On May 14, 2004, the USA filed a forfeiture complaint at federal court in Washington, D.C. in an attempt to seize approximately $150 million of assets belonging to former Ukraine Prime Minister Pavlo Lazarenko that were held at Bank Julius Baer (Guernsey), Credit Suisse (Guernsey & Geneva), Bank of Nova Scotia (Antigua), Banque SCS Alliance (Geneva), VP Bank (Liechtenstein), LGT Bank (Liechtenstein), and Vilniaus Bankas (Lithuania). Lazarenko was convicted of money laundering fraud, and extortion in the USA in 2006.After more than ten years of legal fighting, the USA and Eurofed's liquidators finally settled the dispute last November.This session will look at the competing claims by the USA, the liquidators and Lazarenko, how the legal issues were decided and how the case affects other disputes between the USA and foreign liquidators.Speakers
- Jason Levine, Partner, Vinson & Elkins (Washington, D.C.)
Comment