OFAC Removes Arent Fox Client Zimre Holdings Limited from SDN Sanctions List
Los Angeles, CA — On January 12, the US Treasury Department’s Office of Foreign Assets Control granted Arent Fox LLP’s petition to have Zimre Holdings Limited removed from the Specially Designated Nationals and Blocked Persons list. OFAC’s decision will benefit Zimre going forward, including allowing the company to once again conduct investments and insurance business with US citizens. The Arent Fox team included partner Ambassador Pierre-Richard Prosper, White Collar & Investigations leader Mary Carter Andrues, partner Jeffrey R. Makin, and associate Diane B. Roldán.
“We are pleased that OFAC granted our petition to remove Zimre Holdings Limited from the SDN list,” said Ambassador Prosper. “We are grateful to OFAC for allowing a productive exchange that quickly resulted in the conclusion that Zimre Holdings Limited placement on the SDN list is not warranted.”
This is the second time in recent years that Arent Fox has successfully petitioned the OFAC regarding the Zimbabwe SDN list. In April 2014, the OFAC granted Arent Fox's petition to have Muller Conrad Rautenbach and his company, Ridgepoint Overseas Development Ltd., removed from the SDN list. As a result, Mr. Rautenbach and Ridgepoint were able to conduct business with US citizens and anyone subject to US jurisdiction.
Amb. Prosper’s practice focuses on international government relations and trade mediation, internal assessments, and investigations on behalf of government entities and companies. Before joining Arent Fox, Amb. Prosper was the US Ambassador-at-Large in charge of the Secretary of State’s Office of War Crimes Issues. Prior to that, he served as a war crimes prosecutor for the UN International Criminal Tribunal for Rwanda from 1996 to 1998, and he is a former state and federal prosecutor. A former federal prosecutor, Ms. Andrues focuses largely on investigations involving the False Claims Act, FCPA, export enforcement, public corruption, and health care fraud and abuse.
Arent Fox is a destination firm for its work representing foreign sovereigns, contracting parties, and investors in cross-border disputes. Our lawyers have significant experience in state-to-state disputes, investor-state arbitration, and international commercial arbitration involving bilateral investment treaties, free trade agreements, multilateral and regional regimes, and private contracts. The firm advises clients — both sovereigns and private entities — on international investment and trade issues, and conducts arbitrations across major industries, including energy, reinsurance, agriculture, intellectual property, telecommunications, and infrastructure.