2nd Annual

Business Information In A Global Context

Fraud, Asset Tracing & Recovery in the Gulf

Legal Developments, Innovative Tactics and Successful Strategies for Civil Fraud Professionals 22 nd – 24 th January 2012 | Al Murooj Rotana Dubai Hotel, United Arab Emirates Hear from the Experts:

The Hottest Issues in the Gulf Region:

3 Verulam Buildings

• The impact of the Arab Spring: Who will recover Libya’s assets?

Al-Suwaidi & Company

• How cases such as Ridley, Cornelius, Fitzwilliam have changed the fraud landscape

Al Tamimi & Company

• Pushing the limits of current methods used to obtain evidence in fraud investigations

Bär & Karrer

• How non-conviction based asset confiscation procedures act as a barrier to asset recovery

Brown Rudnick

• Working collaboratively with investigators, investigative magistrates, prosecutors and Judges to achieve cross-border success

Chambers of Andrew Mitchell

• The fall-out from Ahmad Hamad Algosaibi & Brothers Co and the future impact on Saudi Arabria

Clifford Chance DIFC Courts

• Overcoming the barriers to recovering assets from Egypt and Tunisia

Ernst & Young

• Going beyond the recovery of a bribe to achieve more for your client

Habib Al Mulla & Company Hadef & Partners Herbert Smith

Keynote Judicial Addresses:

High Court of England and Wales

Mark Beer Registrar, DIFC Courts

KBH Kaanuun

Mr Justice Peter Smith High Court of England & Wales

Outer Temple Chambers Peters & Peters

Stephenson Harwood

In-depth post-conference workshop on Conducting Fraud Investigations in the Gulf Region

The World Bank

See inside for further details

Schifferli Vafadar Sivilotti Simmons & Simmons Middle East LLP

Up to 13.0

CPD

Attend our Welcome Reception and Delegate Dinner 22nd January 2012 Networking Drinks Reception Hosted by:

Associate Sponsor:

Welcome Reception & Delegate Dinner Co-Hosted By:

Networking Luncheon Hosted by:

To register call +44 (0) 20 7878 6888 or register online at www.C5-Online.com/FraudGulf

Despite continued uncertainty in the global economy, the Gulf States are rebuilding business practices and establishing a solid foundation to encourage growth in the region. However, fraudulent activity is still being discovered and major international cases are unearthing the proceeds of crime, hidden in increasingly complex locations and structures and practitioners from all corners of the globe are being instructed by clients, to gather the evidence, trace and recover the assets. The complexity associated with tracing assets in the Gulf region, coupled with the uncertainty in legal systems and difficulties in enforcement of foreign awards, means you and your team need to be fully updated on the legal developments, tactics and strategies to achieve results for your clients. Local and international knowledge is often shared, to achieve the best results in an increasingly demanding practice area.

Fraud, Asset Tracing and Recovery opportunities are increasing in the Gulf region – Ensure you have the expertise and contacts in the area needed to capitalise You requested it in 2011’s conference feedback and for 2012 we have delivered: • Leading experts from the United Arab Emirates, Saudi Arabia, United Kingdom, United States and continental Europe give you the inside track on working the Gulf region • High profile panel discussions: including Assessing the Impact of the Arab Spring on Fraud Litigation in the Gulf • Case studies: Ahmad Hamad Algosaibi & Brothers Co – how one of the largest recent cases is sending shockwaves through the region • The hottest topics: including “Barriers to Recovering Assets from Egypt and Tunisia” • Unique networking opportunities: join your peers at our pre-conference welcome dinner and at the drinks reception! Building on C5’s unrivalled reputation in Civil Fraud events, Fraud, Asset Tracing and Recovery in the Gulf brings together the leading lawyers, forensic accountants and regulatory experts to share their experiences and make lasting business relationships in this exciting region. In addition to extensive coverage of how the key legal challenges can be addressed, our expert faculty will provide you with examples of solutions and strategies that will help you build your plan for fraud litigation, monitor increased fraud activity and maximise the array of potential opportunities available in this challenging region. Complete your experience - Don’t miss our expert-led – post conference workshop on Conducting Fraud Investigations in the Gulf Region. No other series of Fraud conferences are so detailed or well respected within the industry. “Those of us who have been involved in C5’s Fraud and Asset Tracing Conference for many years regard it as the key event for fraud practitioners - and essential for key players in this hugely vibrant and challenging discipline.” Keith Oliver, Senior Partner, Peters & Peters - London Book now to avoid disappointment 1. ONLINE at www.C5-Online.com/FraudGulf 2. PHONE our registration hotline on +44 (0)20 7878 6888 3. FAX your details directly to +44 (0)20 7878 6896 4. EMAIL your details directly to [email protected]

