International Asset Tracing in Insolvency

This is the only book to provide comprehensive coverage of the legal issues involved in asset tracing in insolvencies. Both corporate and personal insolvencies are covered in domestic and international cases. The second edition incorporates recent developments in case law and statutory frameworks in six key jurisdictions-the United States, England and Wales, the British Virgin Islands, the Cayman Islands, Jersey, and Guernsey. It analyses the latest legal developments in cross-border insolvency and general asset tracing initiatives, as well as jurisdiction-specific developments. Developments include the treatment of cryptocurrency insolvencies, legislative shifts in the UK post Brexit, Black Swan injunctions and the effect of the 2024 amendments to the Companies Act, the latest on the restructuring officer regime, and the positions on insolvent trusts. Featuring analysis from experienced specialists in key offshore and onshore financial centres, each chapter deals with a different national framework, setting out statute and case law, and identifying the international tools available to trace assets. These experts identify the specific tools available for tracing and recovering assets-for asset tracing inside or outside of bankruptcy or insolvency processes-and those available for cross-border international cooperation.

1 - England and Wales
I - Insolvency Law in England and Wales
II - Asset Tracing in England and Wales
III - Criminal Powers
IV - International Enforcement and Assistance
2 - USA
I - Introduction
II - Overview of US Insolvency Law
III - US Laws Relevant to Asset Tracing & Recovery
IV - Recovery of Cryptocurrency in Bankruptcy Proceedings
V - Conclusion
3 - Jersey
I - Introduction
II - Overview of Jersey Insolvency Regimes
III - Powers and Duties of Insolvency Officeholders
IV - Basic Tools for Domestic and International Asset Tracing in Insolvency
V - Court Orders Generally Available for Asset Tracing
VI - Jersey Law of Asset Tracing (Including Trusts and Restitutionary Remedies)
VII - Conclusion
4 - Guernsey
I - Introduction
II - Guernsey Insolvency Law
III - Guernsey Law of Asset Tracing
IV - Conclusion
5 - The British Virgin Islands
I - Chapter Overview
II - Sources of BVI Law, the Legislative Framework, and the Definition of Assets
III - BVI Insolvency Act Processes
IV - Orders in Aid of Foreign Proceedings under the Insolvency Act 2003
V - Processes and Procedures under the BVI Business Companies Act 2004
VI - Disclosure of Documents, Evidence by Deposition, and Letters of Request
VII - Interim Remedies and Piercing the Corporate Veil
VIII - Asset Tracing and the Proceeds of Crime
IX - The BVI Law on Asset Tracing Outside Specific Insolvency Provisions
X - Enforcement of Foreign Judgments and Arbitration Awards
XI - Conclusion
6 - Cayman Islands
I - Introduction
II - Cayman Island Legal System; Sources and Precedent
III - Cayman Islands Procedure
IV - Cayman Islands Company Law
V - Cayman Islands Corporate Insolvency Regime
VI - Statement of Affairs: Duties of Cooperation: Examination
VII - Actions in Insolvency Proceedings
VIII - Foreign companies
IX - Financial Restructuring/Schemes of Arrangement
X - Recognition and Enforcement of Foreign Judgments in the Cayman Courts
XI - Personal Bankruptcy: Recognition of Foreign Trustee in Bankruptcy
XII - Cross-border Insolvencies
XIII - Asset Tracing: Locating Assets: Identifying Ownership
XIV - Practicalities of Asset Tracing in the Cayman Islands
XV - Recalculation of Published Net Asset Values and Clawback
XVI - Interlocutory Injunctions: Asset-Freezing: Disclosure Orders
XVII - Conclusion

Felicity Toube KC is a commercial barrister specializing in insolvency, particularly in cross-border issues, in relation to which she also frequently acts as a court-appointed expert. She has taken roles in all the recent major corporate frauds and insolvencies including NMC, Saad, Madoff, Lehman, and Stanford. Felicity is a Vice Chair of the International Insolvency Institute, and Visiting Professor of Practice at the University of Oxford, where she teaches on the Corporate Insolvency and Commercial Mediation courses on the BCL. Felicity is also an ADR Group Accredited Civil & Commercial Mediator, an accredited Arbitrator by CiArb, and is Co-Chair of the INSOL ADR Colloquium.