Law, disrupted

• The Client’s Perspective on Litigating High Stakes Cases

  John is joined by David Proman, Co-Founder and Managing Partner of Atlas Grove Partners and long-time Quinn Emanuel client. They discuss David’s extensive experience working with elite law firms, including Quinn Emanuel, on high stakes matters involving structured finance, digital assets, and complex bankruptcies. At Atlas Grove and its subsidiary, GXD Labs, David has built an investment platform that identifies legal claims as investment opportunities. One example of such an opportunity was David’s early and aggressive pursuit of RMBS claims. In 2010, David was at a fund called Fir Tree Partners that was the most activist fund manager in the RMBS space. They pursued cases against the world's largest banks for breaches of warranties, which led to recovering almost $4 billion for Fir Tree Partners’ investors. David worked with Quinn Emanuel partner Sascha Rand on many of these cases, adding “we have great thanks and gratitude to Quinn Emanuel for working on this with us for over a decade against some of the world's most significant counterparties". Another example was the Celsius bankruptcy. Celsius was a crypto lending platform with 600,000 customers. At its peak, it had almost $20 billion in liabilities. Celsius’s customers stored their Bitcoin, their Ethereum, or their digital tokens using deposits, similar to bank deposits. When Bitcoin dropped dramatically in 2022, the company became insolvent and filed for bankruptcy. Bankruptcy proceedings revealed numerous legal issues, including fraud.David’s Blockchain Recovery Investment Consortium (BRIC) won the role of litigation administrator and crafted a plan focused on returning value to defrauded customers. Working closely with Quinn Emanuel partner Ben Finestone, BRIC’s strategy involved bringing claims against counterparties across the world who had harmed Celsius before it went bankrupt. One of BRIC’s biggest recoveries resulted from a $300 million settlement with Tether. David credits Ben with bringing strong legal claims and strategies to defeat “issues that I don't think have ever been litigated before in crypto.”When working with law firms, success depends on aligning the incentives of the firm and the client, maintaining open communication, and active client involvement in developing legal strategies, especially in complex or novel sectors like cryptocurrencies. Counsel should be both strategically creative and brutally honest about risks. As David said, “that's part of the reason why I love you guys: because you always give me honest feedback.” David also believes that fee structures should prioritize results over billable hours. After the case, all parties should reflect on both wins and losses to continuously improve decision-making.Finally, David and John discuss the evolving legal risk in AI infrastructure, where opaque contracts and fast-changing technology may spark future waves of litigation.Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

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• Landmark NMC Restructuring in UAE

  John is joined by Richard East and Karabeth Ovenden, partners in Quinn Emanuel’s London Office. They discuss the unprecedented bankruptcy and restructuring of NMC, the largest healthcare provider in the United Arab Emirates (UAE). Initially listed on the London Stock Exchange and heavily favored by the market, NMC collapsed precipitated by a report by short-seller Muddy Waters raising significant questions about the audited accounts of the company. Ultimately it was revealed that NMC had approximately $6.5 billion in debt, rather than the $2.5 billion that had been disclosed to the market. Over 100 creditors rushed to seize NMC’s assets across the UAE. The absence of a compreheånsive UAE bankruptcy framework posed an existential threat to the company, especially because the crisis occurred during the COVID-19 pandemic when NMC facilities were treating a significant portion of the country’s COVID hospitalizations.To address this crisis, a team of QE insolvency litigators initiated administration proceedings first in the UK for NMC’s parent company. However, this did not protect NMC’s UAE-based operating entities. To protect those assets and preserve continuity of care, the QE team adopted the novel strategy of moving 36 NMC operating companies into the Abu Dhabi Global Market (ADGM), a common-law “free zone” jurisdiction within the UAE. This required a sovereign executive order to release existing asset attachments and allow for insolvency proceedings in the ADGM—an unprecedented step in UAE restructuring history.The move faced significant jurisdictional and legal resistance across the various Emirates. Recognition of the ADGM orders in onshore courts was difficult, requiring extensive legal argumentation and government coordination. Once inside the ADGM, the companies could proceed with a complex reorganization plan, culminating in a successful arrangement which obtained support from over 90% of the creditors. The team also navigated criminal investigations, litigated against dissenting creditors, and pursued claims against parties potentially complicit in the fraud. Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

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• Re-release: Trial Practice with Alex Spiro

