Asset Tracing & Recovery
Peters & Peters has one of the UK’s pre-eminent Asset Tracing and Recovery practices and we are recognised internationally as specialists in this field.
We are often asked to advise on matters of suspected fraudulent activity where it appears that assets have been, or are at risk of, being dissipated. We are able to draw on an array of tools available from both the English Courts and foreign jurisdictions to trace the location of such assets and secure them for recovery.
Our areas of expertise include:
We are regularly instructed to seek worldwide freezing injunctions and disclosure orders on behalf of clients. Where funds have been moved outside the jurisdiction, we are able to call upon trusted practitioners from around the world specialising in asset tracing, freezing and recovery to assist us. When complied with, such orders should lead to the identification and location of assets, which can then be secured against dissipation. In the event that the respondent to an order fails to comply with its terms, we are able to act quickly to seek punitive measures against that defendant.
Third Party Disclosure Orders
As part of the identification of assets that have been misappropriated, we regularly seek orders requiring banks and other appropriate third parties to disclose information. Such orders are particularly useful when attempting to locate funds that have been transferred through multiple bank accounts.
Search & Seizure
We are experienced in applying for and implementing search orders to preserve evidence that may be relevant to a claim when it is situated on premises that are not under the control of the claimant, for example a defendant’s home or office. A number of our partners have also acted as independent Supervising Solicitors, appointed by the Court to supervise the execution of search orders.
In the event that there is evidence to suggest that the defendant would wish to flee the jurisdiction to avoid prospective proceedings, we can apply to the court for an order requiring the defendant to surrender their passport(s) and travel documents.
Securing and Enforcing Foreign Judgments
In certain circumstances, the English court may be used to secure and enforce foreign judgments. We work with foreign claimants and regulators who wish to freeze the assets of defendants (whether domiciled in the UK or not) and/or to recover the assets of defendants located here.
- We acted for a company in a fraud and asset tracing claim against its former director and an offshore company under his control, concerning the alleged misappropriation of several million US dollars and the tracing of monies through Cyprus, Russia and Switzerland. A worldwide freezing injunction and disclosure order were obtained against the former director, including in Switzerland.