This week’s tip-sheet covers claims for breach of fiduciary duty which can be brought against public officials who have been involved in conduct contrary to their duty to act in the state’s best interests. We detail potential defendants and explain the principles that need to be established at court (and those that do not). We also look at the alternative methods of calculating damages. The tip-sheet is available here.
Welcome to our blog.
Cooley has a proven team representing states and companies seeking to trace, freeze and recover the proceeds of corruption or fraud, or obtain compensation for corrupt or fraudulent acts.
We assist states to:
- Recover stolen public funds, bribes and compensation for corruption from dishonest public officials, their companies, trusts, and associates;
- Make claims for compensation against contractors that have paid bribes to win contracts or gain other advantages (and we advise on the termination or renegotiation of tainted contracts);
- Make claims to recover assets or compensation against third parties which knowingly handle the proceeds of corruption, or assist in the laundering of it;
- Use insolvency remedies to take control of companies used to receive or launder the proceeds of corruption
We have worked internationally on some of the most innovative and successful claims to recover the proceeds of corruption and, in addition to cases in our own jurisdictions, have assisted states to formulate and implement international asset recovery strategies taking into account the complex practical and legal issues that arise in cases involving multiple countries.
We also help companies or individuals that have suffered fraud or theft to recover assets, or to make claims against the principal wrongdoers or those that have assisted them.
This blog will discuss key issues in the field of asset recovery and claims arising from corruption. We hope our blogs are enjoying, interesting and insightful.