Enforcement and asset tracing
Asset tracing is an important mechanism within commercial disputes. Tracing assets before a case proceeds to litigation can save money and provides clarity in evaluating whether a claim is worth pursuing. It is important to establish if there are adequate assets available to fund a monetary award.
We work with recognised appointed investigators who locate financial assets, property or other valuables in order to determine lifestyle, assets held, any income or employment or any associates.
We have strong relationships with both investigators and forensic accountants who we regularly work with when investigating the journey of financial assets and building an accurate picture of a financial position.
Once a judgment has been obtained on behalf of our clients, there are various enforcement steps that can be taken including: court orders for evidence of income or deduction from debtor’s wages; debt collection via bailiffs; and freezing of debtor’s bank and accounts.
Recent work includes:
- Acted for a claimant challenging jurisdiction to enable the claimant to defend the claim in a more favourable jurisdiction.
- Advised on a successful injunction application for a freezing order and a subsequent professional negligence claim against a firm of solicitors and a claim for an indemnity from the Land Registry.
- We acted on a matter whereby the claim had been brought previously and discontinued. A similar claim was brought and we successfully obtained a strike out for abuse of process.
- We have advised on potential insolvency and possible available claims, including wrongful or fraudulent trading, transactions at an undervalue and misfeasance claims.