Call Us TODAY on 020 3588 4240

Understanding Asset Collections & Investigations

Dealing with debts and debtors becomes a massive task for business owners. Often the circumstances become unfavourable where the debtor is incapable of making the payment towards the debt and this affects your businesses cash flow. The quickest way to collect your debt is to seek help from a debt collection agency.

Shergroup is one of the most recognised and trustworthy debt collection specialist agencies in the UK. For a business owner, it can sometimes be difficult to know what to do in such situations. However, with a Shergroup’s debt collection you can find out how to recover your debt with asset collection and investigation services.

A company can make use of the asset tracing and litigation product any time before, after or during the litigation process. Using this service makes it convenient for the creditor to dig deep into the debtor’s assets to see if they can afford to pay the resulting judgment and associated costs.

What are traceable assets?

Assets are the valuables owned by a business or an individual. These can be anything from real estate, stocks, shares, possessions, undeclared bank accounts, intellectual property rights, company assets (e.g., property, plant, and equipment, vehicles, livestock, yachts and, of course, money). If you’re in the UK, you need to first check if the assets exist and can be traced. Otherwise, you will be bearing heavy legal fees and unnecessary litigation costs. Asset tracing is simply the tracing and identification of the property or valuables that clients want to recover through the courts or by negotiated settlement.

The asset tracking process is a series of complex protocols that require professional backing. To identify and procure stolen assets it takes skill, judgment, and legal intelligence on the part of the legal professional dealing with the matter. The procedure is divided into three distinct phases: pre-investigation, judicial, and recovery.

Phase 1- Identify the assets

This falls in the pre-investigation phase when the asset trace is instructed. This phase comprises gathering all possible information on the target potential assets, like their value, location, and their registered ownership status. The process shifts to the Investigative phase after the properties have been found in the Pre-Investigation phase.

Phase 2- Secure

The Judicial phase comprises trial and subsequent issuance of a judgment against the individuals listed in the Investigation process. To recover the assets from the jurisdiction where they were discovered, the judicial authorities of the requesting jurisdiction must work closely with their counterparts to ensure that the proper steps are taken.

If the properties and their provenance have been found, it’s time to protect and restrict them to prevent them from being dissipated, removed, or, in some cases, destroyed.

To secure the seizure of the identified assets, the instructing client, which is often a law firm, must obtain judicial authorization. A temporary injunction blocks a party’s properties until the Court’s further order or final resolution.

To secure the seizure of the identified assets, the instructing client, which is often a law firm, must obtain judicial authorization, such as a Mareva injunction, a temporary injunction blocks a party’s properties until the court’s further order or final resolution.

During the pendency of a suit, the so-called Mareva injunction, established by English courts, forbids a defendant from moving assets outside of the United Kingdom or otherwise interfering with their assets (other than in the ordinary course of business and for the payment of proper expenses).

Mareva injunctions were initially limited to properties within the United Kingdom, but they have since been expanded to include assets in many other jurisdictions, including offshore tax “havens.”

Phase 3- Recovery

And finally, the recovery phase is where the asset is returned to the rightful owner. When a court orders the arrest, confiscation, or restriction of properties, action must be taken to execute the order. A request must also be made if properties are found in a foreign jurisdiction.

If you’ve been a victim of fraud, calculating the damage, finding the offenders, and devising a recovery plan are all critical. Criminals can now move money around the world and hide behind complicated offshore corporate structures thanks to technological advancements.

You might have a court judgment for a money claim but if your debtor has no assets that you could recover to pay off the debt you will have to bear the costs of your legal advisors and the loss of the value of the judgment. This is where our Asset Trace Report will help you save on the expensive litigation costs. This report will confirm what assets your debtor has.

Once a judgment has been secured, an Asset Trace Report will reveal the most effective enforcement techniques for recovering a judgment debt, costs, interest, and enforcement fees.

As enforcement professionals, we believe that a Writ of Control is an excellent tool to pursue a Judgment Debt, especially in high-value claims, since as High Court Enforcement Officers, we may search for things that can be secured and eventually sold to settle the debt.

