Chasing assets abroad: Ideas for more effective asset tracing and recovery in <scp>cross‐border</scp> insolvency

نویسندگان

چکیده

Abstract Asset tracing and recovery (ATR) has become highly challenging in the digital age, where, with touch of computer keys, assets can be shifted through multiple jurisdictions within minutes, creating significant challenges for recovering value. While many countries have tools to enable ATR, these differ from jurisdiction often are not recognized across borders a manner that keeps pace need rapid particularly during insolvency. This article takes stock myriad ATR available domestic systems discern parameters key common objectives, features, safeguards, form basis more standardized understanding application such tools. It also explores extent which cross‐border is aided by leading frameworks global, insolvency—the UNCITRAL Model Laws on Cross‐Border Insolvency, insolvency‐related judgments, enterprise groups—in process, revealing gaps uncertainties. Such uncertainties result losses stakeholders affected insolvencies different business sizes but detrimental small medium (SME) where there typically limited resources chase assets. Against this backdrop, proposes ideas enhancement insolvency framework, allow effective access information held abroad, freezing cases,

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ژورنال

عنوان ژورنال: International Insolvency Review

سال: 2023

ISSN: ['1180-0518', '1099-1107']

DOI: https://doi.org/10.1002/iir.1499