New Member – Vasiliki Papaloi joins as the Real Estate Law Expert in Greece

Leaders in Law, the leading platform in its field, is delighted to welcome Vasiliki Papaloi as our exclusively recommended & endorsed Real Estate Law Expert Witness expert in Greece.

Vasiliki Papaloi is a skilled litigator, trial lawyer, and arbiter with experience advising clients, trying cases, and negotiating complex civil and criminal disputes. Ms. Papaloi specializes in civil and criminal cases, also has great experience in bank, commercial and corporate issues. She successfully consults many corporate and individual entities. She is also involved in great number of immigration and golden visa cases.

Ms. Papaloi represents clients in negotiations, all corporate, tax, compliance and others formalities, providing high quality services and protecting clients’ interests. Among her clients are high net worth individuals, foreign governments and their officials and financial institutions.

She takes everything into consideration working to give the best solution to clients and focus on them being legally and financially safe. She involves in complex cases, providing the high quality services and completes all levels of law cases through various methods.

Firm Description:

About us

Papalois & Associates Law Office was founded in 1980 by Periklis Papalois in Athens and has established since then a circle of well-respected Greek and International clientele. The office has a great history and has handled complex cases in every field of law. We are advising individuals, Greek and International Companies, resolving problems and promoting investments in Greece and around the World.  We cooperate with international Law Firms for the best serve of our clients interest. We create strong ties of commitment, trust and effectiveness with our clients, who have been with us for more than 30 years.

Who we are

The Leading Partner Periklis Papalois and his team of lawyers and other experts have been working together hard to provide high- standard legal services to our clients. Our team consists of highly qualified lawyers with specialization in several fields of law, who always deliver the best resolution in complex legal cases. We have advised and represented before the Judicial and Administrative Authorities large and well-known corporations such as Hotel Companies, well –known Companies in the Automotive Industry, Cotton Manufacturing and Marketing Companies, Real Estate and Ship Manufacturing Companies, Film and Television Producers and other leading companies in their domain.
The Office collaborates with international Law Firms,  large offices of engineers, manufacturers, surveyors, certified auditors – accountants – tax consultants, notaries and, in general, experts of various specialties in order to best handle each client’s affairs.

 

New Member – Theodoros N. Spanos joins as the Golden Visa & Residency Services Expert in Greece

Leaders in Law, the leading platform in its field, is delighted to welcome Theodoros N. Spanos as our exclusively recommended & endorsed Golden Visa & Residency Services Expert Witness expert in Greece.

Theodoros N. Spanos is a Partner at the law firm. He advises regularly a political Party at Hellenic Parliament. Theodoros’ practice areas include the following; Administrative Litigation, Immigration & Golden Visa Project, Real Estate, Labour Law, Business Law, Investment Projects & Finance and Banking Law.

Theodoros N. Spanos was admitted at Athens Bar Association and has a Law degree from National & Kapodestrian University of Athens and LLM in Private and Labour Law from National & Kapodestrian University of Athens.

SF Legal Law Firm

SF Legal Law Firm has a great speciality of different domains in which we make great success. It is consisted of every characteristic needed to make new skies.

Our firm has a practice of many decades towards all practice are of law. Our principle goal is to find solutions for all your problems and issues. You do not have to worry, you have to trust us. Consisting of people with a great court and outside court experience gives us the possibility to suggest the solution asked.

Having a great partnership with many professionals in many different domains just gives us the rapidity and success every case really needs. We, finally, work with a very simple rule. Work harder, do the best, find the perfect solution for your client.

Innovative Legal Law and Services

Together we are stonger, more successful. Always acheiving more and going further.

Making the future better for our client.

Trust is only one word. In our firm, it is the key to success.

One of our simple rules towards our clients’ cases id the following : “Your problem, our problem”.

Domaining ways

Domaining means to do things the right way, achieving what can be achieved. Achieving the possible goals does mean that victory is in our side.

Achieving does not mean the path is easy to be walked. But doing it the right way, the mountain can be reached and conquered.

“Limit is the sky. So there is no limit”.

