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Creditors often find themselves in a position where they are required to make decisions regarding pursuit of a debt or acceptance of a settlement where they have limited or imperfect information. An asset trace investigation can assist in the following scenarios.
- Evaluation of the integrity of information provided by the debtor in support of a settlement agreement.
- Assess the net asset position of a non-cooperating debtor to allow for informed decision making regarding next steps.
- Consider options for the enforcement of a judgment.
- Assess the commercial merits of taking legal proceedings – does the defendant have the capacity to discharge costs or an adverse award?
- Tracing the proceeds of fraudulent activity.
- Confirm the net asset position of a party involved in family law proceedings.
Asset trace investigations can be tailored to suit the circumstances of each assignment based on the nature/location of the assets and the information available at the outset of the engagement e.g. Statements of Affairs, financial records etc.
Standard asset trace reports may typically include results and commentary on searches of:
- the land registry and registry of deeds;
- local authority planning applications;
- companies registration office and UK companies house;
- high court records;
- registered judgments;
- probate records;
- the liquor licence register;
- the irish civil aircraft register; and
- horse racing Ireland and Irish greyhound board records.
In addition to this, we regularly undertake assignments in conjunction with our colleagues in RSM offices around the globe.
