What considerations do you make when dealing with transactions that could involve Russian parties? The situation involving sanctions in Russia is complicated, and restrictions from the U.S. and Russia itself can affect your transactions.
In the latest installment of NAFA’s webinar series, we’ll dive into Russian sanctions and what they mean for your due diligence process. We will address critical areas such as:
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The impact of Russian sanctions on traditional due diligence processes.
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How to handle situations where an aircraft was in Russia during restricted periods.
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The implications of sanctions on buyers and sellers.
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Whether sanctions apply to the purchase and sale of aircraft parts.
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How to determine if a potential buyer is free from sanctions.
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The approach of service centers, OEMs and service programs when dealing with pre-buy inspections, parts and potential sanctions concerns.
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How to address situations where an aircraft's presence in Russia was due to an Aircraft on Ground (AOG) event.
Due diligence and transactional integrity are everyone’s responsibility. All members of your team involved in any aspect of the due diligence process will benefit from this information.
Meet our Moderator:
Mr. Lapayowker devotes his law practice to corporate aircraft transactions. He counsels corporate and individual clients, foreign and domestic, on issues relating to the acquisition, leasing, registration and financing of new and pre-owned jet aircraft (including fractional aircraft). He counsels on a wide variety of aviation matters, including implementing tax efficient structures, related FAA and DOT regulatory matters, regulatory evaluation of operations, aircraft management arrangements, personal use issues and compensation-related SEC issues in connection with the use of business aircraft by public companies. He has excellent working relationships with major aircraft manufacturers which facilitates his ability to get transactions accomplished efficiently.
He is Past-Chair of the National Business Aviation Association’s Tax and Regulatory Committee, and a member of the Aviation Law Committee of The Florida Bar.
Stewart has written articles and editorials, has been quoted in the press, cited to by a federal appellate court and has lectured on various topics in business aviation.
Stewart is devoted to helping aircraft owners and operators find solutions to challenges that they face on a daily basis. He hosts an internet radio show PlaneTalkRadio.
He is committed to supporting a variety of charitable causes, including the Corporate Angel Network and Debbies Dream Foundation for Stomach Cancer, an organization devoted to curing a rare form of stomach cancer, and annually does stand-up comedy at the Improv at the Hard Rock in Hollywood Florida as part of the Debbies Dream Foundation Night of Laughter. In April 2016, he was recognized as Humanitarian of the Year by the Board of Directors of Debbies Dream Foundation.
Meet our Panelists:
Cassia has 25 years of experience in the Aerospace industry, 12 of them dedicated to study and implement controls associated with export controls and sanctions regulations practice to corporate aircraft transactions. As an engineer, she is process and business oriented, has been helping Embraer and its Business and Sales team to implement solutions to identify and mitigate risks associated with potential applicable sanctions challenges that they face on a daily basis.
Caroline E. Brown is a partner in Crowell & Moring’s Washington, D.C. office and a member of the firm’s White Collar and Regulatory Enforcement and International Trade groups and the steering committee of the firm's National Security Practice. She provides strategic advice to clients on national security matters, including anti-money laundering (AML) and economic sanctions compliance and enforcement challenges, investigations, and cross border transactions, including review by the Committee on Foreign Investment in the United States (CFIUS) and the Committee on Foreign Investment in the U.S. Telecommunications Services Sector (Team Telecom).
Caroline brings over a decade of experience as a national security attorney at the U.S. Departments of Justice and the Treasury. At the U.S. Department of Justice’s National Security Division, she worked on counterespionage, cybersecurity, and counter-terrorism matters and investigations, and gained unique insight into issues surrounding data privacy and cybersecurity. In that role, she also sat on both CFIUS and Team Telecom and made recommendations to DOJ senior leadership regarding whether to mitigate, block, or allow transactions under review by those interagency committees. She also negotiated, drafted, and reviewed mitigation agreements, monitored companies’ compliance with those agreements, and coordinated and supervised investigations of breaches of those agreements.
Most recently, she served as an Attorney-Advisor in the Treasury Department’s Financial Crimes Enforcement Network (FinCEN), where she developed an in-depth understanding of AML regulation and enforcement and FinCEN’s role in guarding the U.S. financial system against money laundering and terrorist financing. Before joining FinCEN, she served as an attorney in the Treasury Department’s Office of General Counsel, Enforcement and Intelligence, which provides counsel to the Undersecretary for Terrorism and Financial Intelligence. There, Caroline advised on sanctions, AML, and various other national security issues relevant to the nation’s financial system.
While at DOJ, Caroline was detailed to the White House for a year, where she coordinated communications strategy focused on national security. She previously worked on the 2008 Obama Presidential Campaign and served on the Obama Presidential Transition Team from 2008 to 2009. Her time at the White House as well as at Treasury and DOJ has given her significant experience managing rapid response and crisis communications.
Caroline’s time in government has enabled her to build strong relationships at senior levels across a number of U.S. government agencies, including DOJ, the FBI, the National Intelligence Council and other components of the Intelligence Community, the FCC, and the Departments of Defense, Homeland Security, State, Energy, Commerce, and the Treasury.
Caroline began her legal career as a law clerk for the Honorable Jon McCalla in the U.S. District Court for the Western District of Tennessee before joining the litigation group of a global law firm in Washington, D.C. She is a life member of the Council on Foreign Relations, a National Security Fellow at the Foundation for the Defense of Democracies, an Aspen Institute Socrates Scholar, and a Young Leader of the transatlantic organization Atlantik-Brucke.
Jeremy advises clients globally on complex cross-border regulatory, compliance, investigative, and transactional matters and policy developments that touch U.S. national security, international trade, and foreign investment, including those relating to U.S. export controls (EAR and ITAR), economic sanctions, anti-boycott laws, the Committee on Foreign Investment in the United States (CFIUS), and various national security controls on fundamental research and supply chains. Jeremy has extensive experience counseling U.S. and non-U.S. clients, including public and private companies, private equity sponsors, and nonprofits spanning a multitude of industries, including aerospace and defense, energy, entertainment, fashion, food and beverage, health care, infrastructure, technology, telecommunications, and transportation. He provides strategic guidance on managing risks for dealings in high-risk jurisdictions such as China, Russia, Venezuela, and the Middle East, among other countries and regions. He regularly advocates on behalf of such clients before the U.S. Bureau of Industry and Security (BIS), Directorate of Defense Trade Controls (DDTC), Office of Foreign Assets Control (OFAC), Bureau of Economic Affairs (BEA), Census Bureau, Department of Energy, and Nuclear Regulatory Commission (NRC).
