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Asset Tracing

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The service offered by Lawhive is outstanding
The service offered by Lawhive is outstanding. The process to find the most suitable solicitor is straightforward and efficient. The pricing is transparent and clear and the solicitors that have been provided to me have been outstanding. I would strongly recommend this company to anyone looking for a solicitor.
Jane,
09 July, 24
Courteous, fast and competent service
I would definitely recommend Lawhive also for the way the service is structured with a quick initial call and then their online private chat, which saves unnecessary costs, time and provides the kind of flexibility to follow the case when it’s more convenient to you.
Fabrizio,
12 July, 24
Great service and job well done
Great service, excellent communication, very accommodating with timing and date requests. All done efficiently. Highly recommended.
Basira,
23 July, 24
Very happy indeed
A great service and in my experience, knowledgeable, helpful and experienced solicitors who's help I found to be invaluable. Thank you Lawhive, great job.
Paul,
26 July, 24
Had a great experience with Lawhive
Had a great experience with Lawhive, not only did I get a great price compared to everywhere else I looked, but my assigned solicitor was amazing and super helpful every step of the way. I even got my wanted outcome with my custody case in the end.
Danny,
27 July, 24
Exceptional Support
I recently used Lawhive to assist with my British citizenship application, and the experience was fantastic. My lawyer was incredibly helpful and kind throughout the entire process.
Angels,
29 July, 24
We had a very good experience with…
We had a very good experience with lawhive our solicitor was kind attentive and quick. She gave us all the relevant information and advice and sorted out our matter in a clear and straightforward manner. We are very grateful and pleased that we chose your services and would highly recommend.
Jo,
02 August, 24
The service offered by Lawhive is outstanding
The service offered by Lawhive is outstanding. The process to find the most suitable solicitor is straightforward and efficient. The pricing is transparent and clear and the solicitors that have been provided to me have been outstanding. I would strongly recommend this company to anyone looking for a solicitor.
Jane,
09 July, 24
Courteous, fast and competent service
I would definitely recommend Lawhive also for the way the service is structured with a quick initial call and then their online private chat, which saves unnecessary costs, time and provides the kind of flexibility to follow the case when it’s more convenient to you.
Fabrizio,
12 July, 24
Great service and job well done
Great service, excellent communication, very accommodating with timing and date requests. All done efficiently. Highly recommended.
Basira,
23 July, 24
Very happy indeed
A great service and in my experience, knowledgeable, helpful and experienced solicitors who's help I found to be invaluable. Thank you Lawhive, great job.
Paul,
26 July, 24
Had a great experience with Lawhive
Had a great experience with Lawhive, not only did I get a great price compared to everywhere else I looked, but my assigned solicitor was amazing and super helpful every step of the way. I even got my wanted outcome with my custody case in the end.
Danny,
27 July, 24
Exceptional Support
I recently used Lawhive to assist with my British citizenship application, and the experience was fantastic. My lawyer was incredibly helpful and kind throughout the entire process.
Angels,
29 July, 24
We had a very good experience with…
We had a very good experience with lawhive our solicitor was kind attentive and quick. She gave us all the relevant information and advice and sorted out our matter in a clear and straightforward manner. We are very grateful and pleased that we chose your services and would highly recommend.
Jo,
02 August, 24
Rated 4.8 / 5. Showing our 4 & 5 star reviews.

About

Asset tracing is the process of locating assets that have been hidden or moved by another party. Solicitors can help trace assets and ensure that the debtor is unable to hide their assets.Next steps

How much does help with Asset Tracing cost?

The cost for a licensed solicitor to help with Asset Tracing is dependent on many factors including the complexity and specific requirements of the case. On average it is expected to range from £345-£675 but in some cases it could cost as much as £800.

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How our asset tracing solicitors can help

Commercial asset tracing doesn't have to be a headache for your business. Our team of assert recovery solicitors can provide high-quality legal advice to help you navigate the challenges. Here are just some of the ways our legal team can support you:

Conducting investigations

Our team can conduct detailed investigations to examine documents and help identify any hidden assets. They can also look for misappropriated assets that have been stolen or misused by an individual or business. They can also investigate asset sales that might have been undertaken by a company. 

Applying for legal search orders

Search orders can be essential in ensuring assets are recovered. Our asset recovery team can help obtain disclosure orders which can force individuals or businesses to disclose assets. Plus, they can look into freeze orders, which can be necessary in cases where assets are being misused.

Instructing tracing agents

Our asset tracing lawyers can help to legally instruct tracing agents. These tracing agents can help in complex cases such as fraud or misappropriated assets. They share the information with the tracing agents who will trace and recover the assets. This tracing can then be used for court procedures.

Advising on enforcement strategies

Our legal team can offer the best enforcement strategies to recover assets. They'll look at the debtor’s financial position and assess their assets and cash flow situation. They can then advise on the best tools needed which will lead to the recovery of assets.

Why choose Lawhive for an asset tracing solicitor?

We're not like your average law firm. We'll connect you with a legal expert from our network of commercial solicitors and provide you with a fast and efficient service that's tailored to you. Here are just a few reasons that you might like Lawhive:

  • Experts in asset recovery: We'll pair you with a solicitor who has in-depth experience in commercial asset tracing and recovery. They'll understand the correct strategies to use and be able to guide on what's best for you and your business.

