Articles & Video
Investigative strategies in support of asset recovery: broadly vs. narrowly defined approach
Freezing Orders - Court clarifies the definition of Respondent’s assets
The recent decision of Peter MacDonald Eggers QC (sitting as a high court judge) in FM Capital Partners v Frederic Marino and others has challenged what have become known as the "the Commercial Court words" now routinely adopted into the standard form freezing order.
Defaulting Trustees: A Broad Brush Approach to Interest?
Once a trustee is found to be in default of his obligations, how is the beneficiary to be properly compensated and what interest ought to be paid? Nugee J recently considered this question in Glenn v Watson  EWHC 2483 (Ch) finding that there was little authoritative guidance. Rather his Lordship considered the court’s approach should be a ‘broad brush’ one and he relied upon industry data to find a rate of interest appropriate to the return an investing trustee would have obtained. The case is of interest for those involved in asset recovery because Nugee J applied his reasoning by analogy to a wrongdoer who held the victim’s money as a constructive trustee.
Disclosure and Privilege in England and Wales – What you Need to Know
When a fraud is suspected, a business will turn to its professional advisors to investigate if wrongdoing has occurred. Witnesses will be interviewed, forensic investigators will trawl through papers and documents will pass between the business, its lawyers, and third parties. In this article, Elaina Bailes, Senior Associate at Stewarts, summarises the English law on privilege and covers four key questions fraud practitioners should ask themselves, whether trying to protect legal privilege during an investigation or later arguing for documents to be produced.
Strategic Considerations in Asset Recovery Planning
There is no doubt an investigation into fraud, bribery or corruption is complex and burdensome and it is easy for companies to get distracted in the investigative outcome and not necessarily consider where the money went or recovering associated losses. In our experience, planning for such recoveries sooner rather than later gives companies a better chance in minimizing and reclaiming financial losses. In approaching this, companies should consider the legal mechanisms available to them and the strategic objectives they wish to achieve in the short mid and long term before initiating an asset recovery plan.
Enforcement in Jersey: What you Need to Know
As an important international finance centre Jersey is used to dealing with the enforcement of judgments from other jurisdictions. This article provides an introduction to the principal options available to a foreign judgment creditor.
Switzerland - Overlooked Tools for Pre-Trial Evidence Outside of Criminal Proceedings
This is a well-known pitfall for asset recovery practitioners that discovery orders are not available in civil law jurisdictions. Instead, victims of fraud usually request the opening of criminal proceedings in order to benefit from broad freezing orders and disclosure orders. Using criminal proceedings in support of civil claims is however not without risk as the public interest for the prosecution of crimes trumps, to a certain extent, the private interest of civil plaintiffs.
Reverse-Veil Piercing in the United States: An Emerging Cause of Action Gains Steam
Reverse-veil piercing claims—holding a company liable for a individual’s actions if recognizing the corporate form would cause fraud or similar injustice—have gained steam in recent years, challenging the limited liability protections offered by US corporations and limited liability corporation (LLCs); much to the delight of creditors.
Enforcing Legal Awards in Asia
Tom Glasgow, Chief Investment Officer (Asia) of IMF Bentham, and Bruno Vickers, Senior Director of Investigations at GPW Asia, discuss enforcing legal awards in Asia.
Freezing Orders in Guernsey: What you Need to Know
Freezing injunctions are often used in Guernsey to preserve the assets of a defendant whilst proceedings are, or are gong to be, pursued in the Guernsey Courts. It is also common for the Royal Court of Guernsey to grant freezing injunctions ancillary to proceedings and/or injunctions in other jurisdictions
Dealing with liars on all sides of a case
Giving evidence in Court remains a solemn event; lying in court is not therefore to be trivialised. It carries potentially serious consequences including conviction for perjury (though, as shown in the Andy Coulson prosecution, not all lies told in Court amount to perjury) or committal for contempt of court under CPR 32.14.
The Missing Billion: Asset Recovery Challenges in India
In 2015, while the world’s attention was focused on wars and terrorism, a small Indian commodities’ trading company was quietly defrauding several banks out of more than a billion dollars. The story, which emerged in halting, incomplete headlines in the Indian business press, led to one of the most expansive private investigations in India in recent memory. And yet for those who lost funds, recovery has remained elusive.
Your Online “Data Self” and the Impact on Fraud and Asset Recovery
As Marcus Brigstocke has happily explained to all of us in the recent Experian adverts, each one of us is represented online by a “data self” comprised of the sum of our interactions with social media and other internet companies.
Trends in Frauds in the Modern World
Over recent years, reports have consistently suggested that fraud is on the increase in the modern world, though it is difficult to ascertain whether that is due to an actual increase in the quantity of fraud or due to greater detection and reporting of fraud
Interview: The Role of Investigators in Asset Recovery
Asset recovery hub recently caught up with Peter Pender-Cudlip, Co-Founder of GPW + Co, to see how the role of the investigator has changed in recent times.
Q: How is the role of investigators changing in asset recovery?
Case Study Analysis: Digital Currencies
How can you recover assets from someone who has specifically gone out of their way to hide their wealth in digital currencies? Well, as Burford’s recent case study shows, options are available and paths to recovery do exist, so long as you know who to ask and where to look.