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Overcoming Asset Protection Devices

Invariably there are five cornerstones to a well-constructed asset protection device that includes one or all of the following legal concepts:

• Offshore asset protection trust
• Exempt company or international business corporation
• Structuring
• Multi-jurisdictional nature
• Protection of confidential information by statute

Many jurisdictions put up seemingly insurmountable walls around bank, trust and company secrets, despite the fact that such walls often are used to block law enforcement or creditors from pursuing appropriate legal remedies. By manipulating information, obligors can hide the origin of the assets and cloud the connection between the assets and the dishonest obligor. The ability of an obligor to cross international borders with ease also compounds the problem of recovery.

IPSA International’s careful deconstruction of these types of devices always involves attacking one or more of the five cornerstones and showing a connection between the underlying offense and the assets that have been discovered.

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