Advice provided to two investors were victims of fraud following their purchase of a commercial property. Once judgment was obtained for the client for more than £2m, advice focussed on asset tracing. The Defendant claimed to have no assets. However, through a series of non-party disclosure applications in the High Court, the clients ascertained the whereabouts and value of assets held by the Defendant, totalling more than £1m.
These disclosure applications enabled the clients to obtain disclosure from more than ten third parties including pension funds, banks and the Land Registry. A freezing injunction previously ordered in favour of the clients was extended to cover these assets. This in time resulted in enforcement and recovery of a large proportion of the judgment debt.
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Tenet Compliance & Litigation Limited
Sterling House, 71 Francis Road, Edgbaston, Birmingham B16 8SP
