Our Asset Accumulation Report is an excellent decision-making tool for lawyers and their clients as it can provide answers prior to launching the action, entering into settlement negotiations or satisfying the judgment.
Determining the defendant's assets can be valuable information when preparing for an Examination in Aid of Execution and for Discovery.
What Assets Can We Identify?
Real Property: Locate real property assets, identifying fraudulent conveyances and spousal property
Personal Property/ Motor Vehicles: Identify personal property, including motor vehicles, equipment, goods, inventory, and accounts
Business Interests/ Affiliations: Locate debtor's/ defendant’s business interests. We often find co-debtors and co-defendants that link debtor/defendant to other companies and businesses
Bank Accounts: Identify banking relationships, which can be useful for garnishment during the debt recovery process
Rents: Identify this form of income
Wages: Locate the debtor's/defendant’s place of employment and salary which will assist with garnishment of wages
What Liabilities Can We Identify?
Tax Liens: Locate tax liens, including PST, Corporation Tax, RST, HST and GST
Collections: Establishing history of collections identifies both debt and repayment history
Pending Legal Actions/Judgments: Identify pending legal actions, judgments and particulars that will be significant in determining the probability of debt recovery
Credit Card Balances: Determine credit card debt
Secured and Unsecured Borrowing Facilities: Identify term loans and operating lines
Mortgages: Confirm registered mortgages and executions on real property
Bankruptcies, Consumer Proposal and Receiverships: Determine recent filings and particulars through the Superintendent of Bankruptcy