Asset tracing is a growing area in the field of investigations. The reason for tracing assets vary from case to case, but the end final hoped results are the same. The location of individuals or companies assets, where their existence is not known or when they have been hidden to be out of reach of plaintiffs.
Most people seeking assets have a set amount they are looking for.
As many people hid their assets in a number of locations around teh world assets can be traced in various jurisdictions.
COMMERCIAL ASSET TRACING
As business are failing with many owners being personally responsible for the debts many of them have moved and hidden their assets, thinking that will be out of the reach of creditors, the court or insolvency lawyers.
As well as the above hiding assets there are many people who have personally borrowed to fund their life style with houses, boats and cars many who have now defaulted telling the lender they have now funds or assets to settle the debt. Some of these have hidden assets around the world.
ASSET TRACING AND RECOVERY FOR PRIVATE INDIVIDUALS
There are many reason why an individual may wish to locate the assets of another person. This could be because of divorce proceedings and on party has hidden assets and misinformed the courts as to their wealth.
There are other cases where individuals have lent money to others as a personal matter or they have won litigation against a trader or supplier and are finding it difficult to enforce the judgment.
ASSET tracing is normally undertaken when there has been a judgment secured or when legal action is being considered. Even when there is a judgment to enforce the problem can be that the assets are out of jurisdiction and the creditor needs further legal action in that jurisdiction to get the enforcement order endorsed by the local courts.
Many offenders go to extraordinary lengths to hid assets, and bank accounts. Offshore companies, in jurisdictions that do not require the names of the owners. Properties abroad purchased through these companies.
Some offenders are not so elaborate; they just have other Bank accounts and properties in their own names and hope no one will find them.
HOW WE CAN HELP
We have many years’ experience in tracing assets throughout the world, through our agents and associates we can search many jurisdictions.
As most offenders owe a certain amount we work within that amount and start looking for one or two assets that will fulfill that debt.
Laws and information available differs from one country to another. In some countries locating bank accounts is legal and in many others it is not. This is the same for property in many countries we can search by a person’s name and in others we cannot.