Civil Asset Recovery: Reclaiming Stolen and Misappropriated Assets
When a person becomes a victim of financial crime (e.g., fraud, embezzlement, misappropriation), punishing the perpetrator is only part of the solution. The primary concern for the victim is recovering the lost property or funds. Often, the criminal process fails to ensure full compensation, especially if the perpetrator managed to hide or alienate the assets. In such cases, Civil Asset Recovery becomes necessary. This is a complex legal process aimed at tracing illegally misappropriated assets, freezing them, and returning them to the rightful owner, both within Georgia and internationally.
Civil asset recovery involves specialized investigation conducted by private lawyers and financial experts. Unlike criminal law, where the burden of proof lies with the prosecution, in civil litigation, the victim (plaintiff) must prove the validity of their claim. This service is vital for companies that have suffered corporate fraud and individuals who have lost significant amounts of money.
What Does Civil Asset Recovery Service Cover?
Specialists on Legal.ge offer comprehensive services to recover lost assets:
- Asset Tracing: Working with financial experts to determine where funds were transferred or in whose name property was registered. This includes tracing real estate, bank accounts, and business shares.
- Securing the Claim (Freezing Orders): Petitioning the court to freeze the defendant''s assets before the dispute concludes to prevent further alienation.
- Voiding Transactions: Annulling contracts (e.g., gifting property to a relative) through which the perpetrator tried to hide assets.
- Tort Claims: Filing a civil lawsuit for damages, either parallel to the criminal case or independently.
Common Situations and Real-World Scenarios
The need for asset recovery arises in the following cases:
- Business Partner Dishonesty: A partner secretly transferred funds from the company account to offshore accounts or misappropriated assets.
- Fraud Schemes: A person invested in a "pyramid scheme" or non-existent project, and the organizer vanished.
- Real Estate Fraud: An apartment or land plot was illegally transferred to a third party based on a forged power of attorney.
- Cybercrime: Funds were transferred from a bank account as a result of a hacking attack.
Georgian Legislation and Legal Framework
The legal grounds for property recovery are outlined in the Civil Code of Georgia (Article 992 - Tort liabilities, Article 172 - Revindication of property). The Civil Procedure Code is also crucial, regulating measures to secure a claim (asset freezing). If the property has been transferred to a bona fide purchaser, recovery becomes more difficult; however, the lawyer works to prove that the new owner knew or should have known about the illegal origin of the property.
Process: What to Expect When Working with a Specialist
The process begins with a financial investigation. The lawyer searches for information on the defendant''s assets in the public registry and other sources. Immediately after, a motion is filed with the court to freeze assets. This is a critical stage, as losing time means losing property. During the trial, the lawyer proves the fact of damage, the amount, and the causal link to the defendant''s actions. At the enforcement stage, the lawyer cooperates with the enforcement bureau to actually recover the funds.
Why Choose Legal.ge?
Recovering lost property requires speed and knowledge of financial law. Legal.ge gives you access to lawyers experienced in asset tracing and civil litigation. They will help you reclaim what is legally yours. Find your lawyer on Legal.ge.
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