Forum shopping in the Metaverse: where to litigate (or arbitrate) your next crypto asset clash

Sara Sheffield is a dispute resolution lawyer at Charles Russell Speechlys in Dubai and has extensive experience in complex cross-border commercial litigation and international arbitration. Sara has over 14 years of experience as a commercial disputes, white-collar crime and regulatory disputes lawyer between Australia, England & Wales and the UAE. She joined the Litigation and Dispute resolution team in 2020, having been permanently based in the region since 2013. Sara acts in complex commercial litigation in the Dubai International Financial Centre and the Abu Dhabi Global Market Courts in the UAE, and in the English High Court, as well as arbitration matters before local and international centres. Sara handles a wide range of commercial disputes, often involving cross border issues, with a focus on: • Shareholder and partnership disputes • Financial services disputes • Fraud, asset-tracing and both civil and criminal recovery • Contentious insolvency matters • Regulatory (e.g. DFSA) investigations • Ancillary relief matters including third party disclosure orders and worldwide freezing orders • Enforcement matters Sara sits as a member of the DIFC Courts Rules Sub-Committee (2020 – 2023). Sara is one of few lawyers ranked in Who's Who: Asset Tracing and Recovery UAE consecutively in the years 2018-2023. Sara was also shortlisted for Arbitration Lawyer of the Year and received an Honourable Mention for Litigator of The Year at the LexisNexis Women In Law Awards 2022. Sara previously worked for the federal prosecution agency in Australia and the Serious Fraud Office in the UK. Experience • Acting for UAE investment companies in a claim in the DIFC Courts against a global investment bank for AED 100 million+ losses arising from alleged mis-selling of investment products. • Acting for a UAE based global crypto-currency trading platform company in respect of a claim in the DIFC Courts against a DFSA-regulated investment company arising from the loss of a significant amount of Bitcoin. • Acting for a UAE bank in the ratification and enforcement of English and New York judgments in the DIFC Courts, for onward enforcement in the Kingdom of Saudi Arabia. • Acting for an individual in connection with an investigation by the Dubai Financial Services Authority for alleged breaches of DIFC Regulatory Law. • Acting for an individual in a GBP 70 million dispute with a global media agency including an unfair prejudice petition in the Hong Kong Courts and contractual claims in the English Courts. Acting for a UAE investment company in an AED 800 million+ partnership dispute with a foreign listed property developer in LCIA arbitration, including related court proceedings in Singapore and the DIFC Courts

Described by clients as “a formidable force”, “our go-to guy” and “good when you need someone to fight your corner”, Danny brings a wealth of experience, commercial acumen and strategic wisdom to his specialist areas of complex international commercial and financial disputes and investigations, as well as cross-border restructuring and insolvency. He is the current Co-Executive Director of International Chamber of Commerce’s FraudNet, a network of specialist asset recovery professionals across over 80 jurisdictions. Danny has led multiple high-stakes cross-border disputes and investigations, across a multitude of industries over the last two decades. He is regularly called upon by financial institutions, private investment funds, and state-owned enterprises, to act in mandates involving complex investments, market misconduct, and distressed situations. He is also known for his expertise in international enforcement, fraud, and financial crime and is recognised amongst the Global Elite as one of 40 Global Thought Leaders in the asset recovery field. With extensive experience in multi-jurisdictional headline restructurings and insolvencies, Danny is recognised as a “standout” in the market. His portfolio includes acting for debtors in the Eagle Hospitality REIT restructuring, and acting for the liquidators of 45 Lehman entities across Asia (ex-Japan), MF Global Singapore, Dynamic Oil Trading (of the OW Bunker Group), and BSI Bank. More recently, Danny has been a pioneer in disputes and managing crises in the blockchain and digital assets space, having led the team that successfully prosecuted the first cryptocurrency claim before the Singapore International Commercial Court, and advising distressed cryptocurrency investment platforms. Danny combines technical excellence with sharp commercial sensibility and creativity in tackling novel legal questions. He is spoken of by clients as “an excellent litigator” and “an outstanding lawyer” who is “adept at tackling unique and challenging issues” and “combining a deep and broad knowledge of the law with a pleasant manner and an ability to switch gears and become a powerful advocate and highly effective cross-examiner”. Danny graduated from the National University of Singapore and is admitted to the Singapore Bar as well as the Rolls of Solicitors of the High Courts of Hong Kong and England and Wales.

Jeffrey Alberts is a partner at Pryor Cashman in the United States. Jeffrey’s practice focuses on government investigations and prosecutions and related regulatory proceedings, asset forfeiture litigation, victims’ rights representation, and complex civil litigation. Jeffrey is an experienced trial lawyer who has served as lead counsel in numerous trials, including civil and criminal federal jury trials, state jury trials, and state and federal bench trials. Since Jeffrey joined the firm in 2013, he has handled a variety of significant matters related to asset forfeiture and money laundering. These matters included testifying as an expert on U.S. asset forfeiture and money laundering law in a civil forfeiture proceeding in the Royal Court of the Bailiwick of Jersey in which the U.S. government sought to forfeit several hundred million dollars in properties that allegedly were involved in international money laundering transactions. Jeffrey also represented a client before the Second Circuit Court of Appeals in a successful challenge to the government’s pretrial restraint of bank deposits and other property. He also served as lead forfeiture counsel in a securities fraud prosecution in which the government sought to forfeit over $180 million in assets. Immediately prior to joining the firm, Jeffrey spent six years as an Assistant United States Attorney in the Criminal Division of the U.S. Attorney’s Office for the Southern District of New York, where he investigated and prosecuted a wide variety of white collar criminal offenses, including securities fraud, bank fraud, mail and wire fraud, bankruptcy fraud, and money laundering. Jeffrey served for several years in the Asset Forfeiture Unit of the U.S. Attorney’s Office and was lead counsel in numerous civil and criminal asset forfeiture actions and civil money laundering cases. While in the U.S. Attorney’s Office, Jeffrey played an instrumental role in several high profile cases, including asset forfeiture proceedings involving proceeds of the securities fraud that Marc Dreier executed using the law firm Dreier LLP, the fraud scheme at the financial services company Refco, Inc., and the securities fraud committed by Samuel Israel at the hedge fund known as the Bayou Funds. Jeffrey also received international recognition for successfully representing the U.S. Government in an asset forfeiture jury trial concerning a stolen artwork created by the renowned artist Camille Pissarro and returning the artwork to the French Government. For his role in the prosecution of Marc Dreier, Jeffrey was awarded the 2010 Department of Justice John Marshall Award, the Department’s highest award for legal excellence. Jeffrey also was the recipient of the 2009 Department of Justice National Asset Forfeiture Award for his role in the forfeiture of over $500 million in proceeds of the fraud at Refco, Inc.

Syed is a recognised leader in offensive asset recovery matters, civil litigation involving cryptocurrencies, criminal defence and corporate fraud cases. He also has expertise in guiding corporate clients through regulatory and compliance issues both in the UK and abroad. Syed has a vibrant sanctions practice and is adept at managing a wide range of high-level, in international sanctions matters. Syed's recent clients include ultra-high net worth individuals and companies in the financial services sector who have relied on him to solve complex, multijurisdictional problems. Syed is well known for being a proficient and aggressive litigator who is equally adept at representing clients in civil and criminal cases.