Locating Assets

People seeking to recover stolen assets can initiate legal proceedings to secure and recover them. Typically, these lawsuits are founded in legal theories based in tort law, breach of contract, or unjust enrichment. The person bringing the lawsuit (the plaintiff) seeks a legal or equitable remedy for harm caused when assets were taken by the defendant(s).

Burgwald Legal specializes in identifying, locating, and recovering stolen assets, even across national borders. Attorney Ralph Burgwald studied in Münster, Germany and at the Emory University School of Law in Atlanta, Georgia, USA on an academic scholarship. He practices in Munich, in Germany, and is also admitted to the bar in the US states of New York and Georgia. His practice has a focus on location and confiscation of assets concealed by debtors.

Investigative Tools for Locating Assets

When contemplating a civil lawsuit, the identity and location of assets to satisfy a judgment is a preliminary question that must be addressed before filing a lawsuit. Depending on the jurisdiction, a plaintiff may have various legal tools available to identify and locate assets. The extent to which parties to litigation are required to disclose documents and other relevant evidence differ between jurisdictions. Sometimes a plaintiff can request disclosures before formal legal proceedings have commenced. Other tools available for locating and identifying assets include search and seizure orders and taking witness testimony through a deposition or affidavit.

Discovery

Some jurisdictions, notably those within the US, allow for discovery. Discovery is a pre-trial process that calls for the exchange of documents, information, and other evidence between parties to a lawsuit. Discovery is intended to promote fairness by allowing each party to know the facts and evidence that will be presented during trial, thereby reducing the likelihood of surprise and promoting settlement.

Common discovery tools include:

• Interrogatories: Written questions sent by one party to another. The questions must be answered in writing, under oath.
• Document Requests: A request that another party produce documents, records, electronic files, and other tangible items relevant to the case.
• Requests for Admission: Written questions sent to another party asking that they admit or deny specific facts, thereby simplifying the issues that must be proven at trial.
• Depositions: Questioning of a party or witness under oath, with testimony recorded for later use in court filings or at trial.
• Subpoenas: A legal order requiring that a third party produce evidence or testify.

Disclosures

Disclosures refer to the mandatory exchange of key information between parties or potential parties to a lawsuit, typically without the need for a formal discovery request. The purpose of these disclosures is to promote transparency, reduce unnecessary litigation and discovery, and streamline the legal process.

In some cases, a party contemplating a lawsuit can seek disclosure of certain basic information before filing a formal lawsuit for damages or equitable relief. For example, banks and other financial institutions may be required to disclose accounting forms, the identity of account owners and beneficiaries, financial statements, and due diligence information (commonly known as “know your customer” information).

Document Requests

A party seeking the recovery of assets can formally request the disclosure of documents held by a defendant or potential defendant. A plaintiff can use a document request to trace assets, identify ownership, expose concealment, or otherwise support their legal claim. Document requests are typically used during litigation, but can also be used before formal litigation through a subpoena or other statutory framework.

Common document requests address:

• Financial records
• Corporate and other business documents
• Property or asset ownership or transfer
• Communications such as emails, text messages, or letters between key parties
• Transactions with third-parties

Search Orders

Search and seizure orders require the named party to grant entry and allow law enforcement to search and seize property, documents, or other materials specified in the order. To obtain a search and seizure order, the plaintiff must demonstrate that if he were to file a lawsuit there would be a high likelihood of the loss or destruction of the named assets.

To obtain a search and seizure order, the plaintiff must establish:

1. A high likelihood of success on the merits of the case;
2. Serious damage to the applicant; and
3. Clear evidence that the defendant has the assets or evidence in the possession and a real possibility that they will destroy the assets of evidence before a formal lawsuit can be filed and resolved.

Evidence from Witnesses

A witness is any person who provides written or oral testamentary evidence of what they know or claim to know about a particular matter. Witness testimony is often critical evidence in asset recovery cases.

Witness testimony can provide factual and contextual support for a plaintiff’s legal theory and can provide a firsthand account of communications, transactions, and activities that reveal how assets were obtained, transferred, or concealed.

Witness testimony can also be used to prove intent to conceal or other misconduct, establish ownership of an asset, or corroborate documentary evidence.

Freezing Assets

Once assets have been identified, a plaintiff can request a court order to seize or restrain assets. Seizure involves taking physical possession of the targeted asset, while a restraining order involves securing or freezing the assets without taking possession of them.

In certain jurisdictions, law enforcement officers have a limited right to provisionally seize assets without a court order. When a court order is required, it may be necessary to initiate preliminary legal proceedings seeking an injunction that prevents any person from dealing with or disposing of any of the assets named in the order until the conclusions of the legal proceedings.

In certain circumstances, it may be wise to seek the appointment of an administrator or receiver who would be tasked with tracing and securing assets held by a company or its subsidiaries.

How Burgwald Legal Can Help

Together with a worldwide network of colleagues, Burgwald Legal focuses on the identification and recovery of assets primarily serving clients in Germany. To put his expertise to work for you, contact Burgwald Legal today.