Dealing with the endemic of fraud and asset recovery requires a concerted and coordinated multi-jurisdictional approach. The boon of technology has made the world a small and well-connected place. Commerce is globalised and digitised such that debtors can hide assets quickly, efficiently and often remotely deploying asset-protection schemes. 

Holding companies, often used as shells or conduits, can be created with a click of a mouse or a call to remote counsel.  Funds can be transferred with equal fluidity.  In some privacy-focused jurisdictions, nominee directors and shell entities can be established without leaving home. 

Alas creditors are increasingly faced with the challenge of dealing with claims against foreign or multinational defendants without deep connections to their jurisdiction (or wherever the case is pending). It is fairly common to see defendants move and conceal assets as a backstop against out of jurisdiction.

Join TL4’s virtual event on the 15th of April and obtain thorough insights and practical solutions to address the need of the hour:

“How to develop and implement a multi-jurisdictional and cross-disciplinary strategy to trace, freeze and recover against those assets sheltered in the dark corners of the globe”