Asset Tracing within the context of dispute resolution is a decisive stage where a creditor attempts to find the debtor's actual property to cover the debt. This service is identical to Service #333 but focuses on the enforcement and insolvency context. Often, after winning a lawsuit, it turns out the debtor has "cleaned out" their accounts. Asset tracing involves locating not only real estate but also shares, intellectual property, license rights, and receivables. Legal.ge offers access to investigative lawyers who use legal methods to uncover hidden wealth.
What Does Asset Tracing Service Cover?
The service covers all legal aspects of property search. It includes:
- Scanning Public Registries: Studying real estate and business registration history to find traces of hidden assets.
- Tracing Receivables: Gathering info on who owes money to your debtor to seize those funds.
- Vehicle and Equipment Search: Checking registration of cars, machinery, and weapons.
- Subsidiary Research: Uncovering hidden business interests.
- Assisting Enforcement Officer: Providing found information to the National Bureau of Enforcement for effective action.
Real-World Scenarios Where You Need This Service
For example, a debtor company officially went bankrupt, but its director continues the same business under a new LLC using the old machinery. An asset tracing specialist will determine that the machinery was illegally transferred. This is grounds for voiding the transaction and recovering property. Another example: an individual doesn't pay a debt but posts photos from expensive resorts. A specialist will investigate the funding source and discover unofficial income that can be garnished.
Georgian Legal Framework
Asset tracing relies on the "Law on Enforcement Proceedings," giving creditors the right to seek info on debtor assets. However, some info (like bank secrecy) requires a court order. A qualified lawyer knows how to balance freedom of information with data protection laws.
The Process Step-by-Step
1. Order: Client provides debtor info. 2. Desktop Research: Processing databases. 3. Field Research: Visual inspection of property if needed. 4. Report: Listing found assets. 5. Enforcement: Seizing found property.
Why Choose a Specialist on Legal.ge?
Finding hidden property is hard. On Legal.ge, you will find specialists possessing modern investigative technologies to ensure real enforcement of your judgment.
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