In the realm of international asset tracing and recovery, the landscape is marked by a paucity of efficient legal mechanisms for cross-border cooperation. This gap is highlighted by the unique characteristics of Section 1782 of the United States Code, a provision that stands out for its direct approach in assisting foreign legal proceedings. This…
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The ‘Spanish Saga’ in the Antin case and beyond: award recognition and asset recovery in EU investment arbitration
This article was first published in the newsletter of the Asset Recovery Committee of the International Bar Association Introduction Recently, on 24 May 2023, the High Court of London issued its long-awaited decision in the Antin case. The High Court dismissed the appeal against the registration (ie, the recognition) of the International Centre for Settlement of Investment Disputes (ICSID)…
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Journalists will be allowed to “stick their noses” into UBO registers. Right or wrong?
The debate around UBO registers drags on. As anticipated, Spain just launched its new UBO register (“UBOR”), adapted to the CJEU’s ruling of November 22, 2022. As is well known, such ruling declared that allowing access to UBORs to the general public in all cases was contrary to the right to privacy and to the…
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How to enforce crypto-related decisions in Spain?
This article was originally published at ICC FraudNet’s 2023 Global Annual Report: “Fraud and Asset Recovery in an Unstable World“, under the title “What about volatility? Enforcement of crypto-related decisions in Spain“. ICC FraudNet’s Global Report is a compilation of 28 original articles authored by 52 contributors beloging to the ICC FraudNet network, from some…
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Spain- New regulation on the access and use of the UBO Register
This post is dedicated to my good friend and ICC FraudNet fellow member, Martin Kenney, “the oracle of the BVI”. Martin had long proclaimed that unrestricted access to beneficial ownership registries was contrary to the right to privacy and would have a counterproductive effect in terms of asset tracing and recovery. As is well known,…
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Piercing the corporate veil in Spain
Avoiding the use of legal entities to commit fraud One of the most important elements of company law is the limitation of the liability of the partners or shareholders. It is of course permissible to articulate business activities through a company, so that the personal assets are protected from the eventual outcome of the company.…
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Don’t come to me with “Achmeas” nor “Komstroys”- ICSID “Antin” award fully enforceable in England against Spain, according to English Court
A London court ruled on 24 May 2023 that Spain can’t use state immunity nor EU law to avoid paying a €120 million ICSID arbitration award (the Antin award) for cutting back its economic incentives for renewable energy projects. The investors, Infrastructure Services Luxembourg SÀRL and Energia Termosolar BV, argued that Spain was bound by…
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ICC Spain’s podcast on “Arbitration & Asset Recovery”
I was happy to discuss all things “Arbitration & Asset Recovery” ahead of our Madrid event on the same topic of June 17. Thank you ICC Spain for the opportunity. You can listen to the podcast here (in Spanish).
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“Arbitration & Asset Recovery” event in Madrid on June, 17 – Registrations now open!
Registrations are now open for what promises to be an exciting event around “Arbitration & Asset Recovery” next June 17 at ECIJA in Madrid, Calle Serrano, 69. The event is co-organized by ICC Spain and ICC FraudNet with huge thanks to our sponsors Grant Thornton UK LLP and Ramco Litigation Funding. If you attend the Annual Congress of the Club Español del Arbitraje starting the next day, do…
Hector Sbert 