A Writ of Control secures a judgment over commodities and can be used in conjunction with a Charging Order over a house or other land and structures. In a comprehensive dig into a person’s assets, bank accounts, director salaries, and stock portfolios can all be emphasised.

The report will also examine corporate assets and affiliations, as well as hidden assets and assets linked to persons and corporate entities. Any successful party’s enforcement strategy will include an Asset Trace Report, and we can assist with all applicable enforcement techniques through our sister legal company, Shergroup Legal.

Summing-up

Shergroup understands the difference between intelligence and evidence required for use in a Court of Law. We have extensive knowledge of the legal system, enforcement regimes and cultural practices within the jurisdictions that we most commonly operate. Having conducted extensive multi-jurisdictional and cross border complex investigations, we are experts at assisting with commercial and high-end litigation. We deliver reliable and actionable intelligence for lawyers, financial firms, corporate clients, third party funders and HNW individuals worldwide. We operate internationally and have exceptional capabilities in the UK and other offshore banking jurisdictions in Europe.

Funds can be anywhere. Our experienced team helps you find and collect – from asset-tracing and freezing injunctions to judgment enforcement and recovery. So, if you need our services, go to our product page, and fill in the details and make the payment or contact us if you may have any queries.

https://shergroup.com/product-page/asset-report-for-litigation-and-enforcement/

You can contact us via our channels

Our contact channels are
By Phone | 020 3588 4240
Website | www.shergroup.com and you can chat to us from here
Email | [email protected]
Facebook | Check out Shergroup on this channel and message us
Twitter | Check out ShergroupChat on this channel and message us
LINKEDIN | Check out Shergroup’s LINKEDIN feed – and please FOLLOW us!
Instagram | Check out ShergroupChatter and follow us!

You Might Also Like

DISCLAIMER NOTICE |

The following disclaimer applies to Shergroup Limited and its platform, shergroup.com. Please read this notice carefully before accessing or using any information provided on our platform.

  1. No Legal Advice | The information presented on shergroup.com, including but not limited to articles, blog posts, FAQs, and other resources, is provided for general informational purposes only. It is not intended to be, and should not be considered, legal advice. The information provided does not create a solicitor/client relationship between Shergroup Limited and the user.
  2. Not a Substitute for Legal Advice | The information on shergroup.com should not be relied upon as a substitute for obtaining legal advice from a qualified professional. The application of laws and regulations can vary based on specific circumstances, and legal advice tailored to your particular situation is crucial. Therefore, we may refer you to a member of our partner firm -Shergroup Legal – on legal matters or encourage you to take your own legal advice from your preferred advisor.
  3. No Guarantee of Accuracy | While we strive to provide accurate and up-to-date information, Shergroup Limited does not guarantee the accuracy, completeness, or reliability of any information on shergroup.com. The legal landscape is constantly evolving, and laws may vary across jurisdictions. Therefore, any reliance you place on the information provided is at your own risk.
  4. No Liability | Shergroup Limited, including its officers, employees, agents, and affiliates, shall not be held liable for any direct, indirect, incidental, consequential, or punitive damages arising out of your access to or use of shergroup.com or any information contained therein. This includes, but is not limited to, any errors or omissions in the content, or any actions taken or not taken based on the information provided.
  5. Third-Party Links | Shergroup.com may contain links to third-party websites or resources. These links are provided solely for convenience and do not imply endorsement or responsibility for the content, accuracy, or legality of such websites or resources. Shergroup Limited shall not be liable for any damages or losses incurred as a result of accessing or using any third-party websites or resources.
  6. Changes to Disclaimer | Shergroup Limited reserves the right to modify or amend this disclaimer notice at any time without prior notice. Any changes will be effective immediately upon posting on shergroup.com. It is your responsibility to review this notice periodically for updates.

By accessing or using shergroup.com, you acknowledge that you have read, understood, and agreed to this disclaimer notice. If you do not agree with any part of this notice, you should refrain from accessing or using shergroup.com.

Last updated | 19 July 2023

Should you have any questions or concerns regarding this disclaimer notice, please contact us at [email protected]