New Member – Bernard E. Clair joins as the Family Law Expert in the USA, New York

Leaders in Law, the leading platform in its field, is delighted to welcome Bernard E. Clair as our exclusively recommended & endorsed International Family Law Expert in the USA, New York.

Bernard E. Clair is widely recognized as one of a handful of elite New York divorce lawyers.

While he is skilled at all facets of client advocacy and representation, his skill as a trial lawyer and his command of the courtroom are what sets him apart. Mr. Clair has a unique ability to communicate and effectively advocate on behalf of his clients in both financial and custodial matters. On account of his courtroom experience, he is a successful negotiator and many of his cases result in favorable settlements without full blown litigation.

Mr. Clair is a fellow of the American Academy of Matrimonial Lawyers. He served for more than a decade as Chairman of the editorial board of the New York Family Law Monthly—published by American Lawyers Media—and has regularly lectured and published to the legal community. In 2009, Mr. Clair was selected for inclusion in the Best Lawyers in America for his work in family law, an honor he has received for the last 14 years. He has also co-authored three books for the lay public involving important matrimonial law issues.

Mr. Clair’s litigation achievements on behalf of his clients have helped shape the matrimonial law in New York. The holdings of his cases have become the standard upon which many subsequent cases are evaluated.

Mr. Clair receives Martindale-Hubbell’s highest ratings for both legal ability and ethical standards and has been recognized as one of the leading divorce lawyers in New York by numerous publications over the years. He has been consistently selected as a “Super Lawyer” by Super Lawyers Magazine and as one of New York’s “Best Lawyers” by New York Magazine. Most recently, Mr. Clair was selected by his peers for inclusion in the 29th Edition of The Best Lawyers in America© 2023, for his work in Family Law. In 2017, Mr. Clair was acknowledged by the New York Post as “the top divorce lawyer in the world.” In 2018, he was named as one of “the top 20 lawyers for divorces” by the Hollywood Reporter in its annual “Trouble Shooters” list. And in the 2021 Chambers Review, Mr. Clair was, among other things, acknowledged to be “a go-to for high net worth clients…” and was awarded top-tier status.

In establishing Cohen Clair Lans Greifer & Simpson LLP, Mr. Clair brings his years of experience in every facet of family law to a setting where the focus remains on efficient, responsive and creative representation, whether it be within the context of complex litigation or sensitive, private negotiations.

Mr. Clair graduated from St. John’s University School of Law in 1976 and attended Adelphi University as an undergraduate where he became an All American in lacrosse. He was selected as Adelphi University’s “Alumnus of the Year” in 2014. He received the prestigious Belson Medal Award for being an outstanding alumnus of St. John’s Law School in 2019. Mr. Clair lives with his wife in New York City.

New Member – Liliana Bakayoko joins as the International Business Law Expert in France

Leaders in Law, the leading platform in its field, is delighted to welcome Liliana Bakayoko as our exclusively recommended & endorsed International Business Law Expert in France.

Liliana Bakayoko is an Attorney at Law at the Paris and Sofia Bars, a Doctor of Law and a former Professor of Law.

She has 20 years of experience as a lawyer and ten years of experience teaching law.

She has been chosen as the International Business Lawyer of the Year in France — 2024 under the Global Law Experts Annual Awards. She has been named Leading International Business Lawyer of the Year — Paris under Acquisition International’s Leading Adviser Awards 2023. Advisory Excellence has endorsed her as France’s exclusively recommended International Business Law expert for 2024.

Her international business law firm provides comprehensive legal services tailored to the needs of its clients operating in a global business environment.

