Tracing assets in international insolvency: what can be investigated and what requires authorization

Find assets It's not the same as recovering them

In insolvency proceedings , the apparent lack of assets can conceal complex transactions, transfers to third parties, or assets located in other jurisdictions. Investigating these circumstances requires distinguishing between locating an asset , ensuring it does not disappear, and obtaining its restitution or realization in accordance with the law . In July 2025, UNCITRAL adopted resources on tracing and recovering assets in insolvency proceedings, as reported in its official communication . This issue is particularly relevant for creditors and Dominican companies with cross-border operations.

Start from documents and a verifiable hypothesis

Tracing must be based on lawfully obtained information : accounting records, contracts, public records, authorized transactions, and procedural documentation . A suspicious transfer requires reconstructing dates, participants, consideration, and destination, without concluding that fraud is proven solely based on the existence of a related company . UNCITRAL's official notes on tracing and recovery offer a comparative reference; they do not replace evidence or the law applicable to each transaction.

Locating, immobilizing, and claiming have different requirements.

Knowing the location of a property or account does not automatically grant the power to seize it. Preservation measures and recovery actions depend on the competent court, the type of asset, and the grounds for the request. If the asset has been transferred to a third party, the rights of that acquirer and the rules for challenging the transaction must also be examined. An effective strategy identifies from the outset the desired outcome and which authority can order it.

The problem of assets in another country

When information or assets are located outside the Dominican Republic, judicial cooperation, recognition of the proceedings, or local actions in the destination jurisdiction may be necessary. A national order does not necessarily have the same effect worldwide. The available mechanisms and evidentiary requirements of the requested country must be reviewed. Coordination among professionals helps avoid conflicting requests and allows action to be taken before the cost of the proceedings exceeds the reasonably recoverable value.

Privacy, confidentiality and limits of research

The UNCITRAL notes examine confidentiality measures and disclosure restrictions that can prevent the obstruction of an investigation, subject to the conditions of applicable law. This does not grant a creditor unlimited access to bank details, private emails, or computer systems. The necessity and proportionality of the measures, the possibility of review, and the protection of third parties remain relevant. Obtaining information through unauthorized access can give rise to liability and compromise its use in legal proceedings.

How to file a responsible claim

The creditor must retain the documents that prove their claim and provide concrete evidence regarding the assets or transactions they wish to examine. The professional in charge must assess competence, urgency, costs, and the likelihood of recovery, distinguishing facts from suspicions. These 2025 international tools are guidelines, not a universal authorization to investigate or freeze assets. Their usefulness lies in organizing the analysis and comparing solutions, while specific actions must comply with the regulations in force in each jurisdiction.