Who Should Attend? • Solicitors and barristers specialising in fraud, banking litigation and insolvency litigation • Forensic accountants and litigation support accountants • In-house lawyers, risk analysts and heads of financial crime from: - banks and other financial institutions - public enforcement bodies - insurers - corporates • Private investigators and other recovery specialists

Media Partners:

Global Sponsorship Opportunities C5 Group, works closely with sponsors to create the perfect business development solution catered exclusively to the needs of any practice group, business line or corporation. With over 500 conferences held in Europe, Russia and the CIS, China, India, the US and Canada, C5, ACI and CI provide a diverse portfolio of first-class events tailored to the senior level executive. For more information about this program or our global portfolio, please contact: Jonathan Price on +44 (0)20 7878 6907 or email [email protected]

Welcome Reception and Delegate Dinner - 22nd January 2012 18.30

Conference Registration and Welcome Drinks

19.30

Delegate Dinner Co-Hosted By:

9.15

Keynote Address: A View from the DIFC Courts Mark Beer, Registrar, DIFC Courts

9.45

Assessing the Impact of the Arab Spring on Fraud Litigation in the Gulf Moderator: Richard Briggs, Partner, Hadef & Partners Panellists: Kaashif Basit, Partner, KBH Kaanuun Hassan Arab, Head of Dispute Resolution, Al Tamimi & Company • To what extent is business culture changing or evolving in light of the Arab Spring? • How have levels of fraudulent activity in the Gulf region developed? o is money being redirected into new jurisdictions? o are the types of fraud changing? • Do attempts to rebuild legitimate business in the Gulf mean we are seeing the end of an asset hiding hotspot? o have cases such as Ridley, Cornelius, Fitzwilliam changed the landscape? • How can lawyers based outside the region work in collaboration with local lawyers to achieve results? • How can a culture of consensus be achieved to avoid disputes? • How State intervention in forfeiting assets affects the ability of office holders to recover o does State intervention prevent the true victim from recovering? • To what extent can you use public remedies to your client’s benefit? o attaching to a criminal claim to seek civil damages o how does this process differ in various jurisdictions? o ensuring you position your clients claim sufficiently early o obtaining information from internal or regulatory investigations

11.00

Morning Refreshments

11.30

The Impact of Ahmad Hamad Algosaibi & Brothers Co. on the Gulf Region Sue Millar, Partner, Stephenson Harwood David Simpson, Barrister, 3 Verulam Buildings • Background o massive over-extension of credit to TME facilitated through forgery of signatures. o involvement of various subsidiaries including ATS and TIBC o wide range of banking relationships: Murabaha, conventional lending, FX, guarantees • Corporate Governance failures

12.00

o inadequate oversight by TME’s directors o inadequate internal accounting o inadequate external audits o inadequate corporate structure • Regulatory failures • Lessons for banks o need for proper verification of signatures o dangers of name-lending o dangers of failing to understand Islamic financial structures (and therefore permitting unnecessary complexity and opacity to develop) • Lessons for litigators o difficulties obtaining documents/information from entities in GCC countries o expense of translation o difficulties enforcing judgments in KSA

The Algosaibi-Al Sanea Dispute: An Alternative Perspective Eric L. Lewis, Partner, Lewis Baach PLLC • Vulnerability to Fraud in the Middle East. • Failures of Financial Institutions to Serve as Gatekeepers for Fraud Prevention • The Importance of Enforcing Compliance Within Financial Institutions for Fraud and Money Laundering Prevention • Governance within Middle Eastern Businesses Will Evolve Slowly; Financial Institutions Must Understand the Business Climate and Work Within Its Parameters • Treat Them Like Normal Commercial Customers, But Don’t Blame Family Businesses for Being Family Businesses • Don’t Blame the Victims • Some Alternative Lessons for Banks • Some Alternative Lessons for Litigators

12.30

The Fairfield Funds Story

Chair’s Opening Remarks Richard Briggs, Partner, Hadef & Partners

Panel Discussion

9.00

Cas e S t ud y

Main Conference Day One – 23rd January 2011

Madoff Case-Study: Developing US Remedies for Failed Offshore Funds to Assist in Asset Recovery David Molton, Partner, Brown Rudnick • Developing trends in Chapter 15 recognition by the United States courts of the foreign proceedings of offshore funds • Relief available upon recognition: dealing with competing claims for recoveries and information discovery • Pursuing foreign avoidance claims in the United States using Chapter 15 and the Model Code • Using US Bankruptcy avoidance remedies for asset recovery: opportunities and limitations • Coordination and cooperation between US courts and the foreign proceeding re distribution and other issues

