MARC and Carter-Ruck Collaborate on New Initiative to Enforce International Claims
U.S. based MARC LLC, a forward-thinking dispute management and asset-recovery company and London-based specialist disputes law firm Carter-Ruck are collaborating to bring to market a new service to enforce international claims. The partnership was jointly announced today by MARC CEO Franz. J. Sedelmayer and Adam Tudor of Carter-Ruck.
"We are pleased," says Tudor, "to be working together with MARC whenever they manage international disputes and consequently pursue effective enforcement of awards and judgments around the world."
"In today's world a huge number of arbitration awards and court judgments remain unpaid," says Sedelmayer, whose own lawsuit, "Sedelmayer vs. The Russian Federation," has become case law with regard to the issues of sovereign immunity and award enforcement. "In most cases the cost and the time involved in enforcing a claim exceeds the time and cost it took to get the judgement in the first place. Sometimes, claimants fund the effort for decades without ever seeing a cent."
Sedelmayer says the firms' collaboration will provide clients with a less expensive, faster, and more effective way to enforce and collect on world-wide claims. "It's time for a new approach. While most large law firms are well versed in obtaining title to money, enforcement remains an uphill battle."
The reason, Sedelmayer insists, is because of lack of knowhow and an institutional reluctance to retain experts in the field. MARC and Carter-Ruck, utilizing a unique combination of legal expertise, aggressive intelligence, and proven enforcement experience, will bring an asymmetric, results-oriented approach to what has all too often been a 'by the numbers' effort by traditional firms. "MARC," says Sedelmayer, "acts on its clients' behalf as a proxy, which gives us great latitude in how we operate."
"You can't think of enforcement just as a 'case,'" Sedelmayer continues. "Enforcement is about people. I hate to see claimants frustrated by not being paid even though it took them years to win judgements. They usually leave the enforcement to their trusted trial lawyers, who at times and despite the best of intentions simply cannot cope with debtors who are determined not to pay. These days it makes absolutely no difference if you face off against a sovereign state, a commercial entity, or a private debtor. They all know how to defend themselves and hide their assets."
Bottom line? The only thing that counts, Sedelmayer insists, "is results. And results are what we will get for our clients. The bad guys should not win."
For MARC LLC
Franz J. Sedelmayer