Role of legal counsel in asset tracing and recovery

Igor Semenov Counsel and Coordinator of Assets Tracing Practice

30 June 2016

Main tasks of legal counsel in assets tracing and recovery

• Focusing the investigators on certain jurisdictions

• Working on evidence for further litigation/arbitration

• Developing general legal strategy of dispute resolution and assets recovery

Focusing the investigators on certain jurisdictions• Analysis of public sources and public registers re assets of the debtor

• Analysis of debtor’s corporate structure and tax planning schemes

• Analysis of debtor’s commercial activity and transactions

• Analysis of debtor’s financial accounts

• Analysis of personal property of the beneficiaries of the debtor

• Analysis of lifestyle and interests of beneficiaries of the debtor

Focusing on 2-3 most promising jurisdictions

Working on evidence for further litigation/arbitration

• Obtaining excerpts from public registers re assets identified

• Evaluation of the assets identified

• Interviews and collecting witness statements

• Engaging experts and collecting expert reports

Actual assets recovery• Application to courts for disclosure of assets

• Application to courts for disclosure of bank accounts information

• Application to courts for assets freeze

• Application to courts for piercing of corporate veil

• Engaging and coordination of local counsels in jurisdictions involved

• Filing claims aimed on actual assets recovery

• Considering options on initiation of criminal proceedings

Thank you for attention!