Liliana Bakayoko’s law firm specializes in international trade law, IT law, corporate law, and intellectual property law, and its services in this area encompass:

  • Legal Advisory Services: It provides expert legal advice on a wide range of matters pertinent to international business law, including contract drafting and negotiation, regulatory compliance, risk management, corporate governance, and strategic business planning.
  • Transaction Support: The law firm assists clients in structuring and executing various transactions, such as strategic alliances, joint ventures and corporate reorganizations. It ensures that these transactions are conducted efficiently and in compliance with applicable laws and regulations.
  • International Expansion and Compliance: For clients looking to expand their operations into new markets, the law firm offers guidance on international expansion strategies and compliance with international trade regulations.
  • Intellectual Property Protection: The law firm helps clients safeguard their valuable intellectual assets through trademark registration, patent and copyright protection, trade secret management, and enforcement of intellectual property rights.
  • Dispute Resolution and Litigation: The law firm offers efficient dispute resolution services, including negotiation, mediation, arbitration, and litigation.

Leveraging her profound expertise and unwavering dedication to quality, Liliana Bakayoko collaborates closely with businesses to navigate complex legal landscapes, minimize risks, and realize their strategic goals in the ever-evolving global marketplace.

Awards

  1. International Business Lawyer of the Year in France — 2024 – the Global Law Experts Annual Awards.
  2. Leading International Business Lawyer of the Year — Paris – Acquisition International’s Leading Adviser Awards 2023.

“Liliana Bakayoko: A visionary of international business law and digitalization

Highly qualified in international business law, Liliana Bakayoko has built solid experience as a lawyer, teacher and consultant. Her exemplary career and ability to adapt to the digitalization of the legal sector make her a key figure in this field.” – FORBES.

Yang & Yang Solicitors

Yang & Yang Solicitors LLP welcomes Dennis Yeung as a new Partner

Hong Kong, China – Yang & Yang Solicitors LLP is pleased to announce Mr. Dennis Yeung has joined our firm as a Partner on 1 April 2024. He has more than 20 years of legal experience in a wide variety of practice areas, including mergers & acquisitions, securities and public listings, private equity, regulatory compliance and corporate & commercial matters.  His clients include Chinese and multi-national corporations, fund houses, financial institutions, listing applicants and listed companies. Prior to joining the firm, Dennis was a Representative and Senior Counsel at Akin Gump Strauss Hauer & Feld in Beijing.

Dennis will bring a wealth of experience to our firm. At the same time, he will work closely with our strategic partner, East & Concord Partners, to further develop legal practices with clients in Mainland China.

For more information, please contact:

Mona Cheung

Yang & Yang Solicitors LLP

+852 3797 8242

monacheung@east-concord.com.hk

yyc-ec.com

Spencer West Expands Horizons with Launch of Bahamas Office led by K. Kelly Nottage

Spencer West, the innovative international revenue-share law firm, proudly announces the opening of its latest office in The Bahamas, solidifying its global footprint. The Bahamas office will be spearheaded by esteemed Barrister-at-law, Kelly Nottage, as the founding Partner. 

Kelly brings a wealth of experience and expertise to Spencer West Bahamas. Before joining the firm, Kelly established Sovereign Advisors Bahamas, a boutique legal practice specialising in private client and corporate work having previously held roles as Senior Trust Officer, Trust Manager, and head of the LATAM Fiduciary Desk at Ansbacher (Bahamas) Limited, a renowned trust company in The Bahamas. 

With extensive experience in structuring and administering trusts, foundations, funds, and fiduciary products, Kelly is well-versed in financial and corporate services law. He advises Family Offices, Trustees, Beneficiaries, Broker Dealers, Property Developers, and Digital Asset Enterprises on a wide range of matters, including structuring, licensing, tax, and operational substance within The Bahamas. 

By joining Spencer West, we aim to offer our clients advice and solutions that cater to the increasingly multi-jurisdictional activities of our clientele,” stated Kelly. “We anticipate collaborating with Spencer West Partners across the globe, particularly in the world’s financial hubs, to create a robust network of services and legal advice.

Spencer West is pioneering legal innovation in The Bahamas with its unique model. As the only firm globally with offices in the world’s top financial centres, including the Cayman Islands, BVI, Channel Islands, Switzerland, London, New York, and Dubai, Spencer West Bahamas offers a global reach combined with local expertise. 

