REPORT: Trends in Asset Recovery in the United Arab Emirates 2024

J.S. Held’s Inaugural Global Risk Report Examines Potential Business Risks & Opportunities in 2024

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In this annual report, Peter Pender-Cudlip, a Senior Managing Director for J.S. Held’s Global Investigations Practice in London and Dubai, partners with lawyers from Clyde & Co to explain the investigative and legal landscape for asset recovery in the UAE. The topics examined include:

  • Civil Asset Recovery
    • Time frame, admissibility of evidence, and witnesses
    • Deciding in which court to bring a claim for asset recovery
    • Availability of information on assets
    • Cooperating with law enforcement
    • Third party disclosure
    • Offshore vs. onshore jurisdictions
    • Fee arrangements – conditional vs. contingent
    • Obtaining evidence and assisting courts in other jurisdictions
    • Remedies, judgment without full trial, and post-judgment relief
    • Enforcement, funding, and costs
  • Criminal Asset Recovery
    • Interim measures and proceeds of serious crime
    • Confiscation – legal framework and procedure
    • Recovery of costs relating to tracing and confiscation
    • Secondary proceeds, third-party ownership, and expenses
    • Value-based confiscation and using confiscated property to settle claims
    • Burden of proof
    • Using confiscated property to settle claims; confiscation of profits
    • Non-conviction based forfeiture
    • Management of seized assets – what a receiver can and cannot do
    • Cross-border issues in criminal asset recovery
    • Complying with requests for foreign legal assistance
    • Treaties and international conventions that may apply to asset recovery
    • Private prosecutions in criminal asset recovery

Reproduced with permission from Law Business Research Ltd. This report was first published in Lexology GTDT – Asset Recovery 2024.

More About Peter Pender-Cudlip

Peter Pender-Cudlip is a Senior Managing Director in J.S. Held’s Global Investigations Practice in EMEA. He has more than 20 years of experience in global investigations and intelligence gathering. Peter acts for sovereign entities, major corporations, financial institutions, insurers, law firms, insolvency practitioners, and litigation funders providing investigative and asset tracing services on a wide range of matters including commercial and investor state litigation and arbitration, commercial fraud, trade credit insurance claims, insolvencies and restructurings, and other critical corporate issues. Peter, who joined J.S. Held in 2022 as part of J.S. Held's acquisition of GPW, has won a number of awards for Asset Recovery services from Who’s Who Legal, Lexology Client Choice, and Advisory Excellence.

Peter can be reached at [email protected] or +971 4523 2480.

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