Raedas was established by experienced investigators to provide specialist knowledge and a tailored approach in high-stakes international litigation and arbitration. Headquartered in London, the firm assists legal counsel and senior management to gather evidence, intelligence and develop strategies in disputes, internal investigations and other contentious situations.
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Raedas reposted this
A delicious and very generous selection of conference chocolates here in #Yerevan. 👍 💯 But seriously, it's great to be back in #Armenia with Raedas and Andrew Williams for the Second Annual Armenian International Arbitration Conference. Looking forward to catching up with friends new and old throughout the day and learning about the work of the Arbitration and Mediation Center of Armenia. #arbitration #disputes #investigations
The Raedas team will be in Mexico City for the International Bar Association annual conference from 14 to 20 September. Founding partner Joana Rego will be joined by directors Eric W., William Teddy and Head of Business Development, Eleanor C.. Joana will be speaking on the panel ‘Asset Recovery Hot Topics: Mexico, Latin America and the Caribbean in Focus’ on Wednesday 18 September alongside Rodrigo Callejas (Carrillo y Asociados - Estudio Jurídico), Katie Pearson (Claritas) and Luis Fernando Palomino Bernal (Palomino, Flores, Hernández Abogados), moderated by Pedro Serrano Espelta. Learn more about Raedas here: https://lnkd.in/euJh4c8c
Andrew Wordsworth and Nicholas Bortman, Co-Founding Partners of Raedas have once again been ranked as ‘Top Recommended’ advisers in the 2024 edition of Spear's Magazine 500, in the category for Security, Intelligence and Investigations. This marks the second consecutive year that Andrew and Nicholas have received this recognition. Read more about their ranking: https://lnkd.in/gHGS_ejS
Tobi summarises very elegantly this very well argued decision, essential reading for anyone, like us, who has been baffled by the UK definition of control for the purpose of sanctions.
A multi-jurisdictional insolvency that Raedas has been working on since 2020 has led to a landmark ruling on the interpretation of “control” under the 2019 Russia Regulations regarding sanctions. Until the Supreme Court rules on the issue and deals with the judicial inconsistencies in Mints and Litasco, this ruling will be the yardstick, also because Thompsell J found that guidance provided by OFSI/FCDO in late 2023 aligned with his line of argument. In context of the bankruptcy of Russian banker Anatoly Motylev, the Trustees sought guidance from the court as to the interpretation of Regulation 7 of the 2019 Regulations, particularly the vague wording of Regulation 7(4) which deals with the hypothetical exercise of control. The Trustees were concerned that a group of Russian banks, which Motylev formerly owned and controlled, may qualify as sanctioned parties. While Thompsell J did not rule on the status of the Russian banks, he introduced and expanded on the evidence necessary to establish four types of control: 1) De jure control, evidenced by statutory and constitutional provisions of a company; 2) Actual present de facto control, evidenced by past examples where the putative controlled has exercised decisive influence to control what is happening at an organisation; 3) Potential future de jure control, evidenced by the existence of agreements to acquire a majority stake in an organisation; and 4) Potential future de facto control which, Thompsell J ruled, will be a rare occurrence and difficult to evidence. Thompsell J’s arguments, particularly his example scenarios for potential future de facto control, are sensible, practical and highlight the “absurdity” of the wording of Regulation 7(4) and subsequent judicial interpretations. For instance, Thompsell J noted that “it would be absurd to say that any billionaire should be regarded as having control of every company that the billionaire could clearly afford to purchase”. He further stated that the billionaire who is providing a purchase bid above the company’s share price would still be reliant on other peoples’ decisions, including the acceptance of the offer by the shareholders. However, this example is of limited applicability in the Russian context where informal practices are prevalent and the proverbial handkerchief contract is not uncommon in business. (Hostile) takeovers of Russian companies are rarely as civilised as Thompsell J outlined. They often involve a degree of coercion that overrides any hypothetical shareholder opposition. More often than not, the takeover price is lower than the fair market value of the company. In this instance, Thompsell J was to rule on the control of a public body (the DIA) by two designated public officials. Based on evidence provided to him, he states that the DIA and by extension the Russian banks were not sanctioned. But further evidence on Russian law and governmental practice was required to make an official declaration
Raedas reposted this
