Legal Lens Joel Cohen on asset tracing, cross-border issues, and ABCs
Sep 25, 2023
Joel Cohen, managing partner at Stout's NYC office, shares insights from his extensive experience in forensic accounting and asset management. He discusses the vital role of asset tracing in today's global economy, highlighting the complexities of cross-border regulations. The conversation also covers the rise of cryptocurrency, its implications for valuation, and the challenges of using digital assets in legal frameworks. Cohen explains the nuances between receiverships and bankruptcy, showcasing how these approaches affect distressed companies and international investments.
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Joel Cohen’s Forensic Accounting Start
- Joel Cohen vividly recalls being fascinated by work uncovering Nazi-seized Swiss bank accounts for WWII reparations.
- This experience inspired him to focus on forensic accounting and financial fraud early in his career.
Cross-Border Insolvency Complexity
- Modern insolvency cases are rarely domestic and almost always involve multiple jurisdictions.
- Understanding the legal frameworks and regulators in each jurisdiction is key to successful asset tracing and restructuring.
Crypto Volatility Challenges Collateral
- Cryptocurrency’s extreme volatility poses unique challenges in using digital assets as loan collateral.
- Constant price fluctuations complicate valuation and collateral monitoring in distressed situations.