  • Cheaper on average: Typically, we're up to 50% cheaper than a traditional law firm. We'll provide you with an instant fixed fee quote before you get started, with no obligation on your end.

  • Fast and easy: We aim to connect you to an asset tracing solicitor that can take your case in up to 48 hours. In most cases, it's even quicker than that.

When is asset tracing and recovery necessary?

Asset tracing can be essential when commercial disputes arise. Here are just a few of the circumstances when asset tracing or recovery might be needed for your or your business:

1. Fraud and misappropriation 

Asset tracing is commonly used in cases of fraud to recover and identify business assets. Solicitors can look into tracing asset transfers and money trails to help discover the assets. The solicitor’s tracing of the assets can help to prove who is accountable, where the assets are being held and the process of recovery. 

2. Insolvency and liquidation

When a company becomes insolvent, the insolvency solicitor or practitioner needs to identify all assets of the business. This can help the business to pay off debts and creditors can recover their funds. It is necessary during the liquidation process to identify any assets that have been wrongfully transferred or hidden before the liquidation of the company.

3. Breach of contract

Businesses or individuals may have hidden assets to avoid enforcement or a contractual obligation. In these cases, assets can be discovered by the professional analysing the financial records and property transactions. The assets will then help to make sure businesses are enforced to their legal responsibilities.

4. Divorce and family business disputes 

There may be cases where assets need to be retrieved as they have been concealed in divorce proceedings or family-owners business. Solicitors can then trace and recover the assets to make sure the case is fair and no financial misconduct takes place. They can disclose assets that may have been hidden to stop distribution to the other party.

Costs and solicitor fees involved

The cost of a commercial asset tracing solicitor will be unique depending on the complexity and requirements. Here's a quick snapshot of the services you might expect to pay for:

  • Investigation costs: This may include instructing tracing agents and conducting investigations into bank statements.

  • Court fees: If steps are taken to recover the fees, the solicitor will be required to be paid to take action and represent you in the court proceedings.

  • Legal orders: You'll also need to pay for the solicitor to obtain legal orders. This can help to disclose assets and can freeze them if the money is being misused such as in fraud cases. 

Recovery of costs

If the case is successful in court, there is the potential for recovering legal costs from the debtor. Solicitors can apply for a costs order which will cover the costs that the party would have paid to recover the assets. The recovery of costs is common in cases of fraud or breach of contract.

Using Lawhive

Transparent fixed-fees

Know exactly what you will pay. On average 1/3 of the cost of a high street firm

Hassle-free

Receive a custom quote in as little as 5 minutes. No hassle, no obligation.

Conveniently online

Follow your case from the comfort of your home with our online platform.

Brilliant support

Our world-class support will be with you every step of the way.
Traditional Law Firms

Pay by the hour

Hourly charges mean costs are hard to predict and you could be charged more than you expect.

Frustrating

It can be take days or weeks to hear updates from your solicitor.

Outdated and offline

Offline and slow procedures will require you to visit firms in-person.

No support

No dedicated support team. You'll have to deal with issues on your own.

Common asset tracing strategies

Our asset tracing and recovery solicitors will conduct a thorough investigation into the assets and irregularities to find the best strategy for you. Your strategy will be tailored to your business and as cost-effective as possible. Some of the most common asset tracing strategies include:

Disclosure orders

A solicitor might recommend a disclosure order which can force third parties to provide information on the whereabouts of the asset. This can help to prove where the asset is and whether it’s been hidden. The solicitor can apply for a Norwich Pharmacal Order which is an order that can compel a third party such as a bank to disclose information in cases such as fraud. 

Search orders

Your solicitor may decide that the best strategy is a search order (formerly the Anton Piller Order). This order allows premises to be searched and any infringing material seized to be used as evidence. A search order can then lead to the recovery of misappropriated assets.

Freezing orders

Another strategy that the solicitors may use is to use a freezing order which can stop a debtor or fraudster from dissipating assets. The freezing of orders can be used by a creditor who is concerned about an individual or business owner selling their asset.

International asset tracing

Solicitors may find the best step to take once assessing the situation is international asset tracing. The solicitor can arrange this if the asset has been moved abroad and needs to be identified. With international asset tracing, they can use international agreements and cross-border cooperation to access the location of the asset tracing. 

There are several reasons why asset tracing can be complex and challenging:

Hidden or disguised ownership

There are situations where individuals or businesses may disguise asset ownership. This might occur if a business owns debt or is facing insolvency. The asset may be transferred to other parties such as a name of a relative, a shell company or offshore entities. Your solicitor can take steps such as instructing tracing agents or international tracing for complex cases.

Jurisdictional issues in international tracing

If the assets have been moved to offshore accounts, there can be challenges in tracing the assets across multiple jurisdictions. Each country has their own law regarding the recovery of assets. Your solicitor will have the best knowledge of different legal systems and trace assets in countries with less stringent transparency laws than asset tracing in the UK.

Time sensitivity and asset dissipation

There is a risk when it comes to asset tracing that the assets could be dissipated. This means the assets are sold or hidden which makes it impossible for the creditors to trace them. There is the possibility that the asset is moved beyond the reach of enforcement. Due to this, asset tracing should be done as soon as possible.

If you're interested in asset tracing legal advice, we're here to help. Our network of lawyers can advise you on your case and the best next steps, no matter the complexity. Get started today with an instant fixed fee quote.

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