Civil Fraud
LK investigates acts of corporate fraud, traces and recovers misappropriated assets and brings related civil claims on behalf of clients, including companies that have collapsed as a consequence of major acts of fraud. Our team includes technology specialists and former finance professionals, whose skills and experience are a distinct advantage when unravelling sophisticated and multi-jurisdictional frauds and pursuing civil remedies for our clients.
Our experience
Al Gosaibi Family & Group (AHAB)
Advised and represented AHAB, a family-owned Saudi business conglomerate, in connection with its multi-billion dollar civil fraud dispute with Maan Al Sanea and his group of companies. This included defending and settling claims by more than 100 banks around the world, and bringing proceedings against Maan Al Sanea and his Saad group in the Cayman Islands. See case study below.
Adelaide Brighton Cement Limited
Represented ASX-listed construction materials and industrial minerals company in the investigation of an employee fraud which resulted in a customer receiving AU$32 million of cement but paying just AU$20 million. Led recovery proceedings against the insolvent customer and the employee, resulting in recoveries of more than AU$11 million.
Public Institute for Social Security (Kuwait) v Mombelli
Represented several defendants in an international fraud claim of approximately US$874 million brought in the UK Commercial Court by the public institution responsible for operating the State of Kuwait’s social security system and pension scheme.
3D Gold Jewellery Holdings
Represented the liquidators of the 3D Gold Group, which collapsed with claims of over HK$2.5 billion following the death of its Executive Chairman and the subsequent discovery that 810kg of gold bullion was missing. Brought audit negligence proceedings against a Big Four accounting firm concerning the alleged misstatement of audited financial statements.
High Court Contempt Proceedings
Represented defendant to a fraud claim in the UK High Court with the preparation of detailed witness evidence and submissions, which ultimately lead to the successful delay of contempt proceedings until after trial and an application for the scope of the contempt to be significantly reduced.
Recovery of Digital Assets
Representing a Mexican high net worth individual in English proceedings regarding the recovery of misappropriated digital assets.
Case Study
Al Gosaibi Family & Group (AHAB)
LK have been the key advisors for AHAB, a family-owned Saudi business conglomerate, for over a decade, beginning with the multi-billion dollar civil fraud perpetrated by Maan Al Sanea and his Saad group, which resulted in AHAB owing US$9.2 billion to more than 100 creditor banks around the world.
LK acted for AHAB to defend and settle extensive claims brought by those banks in several jurisdictions, including the Commercial Court in London, and to bring proceedings against Maan Al Sanea and his group of companies in the Cayman Islands. We played a significant role in project managing key aspects of the dispute, including an appeal to the Cayman Islands Court of Appeal.
Most recently, LK has advised AHAB on the first scheme of arrangement ever attempted in Saudi Arabia, which was approved by the Commercial Court and AHAB’s creditors. LK has worked closely with AHAB and Saudi Arabian Trustee in Bankruptcy to formulate and implement this Proposal, under which a number of payments have already been made to approved creditors and a real estate fund has been established.
Small but effective. This outstanding team vies competitively with the best litigation firms in London, and it excels at cases involving asset recovery, nationally and internationally.
Legal 500