Legal Floris LLC limits its services to fund recovery in bank failures and investment fraud. This specialization allows us to develop working multi-step recovery models tailored towards the specific needs of our customers.
Our aim is to assist bank depositors and investors to get their deposit or investment returned in an orderly manner. Often times, bank failures and defaulting investment programs are triggered by liquidity shortfalls. Even when financial institutions claim to have sufficient loss absorption capital, this does not mean that liquidity is available to repay customers. It is inevitable that open resolution triggers a run on the bank or investment program and enables those with sly thoughts to reclaim deposits that they might not be approved for.
Unsecured assets and loan portfolios potentially default after a resolution. This means that liquidity is decreased by the potential write off of asset portfolios such as bundled non-performing loans. This is just one of the few consequences of a resolution we deal with on a daily basis. It also means that we need to be creative within the parameters of the national insolvency laws, European directives, and international law, to ensure maximum recovery for our clients. Such a situation justifies a holistic approach to fund recovery.
Within our main areas of expertise, Legal Floris LLC offers the following services:
- Fund recovery services
- Fraud investigation and asset tracing
- Class action lawsuits
- Short selling
- Bank recovery services:
Financial institutions focussed on non-resident depositors and corporate offshore clients expose themselves to substantial money laundering risks. Regulatory fines do not always justify the magnitude of a scandal. During recent years, several financial institutions were forced into liquidation. Legal Floris LLC assist legitimate clients of such banks to recover their funds. Over the years our client portfolio accumulated to over 2.000 customers, in bank failures in Cyprus, Tanzania, Latvia, Estonia, The Netherlands, Belgium, Luxembourg, and Bermuda. Our customer claims in recent bank failures exceed 500 Million Euro. In addition, our customers invested over 200 Million Euro in obscure investment programs, before appointing Legal Floris LLC as their advisor. Participations we aim to recover for them.
- Bank account limitations and obstructions:
The hazards of non-resident deposits in bank accounts have been downplayed for years. Regulators force domestic financial institutions to improve their risk management and limit exposure to illicit, opaque and suspicious transactions and, unknown beneficial owners. As a result, international bank customers are subject to the scrutiny of customer profiles and transactions, and sometimes see their bank account canceled. Cancellation of a corporate bank account is a precarious process potentially leading to investigations, fines, and penalties in the home country of the beneficiary. Legal Floris LLC assists corporate customers to legitimately recover the funds from the canceled bank account and ensures that challenges with local and international tax authorities are avoided while addressing the CRS/FATCA information exchange protocols.
- Leveraged Buy-Out as debt recovery solution:
The last resort for our customer to receive payments of outstanding invoices was by offering the opponent a Leveraged Buy-Out of the shares in the company. A higher return as initially expected was achieved by the client. The model was perfected and lays the foundation for future ADR and settlement procedures.
- DSB Bank, bank failure, and bankruptcy:
Tampering with high premiums on term life insurance, overpriced mortgages and deferred annuities, and after the bank run initiated by Pieter Lakeman, DSB bank failed and had to file for bankruptcy in 2009. Until now many of the depositors of the bank recovered a substantial part of their assets. As often in bank failures, funds become available in tranches. Till the end, we stand by our clients to assist them to receive a full recovery and total compensation.
- Interest swap claims:
Corporate customers of Rabobank, ING and ABN AMRO were offered an exotic insurance product to protect themselves against the risk of increasing interest rates. Periodic premiums to cover the risk were fluctuating. Banks are negligent in their information towards customers who purchased these interest swaps. Together with the LIBOR rumblings, our customers have a strong case against the banks involved.
- Offset as a fund recovery mechanism:
Efforts to maximize customer payout in bank failures and investment fraud include alternative dispute resolution and other out of court settlements. After approval of the involved central banks, liquidators and when required the court, we offset assets belonging to the debtor and assign these to our clients.