Our priorities for Spencer West Bahamas are clear,” stated Kelly. “We aim to establish a premier Private Client practice rooted in excellence and capable of global reach. This includes attracting top talent within the jurisdiction, raising awareness of our services locally and globally, and leveraging our network to deliver optimal solutions for our clients. 

The Bahamas, a former British colony, achieved independence in 1973 and maintains membership in the British Commonwealth and CARICOM. The legal system, based on British common law, includes Magistrates Courts, Supreme Courts, and Courts of Appeal, with the Privy Council in the UK serving as the final court of appeal. 

The Bahamas shines as a leading jurisdiction for private banking, trusts, funds, and asset structuring. A low-tax environment with no personal income tax and limited corporate taxes, The Bahamas attracts families and businesses seeking residency and financial services in a politically stable and legally predictable setting. 

Expanding into The Bahamas represents an exciting opportunity for Spencer West as we continue to enhance our robust Private Wealth offering,” explained Antoine West, Managing Partner at Spencer West. “By establishing a presence in this prestigious jurisdiction, we are extending our network of top-tier lawyers, creating a seamless community to serve our clients with tailored legal solutions. The Bahamas’ reputation as a leading hub for private banking, trusts, and asset structuring aligns perfectly with our mission to provide unparalleled expertise and global reach in the realm of Private Wealth. We look forward to leveraging this strategic move to further solidify our position as pioneers in legal innovation, offering our clients exceptional service with an expanded global perspective.

Spencer West Bahamas looks forward to serving clients in The Bahamas and beyond, offering tailored legal solutions with a global perspective. 

 

Leaders in Law News

Financial Disclosure in High Net Worth Divorces

Divorce is fraught with emotional and legal intricacies, and when the parties involved possess substantial wealth, the process becomes even more complex. High net worth individuals navigating the world of divorce law face a unique set of challenges, from identifying and assessing assets to ensuring that financial disclosures are comprehensive and accurate. This blog post will canvass some of the financial disclosure issues in high net worth divorces.

Other Resources at our website and blog

Financial Disclosure has long been one of my ‘pet issues’.  I delivered a webinar on the topic in 2020.  You can watch the entire show (1.5 hours) and/or you can have a look through my talking notes.

There are other useful resources re financial disclosure that are applicable to high net worth situations.  Here are some of those resources (each one of them is a quick read):

Timely Financial Disclosure Is Essential

Spousal Support (Alimony): What Ontario High-Income Earning Fathers Need to Know

High Asset Divorce And Separations

Six assets that can complicate valuation issues in equalization of net family property (Ontario)

Asset valuation mistakes to avoid in a divorce

Assets that may be excluded from equalization calculations

Divorce & Ontario Property Division

High-Net-Worth Divorce Court Litigation Versus Private Med-Arb: Which Is Right For You?

Ontario asset valuation, division, equalization (or how I got used to Ontario property law and learned to love it, LOL)

The Crucial Importance of Financial Disclosure

In high net worth divorces, financial disclosure is a fundamental aspect of the legal process. It requires both parties to provide full and accurate information about their personal finances, most notably when the division of assets is at stake. A transparent and comprehensive financial disclosure not only enables each party to make informed decisions but also ensures that the divorce settlement fulfills the legal requirements of fairness and equity.

You are required to disclose all assets and liabilities as at three dates: marriage, separation, current.  Keep in mind that in Ontario, we equalize the wealth accumulated during the marriage; therefore, we take a snapshot at marriage date and then at separation date.

The Ontario Difference

Ontario’s Family Law Act stipulates that each spouse must provide full financial disclosure within 30 days of a request for information from the other party. However, the law doesn’t end there; the province’s courts also require ongoing and updated financial disclosure, emphasizing the goal of a “live” information exchange throughout the litigation process.  And now in Ontario the courts as a matter of standard procedure issue a Mandatory Disclosure Order when an Application is issued.  Failure to disclose can, off the bat, be subject to a noncompliance motion and that’s serious business.  You cannot sit around complacently and just wait for the other side to ask; the onus is upon you to fess up from the get go.