13.00

Luncheon Hosted by

14.00

Overcoming Legal Barriers to Asset Recovery: Difficulties in Cross-Border Recognition of Judgments and Enforcing Awards in Gulf States Graham Lovett, Partner, Clifford Chance Adrian Cole, Partner, Simmons & Simmons Middle East LLP Mark Rainsford QC, Chambers of Andrew Mitchell 33 Chancery Lane, London

To register call +44 (0) 20 7878 6888 or register online at www.C5-Online.com/FraudGulf

• Identifying the main barriers to asset recovery o onerous requirements to the provision of mutual legal assistance o excessive banking secrecy o lack of non-conviction based asset confiscation procedures o overly burdensome procedural and evidentiary laws o the need to disclose information to asset holders during investigations • Predicting how best to seek to enforce worldwide judgments in Gulf states • Is the length of proceedings in Gulf states causing a problem in getting a result? o overcoming delays in executing a freezing or seizing request • When do I need local judicial assistance? o how does this vary? • How quick and effective can the Court systems be? Breaking open offshore trust structures o settlor’s reserved powers o insolvency and asset protection o proof of sham and judgment recognition o seizure in rem or in personam? o access to seized assets

Chair’s Closing Remarks and End of Day One

17.50

Networking Drinks Reception Hosted by

Main Conference Day Two – 24th January 2012 9.00

Chair’s Opening Remarks Keith Oliver, Senior Partner, Peters & Peters

9.05

Keynote Address: Mr Justice Peter Smith, High Court of England & Wales

9.30

Mutual Legal Assistance, Cooperation and Collaboration: Steps to Succeed in Asset Recovery Moderator: Keith Oliver, Senior Partner, Peters & Peters Panellists: Neil Micklethwaite, Partner, Brown Rudnick Mazen Boustany, Head of Banking & Finance, Habib Al Mulla & Company Pierre Schifferli, Partner, Schifferli Vafadar Sivilotti

Dealing with Fraud Under the Common Law and Shariah Systems: A Comparative View Ali Almihdar, Barrister, Outer Temple Chambers • The anti-fraud provisions in two Kingdoms – the United Kingdom and the Kingdom of Saudi Arabia • The main features of the Laws in the two jurisdictions that address money-laundering, insider dealing and commercial frauds • The far reach of some of these provisions which cover not only the actual perpetrators but also a host of others that fail in duties imposed in order to prevent the violations in question • The range of preventive measures that are deployed • Provisions for international cooperation in combatting fraudulent activity • Human rights protections • Enforcement – Recent Case History

15.45

Afternoon Refreshments

16.05

Forensic Techniques Used in Detecting and Investigating Fraud and Tacing Assets in the Gulf Michael Adlem, Partner - Fraud Investigations & Dispute Services - Middle East & North Africa (FIDS MENA), Ernst & Young • Identifying and preserving evidence o Hard copy o Electronic data • Sources of evidence • Recovering electronic data • Identifying assets • Use of publically available information • Using data analytics to detect fraud

16.50

17.35

The Latest Fraud Cases in the Dubai Commercial Courts and their Wider Impact Khalid Al Hamrani, Partner, Al Tamimi & Company Saverio Lembo, Partner, Bär & Karrer • Why is anti-corruption legislation important to business enterprises in the UAE today? • Applicable anti-corruption legislation. • What types of activities are considered as being corrupt under the applicable legislation? • Scope of anti-corruption provisions under the applicable legislation. To whom do they apply?

Panel Discussion

15.00

• What types of penalties apply? • Additional considerations • Practical Case Studies

10.45

• Building a culture of trust and communication among practitioners • Working collaboratively with o investigators o investigative magistrates o prosecutors o judges • What legislation exists to allow for the spontaneous sharing of information with another jurisdiction? o use of liaison magistrates and financial intelligence units • Cross-border enforcement of security regulations • Mutual recognition schemes • Multi-jurisdictional investigations in cases of corruption • Alternatives to letters of request and the increased use by governments of unilateral measures to obtain evidence

Beyond Recovery of the Bribe - A Growth Area? Stuart Paterson, Partner, Herbert Smith • • • • • •

Getting the costs of the investigation back Lost tenders Damages to reputation Using evidence taken in criminal proceedings Attribution issues Wasted expenditure claims

