Asset Tracing

Asset Tracing is the investigation process by which assets belonging to, or controlled by, an individual or business are identified and located so that they can be recovered by their rightful owner. These assets may be in the form of property, vehicles, cash, bank accounts, shares or interests in other businesses, art pieces, intellectual property etc.

We conduct Asset Tracing assignment for individuals, attorneys and legal officers, private companies and government agencies. Asset Tracing assignments are normally undertaken in relation to:

•    Family Law matter where the ownership and location of assets are in dispute
•    Civil litigation where the origin or ownership of the assets are in dispute
•    Non-payment of a debt or where a debtor is believed to have hidden assets
•    Probate whereby extent or nature of assets is questioned or disputed
•    Other circumstances whereby parties are in dispute as to the amount, type and location of assets

Some clients request that an Asset Tracing check be undertaken on a party prior to commencing legal action – to make sure that the other party has assets to satisfy any awards made against them. If not, the client could incur the expense of mounting a legal action but fail to be paid should they win and the other party claims bankruptcy or insolvency. If the other party can be shown to have moved assets to avoid paying, then the court can instruct recovery of these assets.

Though Asset Tracing can sound to relatively simple, there are numerous complicating factors, including the following;

•    The subject may mix his own money with that belonging to others, and then purchase an asset with the mixed funds. This is commonly    referred to as co-mingling
•    The initial assets have been sold to an innocent third party who has bought them in good faith
•    The asset have been used to pay off a debt of the subject or their close relative

It is common for people to hide or disguise their assets under the names of other family members or else try to place them in a trust structure. Some even take steps to on-sell the assets to people with contacts overseas to muddy the waters further.

Summit Investigations has devised effective strategies to identify assets held in real and intangible properties, offshore vehicles and multi-layered corporate holdings. While strictly adhering to privacy and protection laws, Summit Investigations will identify and follow complicated financial trails to trace assets hidden locally or in foreign jurisdictions. This will involve unwinding complex asset-hiding schemes.

Identifying the location and value of hidden assets is the first critical step in recovering assets in litigation, and in applying for appropriate legal relief. We will provide legal professionals or support your chosen professional to have property you are legally entitled to, returned to your possession.

Do you need to know more about how Asset Tracing can assist you or your company?

Please feel free to call us direct on now on 1300 608 530 to discuss your requirements or else send an email to our confidential address  and we will contact you at your convenience.