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Miami’s newly rebranded Sequor Law is the Chilean liquidator of bankrupt investment vehicle Onix Capital

History of the practice

Shareholders Edward Davis and Gregory Grossman launched boutique Sequor Law in April, in what was effectively a rebrand of Miami firm Astigarraga Davis’ cross-border insolvency, international asset recovery and financial fraud team.

Davis and Grossman, two of the founders of Astigarraga Davis, decided to establish the new outfit when their former firm’s international arbitration practice left to join global law firm Reed Smith.

All of the attorneys from Astigarraga Davis’ cross-border insolvency, international asset recovery, and financial fraud practice were retained by Sequor Law.

Network

Grossman heads up the firm’s international insolvency and financial litigation practice, which operates out of a solitary office in Miami.

Who uses it?

The team represents international banks, sovereign governments and government institutions, liquidators and receivers, lenders and multinational corporations, as well as individuals.

Some notable clients include Big Four professional services firm PricewaterhouseCoopers and the Republic of Trinidad and Tobago.

Historic track record

The practice, under Astigarraga Davis and Sequor Law, has made over 20 Chapter 15 filings in the US to recognise insolvency proceedings in diverse jurisdictions including Antigua, Austria, Barbados, Brazil, the BVI, the Cayman Islands, Chile, Mexico, Romania and the UK. Indeed, Grossman says the firm has filed more Chapter 15s than any other law firm in the US.

Notably, Davis and Grossman filed the first Chapter 15 bankruptcy petition in the state of Florida, on behalf of PricewaterhouseCoopers as the custodian of failed financial institution Bancafe International Barbados.

Davis also served as lead civil counsel for the government of Antigua and Barbuda in relation to an alleged fraud in the payment of debt owed to a Japanese leader that sponsored the building of the Crabbs Desalination and Power Plant in northeast Antigua.

Elsewhere, the team was instructed to represent the joint liquidators of Stanford International Bank in efforts to recover assets relating to a US $7 billion Ponzi scheme- the second largest Ponzi scheme in world history, which has seen filings in Antigua, the UK, the US and Canada.

Recent events

During our research period, Sequor Law was instructed as counsel to the court-appointed liquidator and foreign representative of bankrupt Chilean investment firm Onix Capital in Chapter 15 proceedings in Florida. The liquidator is seeking to recover assets in excess of $100 million* relating to an alleged Ponzi scheme operated by the group’s CEO, Chilean businessman Alberto Chang-Rajii.

The Sequor team also continues to act as primary US counsel to the joint liquidators of Stanford International Bank.

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* The GRR 100 incorrectly values the Onix case as a $7.4 million dollar Ponzi scheme. The correct value of the Ponzi scheme is in excess of $100 million.