Internationally Noted Attorneys Establish Sequor Law

New Firm to Focus on International Asset Recovery, Financial Fraud, Cross-Border Insolvency and Financial Services Litigation

MIAMI – April 11, 2017 – Edward H. Davis, Jr., a founding shareholder of Astigarraga Davis, today announced the opening of Sequor Law to focus on representing clients internationally in asset recovery, financial fraud, cross-border insolvency and financial services litigation. Sequor Law’s attorneys include all members of the Astigarraga Davis top-ranked asset recovery team.

Jose Astigarraga and the other attorneys in the firm’s international arbitration practice have moved their practice to join a global law firm.

Davis and Gregory Grossman, another founding shareholder, consider this a natural next step in the development of their respective law practices.

“We are energized about the evolution of our practices. The new platform of Sequor Law will better position us to meet a growing global demand for our high-quality legal counsel,” said Davis, a certified fraud examiner who has been recognized as the Asset Recovery Lawyer of the Year for the past four years by Who’s Who Legal and who has an internationally recognized financial fraud, asset recovery and international litigation practice. “It will enable the attorneys at Sequor Law to continue building upon our unique strengths and pursue significant new opportunities in areas we excel, while also becoming more nimble in today’s ever-changing legal environment.”

Added Davis: “Sequor Law derives its name from the Latin word ‘to pursue, to chase, to attain,’ and signifies our core values: the agile, aggressive, and relentless pursuit of assets and success on behalf of our clients.”

Sequor Law’s international insolvency and financial services litigation practice is headed by Grossman. He will focus his practice on creditors’ rights, bankruptcy, insolvency litigation, and operational bank litigation.  Grossman filed the first Chapter 15 Petition in the state of Florida and is recognized as a thought leader in the use of cross-border insolvency proceedings on behalf of creditors and fraud victims.

Sequor Law’s multi-lingual team includes:

  • Arnoldo Lacayo, a shareholder, certified specialist in asset recovery, and incoming chair of The Florida Bar International Law Section who focuses his practice on international corruption investigations and asset recovery for governments and state-owned enterprises
  • Daniel  Coyle, an associate who represents creditors and insolvency practitioners in domestic and international insolvency matters
  • Nyana Abreu Miller, an associate who focuses her practice on asset recovery for women in cross-border divorce cases
  • Cristina Vicens Beard, an associate focusing her practice on representing victims in the recovery of assets in cross border frauds

At Sequor Law, the attorneys will continue their collaboration with ICC FraudNet, a world-class network of specialized attorneys, best-in-class investigators, and forensic accountants.

About Sequor Law

Sequor Law is a Miami-based international law firm representing financial institutions, sovereign governments and state owned enterprises, public and non-public companies, insolvency practitioners and individual clients in the areas of asset recovery, financial fraud, insolvency and financial services litigation. More information is available at www.SequorLaw.com

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Fla. Judge OKs Espirito Santo’s $8M Deal With Bankrupt Bank

By Carolina Bolado

A Florida bankruptcy judge on Tuesday indicated that she would sign off on an $8 million settlement ending bankrupt Brazilian bank Banco Santos SA’s racketeering and tort suit against Portugal-based Espirito Santo Bank.

In a hearing in Miami, U.S. Bankruptcy Judge Laurel Isicoff said she would sign off on an order preliminarily approving a deal that resolves a suit filed by Banco Santos’ court-appointed administrator Vanio Cesar Pickler Aguiar claiming the bank lost $38.7 million through ESB’s fraud and money laundering.

The judge noted that there were no objections filed to the settlement agreement and urged the attorneys to get the order in quickly so that she could sign off on it before the holiday break.

In the adversary proceeding, filed in December 2013, Aguiar claims that ESB diverted millions in Banco Santos’ assets through various corporate entities to Florida, from which they were transferred offshore and laundered, according to the complaint. In the suit, Aguiar requested not just the $38.7 million the bank allegedly lost, but also treble damages of $116 million.

ESB rebuts all of the claims in the complaint.

Banco Santos was ordered into a court-supervised liquidation by the Second Bankruptcy and Judicial Reorganization Court of Sao Paulo in September 2005. Aguiar filed a Chapter 15 petition in December 2010 in the Southern District of Florida listing $500 million to $1 billion in assets and more than $1 billion in liabilities.

The Espirito Santo group, which traces to a storied Portuguese banking family, saw four of its companies file for creditor protection in July after a central bank audit two months earlier had turned up accounting irregularities at Espirito Santo International SA, the group’s holding company.

The Portuguese central bank in August unveiled a plan to split up BES, the country’s second-largest lender, under a rescue plan backed by €4.9 billion ($6.4 billion) in state money after the bank failed to weather losses on its exposure to the Espirito Santo group.

Authorities in several countries are investigating the dealings of the Espirito Santo empire.

Switzerland’s financial regulator said in September that it is looking into the distribution of financial products by a Swiss bank, Banque Privee Espirito Santo SA, which is tied to the Espirito Santo group.

Aguiar is represented by Edward H. Davis Jr., Gregory S. Grossman, Arnoldo B. Lacayo and Nyana A. Miller of Astigarraga Davis.

ESB is represented by Samuel J. Capuano and Gary M. Freedman of Tabas Freedman.

The adversary proceeding is Aguiar v. Espirito Santo Bank, case number 1:13-ap-01934, in the U.S. Bankruptcy Court for the Southern District of Florida.

The bankruptcy is In re: Banco Santos SA, case number 1:10-bk-47543, in the U.S. Bankruptcy Court for the Southern District of Florida.

 

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