Asset Recovery & Global Enforcement
Proven team helping you to trace and recover assets throughout Central and Eastern Europe and beyond
We understand the complexities of Asset Recovery
Our experienced asset recovery lawyers understand the interplay of criminal, administrative and civil measures to recover assets and advise on the enforcement of foreign civil or criminal judgements and injunctions.
Most asset recovery cases in our world today involve fraud, often due to weaknesses in regulatory compliance and other internal controls.
Essentially, anyone can become a victim of fraud, be it an individual or a multi-dollar company. Currently, losses due to fraud and error in any organisation are expected to be at least 3%, probably closer to 6.5%, and possibly more than 10%.1
In fact, since the beginning of the COVID-19 pandemic, overall fraud has increased by more than 51% and further increases are expected in areas such as cyberfraud, employee embezzlement, bribery, and corruption.
The economic crisis was certainly a catalyst for an increase in general fraud, and any time there is financial gain to be had from fraud, Asset Recovery comes into play. There of course can be other reasons why a party would owe money and try to hide it, thus forcing one to chase it. The tricky part is that funds can be anywhere, making it essential for action to be taken quickly and decisively.
1 The financial cost of fraud 2021, The Latest data from around the world, Jim Gee and Professor Mark Button
Key experts
Our services
All the members of our Asset Recovery team are highly experienced litigation lawyers. Furthermore, our team has mastered and works closely with other key areas of Wolf Theiss with regard to the following legal services:
- Asset Tracing
- Claims of all sorts to recover assets
- Freezing injunctions in support of civil (foreign) or criminal proceedings
- Enforcement and recognition of judgments and arbitral awards
- Defeating asset-protection strategies and recovering assets from complex oversea trust structures
- Coordination of proceedings in multiple jurisdictions
- Enforcement of Non-Performing Loans
- Contentious insolvencies and restructurings
- Cross-border insolvencies
- Cybercrime
- Sanctions
We use a wide range of powerful tools to support the tracing, identification, freezing, and recovery of all types of assets belonging to our clients. Given that we consistently work in large teams of international lawyers, we have unique relationships with private investigators, private intelligence companies, asset tracing providers and other litigation services providers. Where appropriate, we work with litigation funders selected by our clients and we may support clients in identifying potential funding providers in the CEE/SEE region.
International Networks
Wolf Theiss is a member of the International Fraud Group (IFG), a leading worldwide network of lawyers specialised in asset tracing and recovery.
https://www.internationalfraudgroup.com/
Freezing assets on a global scale
Representing a global financial institution against its former shareholders, including an injunction for assets valued at over USD370 million against the defendants.
Combating high-stakes fraud in the oil industry
Advising a Fortune Global 500 commodity trading and mining company in a multi-million-dollar dispute following fraud related to oil deliveries.
Successfully defending clients in “Fake President” fraud cases
Representing a leading aerospace company of innovative composite systems in one of the biggest fake president frauds worldwide.
Successful recovery of crypto assets
Advising and representing a leading real estate company in a major fraud involving crypto assets in multiple jurisdictions.
Effective global enforcement
Advising the US investment management company in a USD 5 billion case regarding the enforcement of the bondholder’s rights.
Get in touch
Whether you need an international team with extensive experience, Wolf Theiss can support your business goals through our profound legal practice.