Understanding Financial Disclosure

In the context of divorce, financial disclosure refers to the obligation of each party to provide complete and honest details about their monetary circumstances. This includes any financial changes that have occurred between separation and the finalization of the divorce.

The Purpose and Process

The primary purpose of financial disclosure is to allow both parties and the court to understand the financial reality of the family unit. This is key to reaching a fair settlement and ensuring that all assets, debts, and incomes are accounted for.

Ontario law mandates that financial disclosure be made via the Financial Statement form or another satisfactory document. This document demands all details that are or may become relevant to the financial claims being made in the divorce.

Key Financial Documents to Share

For high net worth individuals, the scope of financial documentation that needs to be shared can be vast. Here are some of the most critical categories:

Income Statements – Current and historical records of all sources of income are vital. This includes employment salaries, bonuses, and benefits, as well as investment returns and rental income.

Tax Returns – Providing personal and corporate tax returns in full is necessary to ensure all income and assets are accurately reported.

Bank Statements – Presenting several years of bank statements is essential to trace the flow of funds and identify undisclosed assets or income.

Investment Portfolios – Clearing displaying all investment holdings and transactions is important to value and potentially divide these assets in a divorce settlement.

Real Estate Holdings – Detailing all real properties, with evidence of valuations, mortgages, and other encumbrances, is crucial in property division discussions.

Business Interests – For high net worth individuals who own or have an interest in businesses, presenting financial statements, tax returns, and business valuations is a non-negotiable.

We are often asked if offshore assets and liabilities need to be disclosed.  The very short answer is “yes”.

Complexities in High Net Worth Divorces

High asset divorces often come with unique complexities that don’t readily exist in typical divorce cases.

Hidden Assets and Income – Cases involving high net worth often see allegations—and sometimes substantiation—of hidden assets or income. To evade equitable division, some individuals may attempt to siphon funds into offshore accounts, cryptocurrency, or other complex financial instruments. In Ontario, the penalties for failing to disclose such assets are severe.

Valuation of Assets – For those with diverse investment portfolios and business interests, accurately valuing these assets is not always straightforward. Appraisals, expert opinions, and the court’s discretion often come into play.

Tracing Assets – In situations where the date of separation is in dispute, accurately tracing the increase or decrease in the value of certain assets can be a significant challenge.

Consequences of Non-disclosure

The ramifications for failing to provide full and truthful financial disclosure are serious. Here are some potential consequences:

Legal Repercussions – In Ontario, the discovery of undisclosed income or assets can lead to court orders that are less favorable to the non-disclosing party, including higher spousal support payments, unequal division of net family property, or having to pay a larger portion of legal fees.

Impact on Settlement Negotiations – If one party is found to have not disclosed financial information, it can lead to the breakdown of negotiations and a more adversarial approach to the divorce.

Potential for Increased Legal Fees – Non-compliance with disclosure requirements can lead to an increase in the cost of the divorce. Legal battles over non-disclosure can escalate quickly, leading to higher legal fees.

Conclusion

In the realm of high net worth divorce, no financial stone should be left unturned. Transparency and compliance with financial disclosure requirements are not merely legal duties; they are the cornerstones of a fair and equitable divorce settlement. If you’re navigating the divorce process and possess substantial wealth, it’s crucial to seek the advice of a knowledgeable and experienced Ontario divorce lawyer.

For guidance through your high net worth divorce, consider the Gene C. Colman Family Law Centre. Our team of family law professionals brings a wealth of experience in navigating the complexities of high asset divorces within the Ontario legal system. Contact us today for personalized support tailored to your unique situation.

Remember, in the realm of high net worth divorces, knowledge is power—and full financial disclosure is key.

(This post has focused on married couples.  Common law couples in Ontario have their own set of challenges and some separate and challenging legal principles to face.)

Antonio G. Lobón joins as the International Tax Law Expert in Spain

Leaders in Law, the leading platform in its field, is delighted to welcome Antonio G. Lobón as our exclusively recommended & endorsed International Tax Law Expert in Spain.

