IN emerging markets – particularly in Central and Eastern Europe – non-performing loans (NPLs) are a serious risk to the health of banks and national economies.

Taking advantage of its regional expertise, its networks of local contacts and practiced skills in asset tracing, GlobalSource has developed a unique program that doesn't just trace assets, but actually recovers monies owed to banks or creditors. We work closely with our clients to ensure that the information we gather can be acted upon and lead to recovery. in addition, this sends a broader message to the market in general.

International networks of contacts in law enforcement and the legal profession, in the financial industry and the media, allow GlobalSource to craft customized programs to search and recover assets in far-flung jurisdictions.

Tracing assets is only one piece in the puzzle. GlobalSource’s resources and experience give us an edge in locating the hidden assets for our clients, and then moving into a full recovery strategy tailored to your needs. Our methods include enlisting local attorneys to enforce compliance with foreign judgments and adding wide press coverage to keep the pressure on the debtor and make it difficult for him to restructure his company or liquidate hidden assets.

 

A few case samples

  • GlobalSource identified significant assets owned by a Ukrainian debtor in Israel. After documenting the chain of ownership, we worked closely with our client, liaised with legal counsel in Israel, and also informed local and international media – all to put additional pressure on the debtor. We were successful in winning an injunction against the debtor that prevented him from selling his assets or changing his corporate structure.

 

  • We developed a confidential informant close to a target debtor who helped us to understand the nature of a fraud committed, to identify accomplices and locate assets. The debtor was pleading bankruptcy but we clearly demonstrated this was merely a cover while he tried to change corporate structure. After more than seven years of avoiding his multi-million dollar debt obligations, the intelligence gathered by GlobalSource allowed our client to pressure the debtor into a settlement.