News Post on 21 August 2019

Successes in Court of Karine Vilret, Outstanding Business Litigation Lawyer

_Seasoned litigator, Partner Karine Vilret has been involved in high-profile business litigation in Luxembourg. Among them, the Madoff and Leyne Strauss Kahn cases are worth mentioning.

Ranked as leading lawyer in Insurance and Dispute Resolution by international guides such as Legal 500 and Leaders League, Karine heads Wildgen’s Dispute Resolution Practice Group and is a recognised figure in Luxembourg by clients, peers and university academics. Since 2010, the French Embassy in Luxembourg regularly mentions her as a reference lawyer.

> In 2009, she won the first European legal action in connection to Bernard Madoff.

The Financial Times wrote: “A Luxembourg judge has frozen some assets held by UBS for Luxalpha, one of the principal European investment funds that gave money to US money manager Bernard Madoff, said a lawyer in the Grand Duchy on Monday. The move is believed to be the first legal action in Europe connected to the $50bn fraud scheme allegedly operated by Mr Madoff. Separately in New York, a US judge granted Irving Picard, the trustee liquidating Mr Madoff’s business, broad power to subpoena witnesses and documents to aid him in his search for assets, and a second judge ruled Mr Madoff can remain free on bail until his trial. Karine Vilret , lawyer for an unnamed French investor, said the assets of an account held by the UBS subsidiary in Luxembourg on behalf of Luxalpha were frozen by a judge there several days ago.”

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> In 2014, she obtained the conviction of the LSK group, its subsidiary and its main shareholder to pay 2 million euros to her client, the insurance company "Bâloise-Vie Luxembourg", and the confirmation of the judgment by the Luxembourg Court of Appeal in 2019.

Karine acted for Bâloise-Vie Luxembourg in relation with the bankruptcy of the holding company Leyne Strauss Kahn S.A. (LSK) and its financial group – in which was involved Dominique Strauss-Kahn (DSK), a French economist and politician, former French minister and former managing director of the International Monetary Fund (IMF). Luxembourg court had pronounced summary conviction of the LSK group, its subsidiary “Assya” and its major shareholder, Thierry Leyne who were ordered to pay €2 million to the insurance company “Bâloise-Vie Luxembourg”, that had claimed repayment of securities back in July 2014. This decision was confirmed on appeal by a judgment of the Court of Appeal of 22 May 2019 which refused to grant LSK and AAML's retraction requests.

VanityFair wrote: "Karine Vilret, who defends some thirty creditors in the Grand Duchy, also points out that DSK was sentenced in early November by the administrative court of Luxembourg to pay 75,000 euros in tax arrears as a liable party."

Luxembourg Times wrote: "At this stage of the procedure, we expect that Mr Fisch will take a position on the verification of these claims and possibly the creation of a creditors' committee," lawyer for clients with 25 million euros' of receivables Karine Vilret told AFP."

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For all the chances to be on your side, do not hesitate to contact Karine regarding any business dispute.

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