Antonio G. Lobón has a Degree in Law from Complutense University of Madrid, a Master’s Degree in Tax Law from the University of Deusto, Bilbao and Spanish CPA and is trained in the Prevention of Money Laundering and Terrorist Financing. He is member of Madrid Bar Association and the Spanish Institute of Chartered Accountants.

After 36 years of experience with KPMG, he retired in October 2014 since he reached the statutory retirement age. He started his career at KPMG in Madrid in 1978, became partner in 1987 and moved in 1999 to New York office where, amongst other responsibilities, he was the Partner-in-charge of Latin-American Legal Services, served Global Accounts in Latin-America and leaded the Spanish and Portuguese Centers of Excellence in that Office.

He specializes in European Union Tax Legislation as well as International Taxation, restructuring, cross border transactions, due diligence and M&A, in different sectors. Some of the sectors that he has rendered services to are: Banking & Financial services, including Funds and Alternative Investments industries, Oil & Gas, Car Manufacturing, Food & Beverages, Hotel Chains, Communications; Cement & Construction, Airlines and related services.

Firm Description:

Larrauri & Marti Abogados is a Law Firm with more than 37 professionals, specializing in different law fields that cover all Company law areas.

We form multidisciplinary teams to study the issues from all legal perspectives required by the client. These teams always include one of our partners who gets directly involved with each case we handle.  This represents the main difference in how we provide our services.

At the present time, our firm has offices in Madrid, Bilbao and Malaga. We are also a member of an international alliance of cooperating firms throughout 16 countries, which allows us to provide our clients the legal support that they need in side and outside Spain.

History

The firm Laurrauri & Marti ABOGADOS began in January 2009 from the fusion of two heavy weights from the Spanish legal profession, Josu Larrauri and Jose Marti.   Together they add up to more than 46 years of experience within the business.

The purpose of such union has been to create a firm capable of offering complete and quality service to our clients.

Our system is based on four basic pillars: direct communication with our partners, adaptation to our clients’ needs, search for efficient solutions and rendering of quick and high-quality legal services.

Leaders in Law News

Yang & Yang Solicitors LLP welcomes Rossana Chu as a new partner

We are excited to announce Miss Rossana Chu has joined Yang & Yang Solicitors LLP as a partner on 23 January 2024. Rossana has more than 26 years of legal experience with deep knowledge and skills. She is best known for her expertise in M&As including takeovers and privatisations of Hong Kong listed companies, capital markets, corporate financing, asset management, corporate restructuring, private equity/venture investments, trusts and family offices, ESG and sustainability, technology law as well as employment legal issues. She advises multi-national and Chinese corporations, securities firms, investment banks, funds, non-profit making organisations, families and individuals in respect of their domestic and overseas legal matters.

Rossana has been profiled as a leading individual in Chambers, Legal 500 Asia Pacific, IFLR1000, asialaw, China Business Law Journal, Global Law Experts, Leaders in Law, Legal Media 360 and In-House Community. She was named as the “Lexology Legal Influencer (Individual Expert)” in Q1 and Q2 of 2021 and Q1 of 2022.

Rossana is a co-founder of the Association of Retired Elderly Limited, a non-profit-making organisation with a focus on improving the welfare of the elderly in Hong Kong. She is also an affiliate member of the Association of Chartered Certified Accountants of the United Kingdom.

Rossana’s joining solidify the legal team and enhance our competitive advantages in different practice areas.

About Yang & Yang Solicitors LLP

Yang & Yang Solicitors LLP is a Hong Kong law firm dedicated to providing comprehensive and efficient legal services to clients. With rich experience, extensive professional knowledge, and licenses in multiple jurisdictions including Hong Kong, USA, Canada and England & Wales, the lawyers of Yang & Yang Solicitors LLP has established a global vision and is equipped to provide comprehensive and quality legal services.

Yang & Yang Solicitors LLP is currently in the process of forming an association with East & Concord Partners (pending application to the Law Society of Hong Kong and subsequent approval). The association will enable Yang & Yang Solicitors LLP to provide clients with services in Mainland China especially in the Greater Bay Area and help clients handle complex cross-border matters.