11.30

Morning Refreshments

11.45

Barriers to Recovering Assets from Egypt and Tunisia Kevin Stephenson, Senior Financial Sector Specialist - Law Enforcement, The World Bank • Adopting policies and operational procedures to cultivate mutual trust and improve communication o building trusting relationships

Fax order form to +44 (0) 20 7878 6896 or register online at www.C5-Online.com/FraudGulf

• Avoiding “Fishing Expeditions” o international cooperation is hindered by insufficient information about informal assistance, applicable laws, procedures, evidentiary standards, MLA requirements, and the status of requests • Adopting and implementing comprehensive strategic plans targeting stolen asset recovery and that provide sufficient resources and training o providing practitioners with the framework and the tools • Introducing legislative reforms that support authorities’ capacity to restrain and confiscate stolen assets • Effectively applying Anti-Money Laundering measures • Providing a sound legal basis for a wide range of types of Mutual Legal Assistance (MLA) • Encouraging, pursuing, and maintaining all methods of informal assistance before initiation of a formal MLA request

12.30

13.45

Registration

14.00

Conducting Fraud Cases in the UAE: Identifying Fraud Through to Successful Prosecution and Civil Compensation Judgements Facilitated by Al-Suwaidi & Company with the Page Group Nigel Truscott, Partner, Al Suwaidi & Company Amer Sayed, Senior Advocate, Al Suwaidi & Company Join your Masterclass leaders, senior lawyers with extensive experience of working in the high profile world fraud investigations in this practical guide to preparing for and executing investigations in Gulf States.

Insolvency and Asset Recovery Taha Habib, Senior Associate. Al Suwaidi & Company • Exploring how and when formal and informal restructuring can be used in asset recovery • How do varying definitions of bankruptcy in Gulf States impact the procedures that can be used? o does the untested nature of commercial insolvency procedures make it more difficult • How directors can be held liable to o the company o the shareholders o third parties • How are directors’ personal duties defined in relation to failing to take any action before the company fails to meet its debts • Assessing the impact of the UAE Companies Law assertion that the “chairman and members of the board of directors shall be liable......for all acts of fraud, power abuse, violation of the Law or the company articles, and for mis-management” • Can assets be recovered directly from directors?

12.45

Post Conference Masterclass 24th January 2011

Identifying the potential pitfalls and highlighting tips and techniques, your Masterclass leaders will give detailed examples of pleadings tried and tested in leading cases. Ensure you are not left behind your competitors and are in a position to conduct effective investigations whenever the client calls… The Masterclass will explore all aspects of a fraud investigations including: • Investigate or litigate? o factors to consider when making the decision • What a lawyer can and cannot do in investigations • Assessing the scope of evidence to be gathered and restrictions on obtaining pre-trial disclosure • Compulsion of witnesses: what is permitted and where? • Production of documents and issues of data privacy • Navigating privilege challenges when dealing with documentary evidence • Conducting interviews

17.00

Masterclass Ends

Chair’s Closing Remarks

Sponsor Partners: Brown Rudnick is an international law firm with offices in the United States and Europe. The Firm offers a broad slate of capabilities and talents in areas that include: Corporate & Securities, Intellectual Property, Bankruptcy & Corporate Restructuring, Finance, Complex Litigation, Energy, Cleantech, Real Estate, Government Law & Strategies, and Government Contracts. For more information, please visit www.brownrudnick.com International law firm Clifford Chance combines the highest global standards with local expertise. Leading lawyers from different backgrounds and nationalities come together as one firm, offering unrivalled depth of legal resources across the key markets of the Americas, Asia, Europe and the Middle East. For more information, please visit www.cliffordchance.com Our experience across multiple industries and in particular the Middle East is the reason why many of the world’s largest companies — and many of its best-known law firms — turn to Ernst & Young. Our Fraud services include: Corporate Compliance, Investigation, Dispute, eForensics and Expert Witness Testimony Services. For more information, please visit www.ey.com Hadef & Partners is a long-established UAE law firm with a team of over 80 lawyers in Abu Dhabi and Dubai. We understand the laws, traditions, challenges and opportunities of the region. Just as the UAE has grown and developed since its formation in 1971, so have we. From 1980, when Dr. Hadef Al Dhahiri, the current UAE Minister of Justice, founded the firm, we have developed into a leading commercial law practice. For more information, please visit www.hadefpartners.com For more than two decades, Lewis Baach lawyers have represented Middle East financial institutions, international liquidators and major family conglomerates on the most important legal issues in the Middle East, including the liquidation of Bank of Credit and Commerce International, the Oil for Food Programme investigation and coordinating global recoveries in the region’s largest fraud case. ©C5, 2011

