Fortior Law (UK) LLP https://fortiorlaw.com authorised by the Solicitors Regulation Authority, specializes in conducting litigation in England and Wales, particularly in the Commercial Court in London.
Our Expertise
We manage complex multi-jurisdictional disputes, focusing on areas such as commodity trading, finance, shipping, shareholder disputes, and civil fraud. Our team has cultivated strong working relationships with barristers from various chambers, including top-tier options and more cost-effective alternatives.
Importance of Enforcement Strategy
Before initiating proceedings, it's crucial to consider enforcement strategies. Without this, you risk investing significantly in litigation or arbitration only to find that, despite having a judgment, you cannot actually recover any money from your opponent.
This article begins by outlining the steps to take before commencing proceedings and then discusses the post-award/post-judgment enforcement mechanisms available in England and Wales.
Identifying Assets
Locate Your Opponent’s Assets: Before starting legal action, identify your opponent's assets. In some cases, this is straightforward; you may know where they operate, where their funds are, their goods, or their trading partners. However, it can be challenging if your opponent is a small company in an opaque jurisdiction with minimal internet presence.
Initial Steps:
- Google Search: A simple search can reveal if your opponent is involved in lucrative transactions or has a history of defrauding others. This information can give you insights into their current activities and financial health.
- Market Inquiries: Ask around in the market about your opponent. Is the company well-known? Does it have a reputation for disputes? You may find others who have had issues with them, or learn about ongoing criminal or insolvency proceedings that could give you access to internal documents revealing their financial state.
These databases compile information from national corporate registries, providing comprehensive details about company structures, directors, accounts, and UBOs. If you lack access, consult your legal advisors.
National Corporate Registries: Depending on the jurisdiction, you can access national corporate registries, which are often free. For example, the UK’s Companies House provides incorporation dates, company status, significant control details, and filed accounts.
Engage Intelligence Agencies: Consider hiring reputable intelligence agencies. Agencies like Team Savante can legally gather significant information. If focusing on a specific region, look for agencies specializing in that area, which might be more cost-effective than international teams.
Specialist Agencies: Use agencies that specialize in in-depth internet research or relationship mapping via social media and closed databases. For instance, Grey List Trace can locate bank accounts using email addresses by bouncing them against spam filters of numerous banks worldwide. They can also identify email exchanges between individuals, useful in criminal proceedings.
Conclusion
Careful pre-proceeding asset identification and an effective enforcement strategy are essential for successful litigation or arbitration. By leveraging thorough research and expert assistance, you can enhance your chances of winning and recovering the owed money from your debtor.
