From corporate fraud to contested estates, asset recovery involves legally retrieving property, funds, or assets that have been wrongfully taken or withheld. These processes present challenges that involve deploying appropriate legal remedies and navigating factual issues which are highly specific and it is recommended that an asset recovery specialist is instructed to assist.
Asset recovery lawyers focus on locating, tracing, and recovering lost or misappropriated assets, or securing assets for enforcement of a prospective favourable decision, whether financial or otherwise. They work with various stakeholders, including other legal professionals, financial institutions, and investigators, to identify, secure, pursue, and retrieve assets. These methods can be employed in cases of potential fraud where it is necessary to trace assets to their location, and later develop strategies to recover them from appropriate jurisdictions.
Understanding Asset Recovery
Asset recovery can involve both civil and criminal proceedings. Common scenarios include:
- Fraudulent transfers of funds
- Concealed or hidden assets during divorce, insolvency or pending court or arbitration proceedings
- Non-payment of commercial debts
- Enforcing court decisions or arbitration awards
The Legal Tools at Your Disposal
An experienced lawyer can use a range of mechanisms to protect your interests:
- Freezing Orders (Mareva Injunctions) is a type of court order that prevents a party from disposing of or dealing with their assets. The main purpose is to stop a defendant from moving or hiding assets to avoid paying a potential judgment. It is to be noted that it does not give the claimant any proprietary rights but rather stops the defendant from diminishing or dissipating their assets. It is also typically granted ex parte i.e. without notifying the defendant in advance to prevent them from hiding their assets before the judgment is enforced. A freezing order can be domestic (covering assets in England and Wales) or worldwide (covering global assets).
- Norwich Pharmacal Orders – is a type of court order that compels a third party (usually an innocent one) such as a bank, an internet service provider, or a social media company to disclose certain information to the applicant. The goal is usually to identify the wrongdoer when the claimant does not know who they are or obtain evidence to take legal action.
- Search Orders (previously known as an Anton Piller Order) is a powerful court order in England and Wales that allows the claimant to enter the defendant’s premises (with court supervision) to search for, inspect, and seize evidence, usually documents or electronic data, that might otherwise be destroyed or hidden.
- Tracing Orders are court orders that allow a claimant to identify and recover property or its proceeds that have been wrongfully taken or transferred, typically due to fraud, breach of trust, or misappropriation.
Why England is a Strategic Jurisdiction
England is a leading jurisdiction for obtaining interim relief in asset recovery due to its powerful and flexible legal tools and highly experienced courts. Its claimants also have access to a wide range of remedies such as freezing orders, search orders, and Norwich Pharmacal orders, often on an urgent and ex parte basis. These allow for swift action to trace, preserve, and recover assets, whether held domestically or abroad. English courts also have a global reputation for fairness, enforceability, and their ability to compel third parties like banks to disclose crucial information. This makes England especially attractive for complex, high-value, and cross-border asset recovery cases.
Working with Investigators and Forensic Experts
Top asset recovery lawyers often work alongside forensic accountants, investigators, and international legal teams to build a robust case. Many such professionals are based in England and Wales and have extensive experience in assisting in complex multi-jurisdictional asset recovery cases.
Asset recovery is complex, but with the right legal guidance, you can reclaim what is rightfully yours. If you are facing asset loss or need to enforce a legal judgment, speak with our experienced asset recovery lawyers in London today.
