An insurance company was seeking assets that could act as security for a claim resulting from the total loss of a vessel.
How we solved it:
LSR identified Panamanian registered companies linked to the owner of the lost vessel. Despite these companies rapidly and continuously changing their corporate structure we were able to work closely with lawyers to identify evidence of the same continuous beneficial control over the period.
An associated vessel was ultimately arrested on the basis of it being owned by an Alter Ego of the target, with the ensuing commercial settlement entirely in our client’s favour. This is now a test case for Alter Ego claims in the USA.
LSR’s unique, documented, client-communication process ensured that individual pieces of information were regularly matched with our client’s developing case to achieve a ground-breaking result of legal significance.