International Asset Tracing in Insolvency, 2nd Edition by Felicity Toube | 2025

International Asset Tracing in Insolvency, 2nd Edition by Felicity Toube | 2025

New in this edition:

• Incorporates legal developments up to 2024, including recent advances in cross-border insolvency and asset-tracing initiatives

• Examines significant post-COVID changes to legal frameworks, such as the UK restructuring plan jurisdiction

• Updates the US chapter with the most recent developments in Chapter 15 cases

This book is the only work that offers a thorough examination of the legal issues surrounding asset tracing in insolvency, covering both corporate and personal insolvencies in domestic and cross-border contexts. The second edition reflects recent developments in case law and statutory regimes across six major jurisdictions—the United States, England and Wales, the British Virgin Islands, the Cayman Islands, Jersey, and Guernsey—and explores the latest advances in cross-border insolvency and asset-tracing practices, as well as jurisdiction-specific changes. These include the handling of cryptocurrency insolvencies, post-Brexit legislative developments in the UK, Black Swan injunctions, the impact of the 2024 amendments to the Companies Act, updates on the restructuring officer regime, and current approaches to insolvent trusts. Written by experienced practitioners from leading onshore and offshore financial centres, each chapter focuses on a distinct national legal framework, outlining relevant statutes and case law and identifying the domestic and international mechanisms available for tracing and recovering assets, both within and outside formal insolvency proceedings, including tools for cross-border cooperation.

Table of Contents of International Asset Tracing in Insolvency, 2nd Edition

1:England and Wales - Alex Nelder, James McSweeney, Jerome Squires, Rayhan Langdana

I:Insolvency Law in England and Wales

II:Asset Tracing in England and Wales

III:Criminal Powers

IV:International Enforcement and Assistance

2:USA - Evan J. Zucker, Rick Antonoff

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 - Bruce MacNeil, Oliver Passmore, Charlie Dessain

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 - Mathew Newman, Alex Horsbrugh-Porter

I:Introduction

II:Guernsey Insolvency Law

III:Guernsey Law of Asset Tracing

IV:Conclusion

5:The British Virgin Islands - Brian Lacy, Romauld Johnson

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 - Rachael Reynolds, Gemma Bellfield, Nour Khaleq, Max Galt

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

About The Author:

Edited by Felicity Toube KC, a commercial barrister and Visiting Professor at the University of Oxford, this work benefits from her extensive expertise in insolvency law, particularly in cross-border matters. She has been involved in many major international fraud and insolvency cases, including NMC, Saad, Madoff, Lehman, and Stanford. Felicity also serves as Vice Chair of the International Insolvency Institute, teaches corporate insolvency at Oxford, and is a qualified mediator and arbitrator with leadership roles in international insolvency dispute resolution.

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