  John Quinn is joined by Alex Spiro, partner in Quinn Emanuel’s New York and Miami offices and one of the best-known trial lawyers in the U.S.  Alex explains that his approach to trial preparation is to immerse himself into the evidence as trial approaches. He reads every relevant document to understand even tangential details, rather than just looking for "hot docs." This deep dive helps him construct a narrative that, if all goes well, leads the jury to a collective “Eureka” moment, where the verdict becomes clear. Alex also explains that he does not rely on mock juries and external validation because his themes must resonate with his own beliefs to be compelling. Instead, he prefers to bounce ideas off colleagues who may suggest course corrections. Alex says that understanding human psychology is crucial because the motivations behind actions often matter more than the actions themselves. The discussion turns to how Alex balances the demands of multiple cases while remaining completely focused on the next upcoming trial. He credits his ability to compartmentalize and work long hours, as well as strong support from trial teams. He also explains to clients from the outset that during their “moment of truth,” he will prioritize their case entirely, but before then, he might be prioritizing the impending trials of other clients. The discussion then turns to criminal justice reform, a subject Alex is passionate about. He describes the criminal justice system as structurally biased, especially against marginalized communities. He identifies the most urgent priorities for reform as bail reform, sentencing disparities, and changing the current system's backward-looking nature, which he believes perpetuates outdated and discriminatory standards. When asked about AI’s role in sentencing, Alex expresses concerns that AI could reinforce existing biases by relying on historical data, potentially leading to harsher outcomes, particularly for first-time offenders. Finally, John and Alex discuss that it has become harder for lawyers to represent controversial clients but emphasize the importance of doing so.Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

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• Re-release: The Visionary Leader Behind the UAE’s Top Law Firm

  John Quinn is joined by Essam Al Tamimi, Founder and Chairman of Al Tamimi & Company, the leading law firm in the UAE and the broader Middle East and Africa region. Founded in 1989 in Sharjah, UAE, the firm has grown to encompass 17 offices across 10 countries with 420 lawyers, dominating the legal landscape in the UAE.  Mr. Al Tamimi explains his firm's origins and his vision of creating a leading regional law firm, inspired by international models like Clifford Chance and Kim & Chang.  John and Mr. Tamimi discuss the UAE's legal evolution, starting from scratch with the UAE’s independence in 1971 to its current sophisticated blend of common and civil law.  This transformation is supported by specialized jurisdictions like the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM), which offer international standards in arbitration and legal proceedings.  Mr. Al Tamimi notes how these developments have fostered competition and elevated local legal standards.  He also describes the UAE's rapid economic and social development, emphasizing its visionary leadership, diversification, and commitment to tolerance and innovation.  He explains how the UAE has addressed negative stereotypes about its business environment, emphasizing the UAE’s stringent new money-laundering regulations and its open approach to foreign investment.  The nation’s inclusive ethos, welcoming diverse expatriates and fostering collaboration, has been key to its success.  Looking ahead, Mr. Al Tamimi underscores the importance of focusing on future-facing sectors like AI, renewable energy, healthcare, and education.  He believes these fields will drive growth and advises young lawyers to align with emerging global trends.  Mr. Al Tamimi's passion for mentorship and his disciplined lifestyle reflect his commitment to sustaining the firm's legacy in the UAE’s evolving legal and economic landscape.Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

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• Re-release: In House Corporate Counsel Practice in China

  John is joined by Leslie Zhang Weihua, Vice President and General Counsel of United Energy Group, China, one of the largest independent oil and gas companies in the world.  They discuss Leslie’s extensive experience in international legal affairs, including his experience as general counsel for both large state-owned enterprises (SOEs) and private companies in China.   They discuss the differences between providing legal services for SOEs and private companies, including the additional procedures SOEs must follow in making business decisions, the strategic issues in addition to return on investment that SOEs must consider and how rate sensitive SOE’s procurement procedures are and how that applies to hiring counsel.  They also discuss the expectations that Chinese clients have with respect to counsel finding creative solutions to regulatory issues, the rates paid for unsuccessful legal projects, and responsiveness in providing legal analysis. They also compare Chinese and Western law firms with respect to training, expertise, and specialization while noting the ongoing expansion of Chinese firms into international work and the Chinese government’s policy of encouraging the continued development of international arbitration centers in Hong Kong and Singapore.  Finally, they discuss the role lawyers can play in improving relations between the United States and China including the importance of recognizing the risks and costs of decoupling.Podcast Link: Law-disrupted.fmHost: John B. Quinn Producer: Alexis HydeMusic and Editing by: Alexander Rossi

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