What is global asset recovery?

Legal Floris LLC

Everyday, people enter into different types of financial agreements and transactions. The majority of these transactions end up well without any complaints. Sometimes, though, hiccups and other detrimental events occur, and money gets lost somewhere down the line. In matters of (offshore) bank failure and international investment fraud, creditors are left in the dark until resolution plans are presented by the authorities or the court. Global asset recovery aims to prevent losses to happen in the first place but when they occur, it allows victims to understand the process so that they can prepare for maximum repayment. The collection of assets is made easier by global asset recovery.

The financial system has a global character. It is expected that this will further advance over the coming years. It is more common these days that where people lose money, assets cross border and enter different legal systems and jurisdictions. From an emotional perspective, victims want justice. This means for them that they want their money back. This is however not always easy to accomplish locally, let alone on an international scale.

Global asset recovery mitigates risk for victims in (offshore) bank failure and international investment fraud by diversification of recovery options for a group of customers. This efficient strategy is often effective because it relies on different recovery options and is thus less dependent on the singular approach of the authorities, corporate administrator or the liquidator.

To learn more about the specific activities involved in global asset recovery, the services section of this website and the article on offshore financial centers help those interested in the recovery of their assets. It must be mentioned that asset recovery is a singular event that does not allow for second chances. Victims must therefore plan their recovery plan accordingly to avoid lengthy, frustrating and disappointing results.

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