Daniel Tunik

Lenz & Staehelin

Geneva www.lenzstaehelin.com

daniel.tunik@lenzstaehelin.com Tel: +41 58 450 70 00

Biography

Daniel Tunik is a partner in the litigation and arbitration group of Lenz & Staehelin in Geneva and is active in both court litigation and international arbitration. His fields of activity cover all forms of commercial disputes, notably in the banking sector. He is also active in the areas of insolvency law, white-collar crime and employment disputes.

What do clients look for in a top asset recovery practitioner?

Asset recovery implies essentially a mix of legal tools, handling and fact-finding skills. An asset recovery practitioner must therefore have a good command of the legal avenues available on a global basis as well as the capacity and willingness to go for deep documentary dives. An appetite for international, complex and multi-cultural situations is also required.

In what ways do you think the pace of technological change will affect asset recovery proceedings in the next few years?

The development of IT tools expands greatly the search capacities and makes them more efficient. Having said this, these technological changes do not directly or fundamentally affect the legal environment in which asset recovery practitioners intervene. In other words, while technological tools are helpful for the purposes of collecting and analysing data, judicial proceedings as such are not directly or significantly affected by such changes and the traditional skills remain required.

If you could introduce a legal reform to aid asset recovery, what would it be and why?

Timing is one of the difficulties frequently encountered in international asset tracing exercises. Fraudsters tend to be very efficient in moving the proceeds of their fraud having assets transferred through multiple jurisdictions in little time. By contrast, criminal authorities face multiple legal obstacles. As a result of this time gap, plaintiffs and law enforcement authorities regularly end up identifying bank accounts that no longer hold the proceeds of the fraud. Asset recovery would benefit from the development of more efficient and swift instruments of cooperation by law enforcement authorities across jurisdictions, subject, however, to sufficient due process guarantees.

What skills are needed to successfully collaborate with lawyers, experts and authorities in different jurisdictions?

Asset recovery practitioners may have a similar activity in their respective jurisdictions, but they do so in a different environment. As a result, a successful collaboration on an international basis requires the ability to adapt and deal with distinct legal and cultural aspects. In addition to the language barriers, working with a foreign jurisdiction requires the ability to capture the essence of the applicable local regime without constantly addressing it as if it was the same as in the lawyer’s home jurisdiction.

What role do you see thirdparty funding playing in asset recovery litigation moving forward?

Third party funding is at a rather early stage in Switzerland. There is however a clear trend in that direction and several players have emerged lately and expanded the offer for such services. Asset recovery is certainly an area where there could be interest on the plaintiffs’ part to obtain third-party funding.

What are the main considerations when developing strategies for the international search and recovery of assets?

Any strategy should be guided by factual and legal considerations. The first step is the identification of all geographical connecting factors, be it with respect to the actors involved or the assets at stake. The second layer is the legal analysis and the identification of the judicial tools and remedies available in the jurisdictions that come into consideration.

How has the shift to virtual working affected networking and training opportunities, and how have you adapted accordingly?

The pandemic experience has shown that a significant amount of work can be done remotely and efficiently, including with respect to training opportunities. At the same time, experience has shown that in-person contact is appreciated and that the team work that is required in the asset recovery environment is easier to carry out through physical presence rather than remotely.

How might up-and-coming asset recovery practitioners’ best position themselves in today’s market?

White-collar crime and asset recovery practices have undoubtedly expanded in the past years and brought new issues and challenges. Just to give one example, frauds and disputes inevitably derive from the blockchain technology. A new generation of lawyers is probably well suited to handle such matters.

WWL says: Daniel Tunik garners considerable acclaim for his “pragmatic” approach to contentious matters, with sources commenting on his ability to find a satisfactory solution to asset recovery claims.