PRODUCT INFO | Use this service before, after or during litigation to ensure that you are not suing a person “of straw”. This product allows you to dig deeper into your opponent’s assets to see if they can pay any resulting judgment and/or costs order that will result from your litigation.
Too often in Shergroup we have seen people who have “won” a court judgment for a money claim, only to find that the judgment debtor has no assets, and worse is insolvent. The person with the benefit of the judgment, (the judgment creditor) is left picking up the tab for the costs of his own legal advisors and the loss of the value of the judgment.
This service is designed to put you in the driving seat on whether the person you are going to sue is really worth the investment.
Before embarking on expensive litigation, our Asset Trace Report will confirm what assets we can find for your opponent. We encourage our clients to do this upfront and before they issue their claim. That said, the product can be used during litigation, in particularly intense and long-term proceedings, to keep an eye on the opponent’s asset status.
Once a judgment has been obtained, an Asset Trace Report will shine a light on the best methods of enforcement to utilise to recover a judgment debt, costs, interest, and enforcement charges.
As enforcement experts, we think a Writ of Control is an ideal way to pursue a Judgment Debt, particularly in large value claims, because as High Court Enforcement Officers we can look for goods which can be secured and ultimately sold to pay the amount due.
A Writ of Control will secure the judgment over goods and can be combined with a Charging Order over a house or other land and buildings. Bank accounts, director salaries, and share portfolios can all be highlighted in the deep dive into a person’s assets.
The report will also look at corporate assets and associations, hidden assets, and assets connected to individuals and corporate entities.
An Asset Trace Report becomes part of the enforcement strategy for any successful party and we can assist with all the available methods of enforcement through our sister legal company – Shergroup Legal.