Civil proceedings brought by the state are one mechanism to recover the proceeds of crime, or to claim compensation for corrupt acts: as discussed in our previous post Recovering the proceeds of corruption: an overview.
Typically, substantial corruption cases are international in scope and the proceeds of a corrupt transaction are often laundered through and to countries other than the victim state. This international context means that (1) there are a number of countries in which civil claims can be made; and (2) corrupt assets may be located in multiple countries. It is normally inefficient and costly to bring proceedings in each of those jurisdictions. Instead it is often preferable to make a single claim leading to a judgment which can successfully be enforced in each country where assets are located.
The English courts are an attractive jurisdiction for civil asset recovery cases, as they offer judgments which are enforceable and respected in many foreign countries. Cooley’s briefing “International enforcement of English asset recovery judgments” outlines and discusses the various routes to enforcement of an English judgment abroad. It is available here.
Welcome to our blog.
Cooley has a proven team representing states and companies seeking to trace, freeze and recover the proceeds of corruption or fraud, or obtain compensation for corrupt or fraudulent acts.
We assist states to:
- Recover stolen public funds, bribes and compensation for corruption from dishonest public officials, their companies, trusts, and associates;
- Make claims for compensation against contractors that have paid bribes to win contracts or gain other advantages (and we advise on the termination or renegotiation of tainted contracts);
- Make claims to recover assets or compensation against third parties which knowingly handle the proceeds of corruption, or assist in the laundering of it;
- Use insolvency remedies to take control of companies used to receive or launder the proceeds of corruption
We have worked internationally on some of the most innovative and successful claims to recover the proceeds of corruption and, in addition to cases in our own jurisdictions, have assisted states to formulate and implement international asset recovery strategies taking into account the complex practical and legal issues that arise in cases involving multiple countries.
We also help companies or individuals that have suffered fraud or theft to recover assets, or to make claims against the principal wrongdoers or those that have assisted them.
This blog will discuss key issues in the field of asset recovery and claims arising from corruption. We hope our blogs are enjoying, interesting and insightful.