Asset Tracing
Asset tracing is often part of litigation when situations arise where assets are in dispute or cannot be found.
A process by which one “follows the money”
... often part of litigation and can involve the following cases:
- Fraud
- Divorce
- Bankruptcy
- Intellectual property infringement
- Breach of contract
Matrimonial disputes usually arise when assets are in dispute or cannot be found. Simply put, asset tracing is the process by which one can “follow the money”.
can include things such as financial securities, company ownerships, real estate, vehicles, jewellery, artwork etc. While tracing sounds simple to do, in practice it can be challenging as some people go to great lengths to cover their tracks and hide ownership through the use of third parties.
There are three steps involved:
1 – Identifying the asset – at this early stage this involves investigating and analyzing available data, examining filings and social media, and sometimes undercover investigation. At this point court orders can be obtained if the request can be supported.
2 – Securing the assets – this involves working closely with legal counsel to freeze the asset to prevent future transfer
3 – Recovering the assets – through the use of specialized lawyers and law enforcement, this is where we are able to get our hands on the asset and have it returned to the rightful owner.
