Our Asset Tracing & Recoveries practice area is a recognised leader in advising both contentious and noncontentious complex tracing and recovery of assets and in restructuring & insolvencies. The practice area is led by a team of Partners with specialist know-how and deep experience in offering strategies for obtaining effective and time-critical legal remedies to secure and recover assets, including freezing injunctions, disclosure orders and protection of assets. 

With a good reputation in handling complex banking disputes debt recovery and asset tracing, the practice area has represented clients in various courts in the land including the High Court, Court of Appeal and the Supreme Court. Our Asset Tracing & Recoveries practice closely with a broad range of stakeholders including banks, financial intermediaries, distressed companies, creditors, private equity sponsors, and governments. As a full service law firm, the practice area is able to call upon lawyers from a wide range of related specialist areas including tax, employment and labour, banking & finance and restructuring & insolvency.


Experience

Our recent experience includes:

  • Acting for the Central Bank of Kenya in the recovery of funds in the “Goldenberg” related cases, in excess of USD 1 billion.
  • Representing Kenya Deposit Insurance Corporation (the receiver manager for Chase Bank) as lead counsel. We also obtained a mareva injunction/freezing order, which is currently in force to preserve the subject matter of the suit. This is a recovery action as well as the tracing and recovery of assets worth USD 70 million from individuals and companies alleged to have defrauded Chase Bank Limited (Chase Bank (a mid-sized Kenyan bank)), leading up to its receivership.
  • Representing Imperial Bank Kenya Limited (Under Receivership) in a claim that seeks the tracing and recovery of approximately USD 340 million which was defalcated from a Bank. We obtained a mareva injunction/freezing order, which is currently in force to preserve the subject matter of the suit. We also successfully defended the client against a claim by the shareholders seeking to be enjoined in this suit despite stiff opposition.
  • Representing a leading regional bank in a claim of USD 52 million arising from a facility of USD 300 million advanced to the defendants to fund the construction of the Nairobi – Mombasa oil pipeline. We obtained a mareva injunction/freezing order, which is currently in force to preserve the subject matter of the suit and secured an admission of liability for USD 25 million from the defendants with the balance being referred to an independent exert for determination.
  • Representing an accused person for actions done while executing duties when acting as a senior official in the Government of Kenya. The accused was charged with abuse of office and conspiring to defraud the GoK. The saga has come to be known as the Anglo-leasing saga. The matter is worth USD 33 million.

Recent Insights

Step lightly: Matters to consider during M&A deals in Kenya

Tidy endings: Kenya’s new Insolvency Act, 2015 commences as UK logistics firm exits the Kenyan market


Related Services

Banking & Finance, Corporate & Commercial, Dispute Resolution

For more information about our Asset Tracing & Recoveries practice, please contact George Oraro SC (Senior Partner) or Noella Lubano (Partner).  Alternatively, click here to download our Asset Tracing & Recoveries.

Key Contacts
George Oraro SC
Senior Partner

 

 

E: goraro@oraro.co.ke