Black Eagle Litigation Fund

The Black Eagle Litigation Fund is a distressed assets and special situations private fund specializing in ex-USSR based legally distressed assets and in offshore asset recovery. The main entity of the fund is based in the Cayman Islands.

Black Eagle Litigation Fund
Mutual fund
IndustryHedge fund
FoundedCayman Islands, (2001)
HeadquartersCayman Islands
Key people
Arthur Lieber
Websiteblackeaglefund.org

Equity Partners

Equity partners of the fund were never officially disclosed. It was reported [1] that Valery Tutykhin, a Swiss-based Russian entrepreneur is one of the partners, also personally managing some of the projects of the fund.[2]

Management

Black Eagle Litigation Fund is managed by John Tiner & Partners SA, a Geneva-based financial company, although other affiliates and units of the fund may be independently managed.

Reported Activities

Early Activities

In early 2000s the fund invested into recovery rights and received recovery mandates for Russian and Ukrainian assets lost by original owners through illegal "raidering" schemes, often forcing the new owners to settle by taking investigation overseas and arresting their offshore assets.[3]

Cyprus Bank Crisis

The fund is reported to have been speculating in rights to frozen deposits in Cyprus banks in 2013.[3]

Ukrainian Bank Debt

Following the collapse of a large number of commercial banks in Ukraine during 2014 - 2015[4] Black Eagle Litigation Fund started purchasing selected distressed debt of such banks at the same time offering financial remuneration for information on offshore assets of major shareholders of failed banks.[5][6]

Transaero Litigation

It was reported[7] that Kara Burkut Recovery Ltd., a Cyprus entity which in 2018 purchased a 1 billion Russian_ruble defaulted debt of the Russian airline Transaero, and is engaged[8] in asset tracing litigation in the US against the principals of Transaero, is associated with Black Eagle Litigation Fund. This was confirmed[9] by the media center of the Black Eagle Litigation Fund group.

See also

References
  1. "Vulture Funds Descend Upon Distressed Banks In Ukraine". Vesti Ukraine. April 28, 2015.
  2. "V. Tutykhin interview to FORBES "Как отсудить деньги у кипрских банков"". Forbes. April 16, 2013.
  3. Elena Zubova (March 28, 2013). "Antiraiders in Cyprus: How Russians Are Saving Their Money". Forbes.
  4. "Ukraine central bank declares fourth-largest lender insolvent". Reuters. March 3, 2015.
  5. "Insolvent Banks in Ukraine: Reward for Information". Black Eagle Litigation Fund announcement. March 23, 2015. Archived from the original on June 26, 2015. Retrieved June 26, 2015.
  6. "Vulture Funds Descend Upon Distressed Banks In Ukraine". Vesti Ukraine. April 28, 2015.
  7. "Кипрская компания Kara Burkut выкупила у МТС Банка долг «Трансаэро»". Gazeta.ru. August 2, 2018.
  8. "Кипрская фирма будет искать активы "Трансаэро" во Флориде". РАПСИ. June 29, 2018.
  9. "Компания Kara Burkut Recovery Ltd., действующая при поддержке Black Eagle Litigation Fund, объявляет о приобретении у российского ПАО МТС Банк прав требования к ОАО "Авиационная компания Трансаэро"". Black Eagle Media Center. March 14, 2018.


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