To register call +44 (0) 20 7878 6888 or register online at www.C5-Online.com/FraudGulf

2nd Annual

Business Information In A Global Context

Fraud, Asset Tracing & Recovery in the Gulf Legal Developments, Innovative Tactics and Successful Strategies for Civil Fraud Professionals Priority Service Code

652L12.E

5

EASY WAYS TO REGISTER WEBSITE: www.C5-Online.com/FraudGulf

℡

REGISTRATIONS & ENQUIRIES +44 20 7878 6888 EMAIL: [email protected]

¬ FAX: +44 20 7878 6896 Register & Pay by 15 December 2011

Register after 15 December 2011

ELITEPASS*: Conference & Workshop

€2598

€2698

Conference Only

€1899

€1999

FEE PER DELEGATE

*ELITEPASS is recommended for maximum learning and networking value.

PLEASE RETURN TO C5, Customer Service 6th Floor, Trans-World House, 100 City Road London EC1Y 2BP, UK CALL FOR GROUP DISCOUNTS Book 4+ places and save. Call +44 (0) 20 7878 6888.

DELEGATE DETAILS

ADMINISTRATIVE DETAILS

NAME

POSITION

APPROVING MANAGER

POSITION

Date: 22-24 January 2012 Time: 9:00 - 12:45 Venue: Al Murooj Rotana Dubai Hotel Address: Al Saffa Street (off Sheikh Zayed Rd), PO Box 117546, Dubai, UAE Telephone: +971 (0)4 321 1111

ORGANIZATION ADDRESS

An allocation of bedrooms is being held for delegates at a negotiated rate until 8 December 2011. To book your accommodation please call Venue Search on tel: +44 (0) 20 8541 5656 or e-mail [email protected]. Please note, lower rates may be available when booking via the internet or direct with the hotel, but different cancellation policies will apply.

CITY POSTCODE

COUNTRY

PHONE

FAX

DOCUMENTATION IS PROVIDED BY CD

EMAIL

The documentation provided at the event will be available on CD only. If you are not able to attend, you can purchase a CD of the presentations provided to delegates on the day of the event. Please send us this completed booking form together with payment of €595 per copy requested. For further information please call +44 (0) 207 878 6888 or email [email protected].

TYPE OF BUSINESS

CONTINUING EDUCATION

FOR MULTIPLE DELEGATE BOOKINGS PLEASE COPY THIS FORM

10 hours (conference only) plus 3 hours per master class towards Continuing Professional Developments hours (Solicitors Regulation Authority). Please contact C5 for further information on claiming your CPD points.

PAYMENT DETAILS BY CREDIT CARD Please charge my

Event Code: 652L12-DBI

○ AMEX ○ VISA ○ MasterCard

NUMBER

EXP. DATE

CARDHOLDER BY CHEQUE I have enclosed a cheque for £ ___________ made payable to C5 BY BANK TRANSFER C5 Communications Limited Account Name: C5 Communications Limited Bank Name: HSBC BANK Plc Bank Address: 31 Chequer Street, St Albans Herts AL1 3YN, UK Bank Branch: St Albans Branch BIC ( Bank Identifier Code ): MIDLGB22 IBAN: GB45 MIDL 4005 1569 7326 66 Sort Code: 40-05-15 Account Currency: EURO

If you wish to pay in GBP£ or USD$ please contact Customer Service

PAYMENT POLICY Payment is due in full upon your registration. Full payment must be received prior to the event otherwise entry will be denied. All discounts will be applied to the Main Conference Only fee (excluding add-ons), cannot be combined with any other offer, and must be paid in full at time of order. Group discounts available to individuals employed by the same organisation.

TERMS AND CONDITIONS You must notify us by email at least 48 hours in advance if you wish to send a substitute participant. Delegates may not “share” a pass between multiple attendees without prior authorization. If you are unable to find a substitute, please notify C5 in writing no later than 10 days prior to the conference date and a credit voucher will be issued to you for the full amount paid, redeemable against any other C5 conference. If you prefer, you may request a refund of fees paid less a 25% service charge. No credits or refunds will be given for cancellations received after 10 days prior to the conference date. C5 reserves the right to cancel any conference for any reason and will not be responsible for airfare, hotel or any other costs incurred by attendees. No liability is assumed by C5 for changes in programme date, content, speakers or venue.

INCORRECT MAILING INFORMATION If you receive a duplicate mailing of this brochure or would like us to change any of your details, please email [email protected] or fax the label on this brochure to +44 (0) 20 7878 6887. To view our privacy policy go to www.C5-Online.com/privacy_policy_statement.