A multi-jurisdictional insolvency that Raedas has been working on since 2020 has led to a landmark ruling on the interpretation of “control” under the 2019 Russia Regulations regarding sanctions. Until the Supreme Court rules on the issue and deals with the judicial inconsistencies in Mints and Litasco, this ruling will be the yardstick, also because Thompsell J found that guidance provided by OFSI/FCDO in late 2023 aligned with his line of argument. In context of the bankruptcy of Russian banker Anatoly Motylev, the Trustees sought guidance from the court as to the interpretation of Regulation 7 of the 2019 Regulations, particularly the vague wording of Regulation 7(4) which deals with the hypothetical exercise of control. The Trustees were concerned that a group of Russian banks, which Motylev formerly owned and controlled, may qualify as sanctioned parties. While Thompsell J did not rule on the status of the Russian banks, he introduced and expanded on the evidence necessary to establish four types of control: 1) De jure control, evidenced by statutory and constitutional provisions of a company; 2) Actual present de facto control, evidenced by past examples where the putative controlled has exercised decisive influence to control what is happening at an organisation; 3) Potential future de jure control, evidenced by the existence of agreements to acquire a majority stake in an organisation; and 4) Potential future de facto control which, Thompsell J ruled, will be a rare occurrence and difficult to evidence. Thompsell J’s arguments, particularly his example scenarios for potential future de facto control, are sensible, practical and highlight the “absurdity” of the wording of Regulation 7(4) and subsequent judicial interpretations. For instance, Thompsell J noted that “it would be absurd to say that any billionaire should be regarded as having control of every company that the billionaire could clearly afford to purchase”. He further stated that the billionaire who is providing a purchase bid above the company’s share price would still be reliant on other peoples’ decisions, including the acceptance of the offer by the shareholders. However, this example is of limited applicability in the Russian context where informal practices are prevalent and the proverbial handkerchief contract is not uncommon in business. (Hostile) takeovers of Russian companies are rarely as civilised as Thompsell J outlined. They often involve a degree of coercion that overrides any hypothetical shareholder opposition. More often than not, the takeover price is lower than the fair market value of the company. In this instance, Thompsell J was to rule on the control of a public body (the DIA) by two designated public officials. Based on evidence provided to him, he states that the DIA and by extension the Russian banks were not sanctioned. But further evidence on Russian law and governmental practice was required to make an official declaration
Raedas has been recognised as a market leader in the Chambers and Partners 2024 Litigation Support Guide for the 6th consecutive year, maintaining a Band 1 ranking for the firm in both the Business Intelligence & Investigations and Asset Tracing & Recovery categories. Our three co-founding partners, Nicholas Bortman, Joana Rego and Andrew Wordsworth, remain Band 1 ranked for Litigation Support: Business Intelligence & Investigations. Joana and Nicholas also maintain their Band 1 ranking for Global Asset Tracing & Recovery. You can read more here: https://lnkd.in/esCZJY7S
Raedas are pleased to announce the strategic hire of Eleanor C. as Director of Business Development & Marketing. Eleanor will be based in London, but working closely with Raedas’s offices in Washington DC and Dubai. Eleanor will work with the senior team at Raedas to enhance existing client relationships and identify new opportunities across the London, US and Middle East markets, as well as in key regions such as Latin America, Africa and Asia. Eleanor joins Raedas from A&O Shearman, where she had global responsibility for BD across the International Arbitration team at Shearman & Sterling. Prior to that she spent four years at Mishcon de Reya supporting the Disputes group as well as the International Fraud Group, and nine years in the Paris and London offices of Simmons & Simmons, assisting the full-service healthcare and life sciences sector group. You can read more about Eleanor's appointment here: https://lnkd.in/eKckdKNh
On Wednesday 26 June Raedas partner Joana Rego will be speaking at Informa Connect Asset Recovery Americas in Washington DC on the panel ‘State of the nation: enforcing arbitration awards against sovereign states’. Joana will be speaking alongside Adrián Magallanes from Von Wobeser y Sierra, S.C. and Rodrigo Fermín García from Marval O'Farrell, Mairal to discuss best practices and strategies on how to recover against sovereign parties, with a focus on Latin America.
London International Disputes Week (LIDW) has officially commenced. This week brings together legal professionals from around the world to discuss international dispute resolution. Last night Raedas hosted a networking drinks at the Green Room alongside Bench Walk Advisors Ltd, Factor Risk Management and Litica. It was a great evening of conversations and connections, both new and old, and set the tone for the insightful discussions for the rest of the week.
Andrew Wordsworth attended ‘Play or Stay? Dilemma of Damages Compensation Caused by War?’ a joint event hosted by AGA Partners Law Firm and ICC Ukraine I Український національний комітет Міжнародної Торгової Палати. Andrew spoke alongside Iryna Moroz, Pavlo Lebediev and Dariia Zyma from AGA Partners Law Firm, Maria Kostytska from Winston & Strawn LLP, Olesya Prantyuk from HKA, Alexander Milner KC from Fountain Court Chambers and Dmytro Shemelin from Omni Bridgeway.