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Mareva Injunction: 50 Years of Freezing Assets
Lee esta entrada en español This year marks the 50th anniversary of the Mareva injunction, a landmark remedy in the common law tradition. Essentially, it is a court order that prohibits the defendant from disposing of their assets during proceedings—preventing them from hiding or transferring them out of the jurisdiction before a judgment is rendered.…
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🇪🇸 Mareva Injunction: 50 años congelando activos
Read this post in English Este año se celebra el 50º aniversario de la Mareva injunction, una figura jurídica clave del derecho anglosajón. Se trata, básicamente, de una orden judicial que prohíbe al demandado disponer de sus bienes durante un proceso, impidiéndole ocultarlos o sacarlos de la jurisdicción antes de que haya sentencia. En términos…
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🇪🇸 Recuperación de activos en casos graves de fraude : Vía penal española vs. mecanismos civiles del common law
Read this post in English Introducción En casos graves de fraude, como el soborno (cohecho), la corrupción, o las insolvencias punibles, la localización, congelación y recuperación de activos ilícitos es crucial para resarcir a las víctimas y desincentivar estas conductas. Tradicionalmente, en jurisdicciones de common law (como Reino Unido o EE.UU.), las víctimas suelen recurrir…
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Criminal or Civil? Spain’s Asset Recovery Advantage in Serious Fraud Cases
Lee esta entrada en español Introduction Asset recovery in cases of bribery and corruption (and other serious fraud cases) often pits criminal law remedies against civil litigation tools. In common law jurisdictions such as England and the United States, practitioners frequently rely on civil asset tracing and recovery mechanisms – for example, freezing injunctions (Mareva…
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The Evolution of the Diamond Industry: Key Updates and the Role of Blockchain Technology in Traceability
The diamond industry is a dynamic ecosystem undergoing significant transformation due to geopolitical pressures, shifting consumer preferences, and technological advancements. As of 2024, developments in this sector have highlighted both challenges and opportunities. Here’s a deep dive into the most recent updates, with a focus on the increasingly pivotal role of blockchain technology in diamond…
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Harmonizing Insolvency Law Across the EU: A Path to Predictability and Efficiency
In an interconnected world where business transactions often transcend borders, insolvency law plays a crucial role in providing clarity and fairness during financial distress. Yet, in the European Union (EU), the absence of harmonized insolvency frameworks creates significant challenges. Fragmented national laws lead to inefficiencies, varied recovery outcomes, and higher costs for creditors, debtors, and…
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EU Directive 2024/1260 on Asset Recovery and Confiscation: Strengthening Europe’s Fight Against Economic Crime
On January 26, 2024, the European Union introduced Directive 2024/1260, a vital legislative framework aimed at improving asset recovery and confiscation across EU Member States. This directive targets the financial power of organized crime by enhancing the ability of authorities to trace, freeze, and confiscate proceeds of criminal activity. By addressing key gaps in the…
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The Projected EU Sanctions on Russian Diamonds and the Mechanisms of Diamond Traceability
Introduction The impending decision by the European Union to impose sanctions on Russian diamonds from 2024 signifies a pivotal shift in the global diamond industry. These sanctions, part of a broader set of measures against Russia, not only respond to geopolitical tensions but also highlight the increasing importance of ethical sourcing and traceability in the…
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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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Tracing of assets of the insolvency estate in the EU – the Proposal for a new Directive harmonizing certain aspects of insolvency law
On 7 December 2022, the European Commission published its “Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law“. The Proposal is published when the previous Directive dealing with insolvency law (Directive 2019/1023 on preventive restructuring frameworks) is still in the process of being transposed to all…
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Hector Sbert 