Sunny Places for Shady UK Criminals – Management Receivership Assets in Spain

  • Commercial Litigation

As globalisation of our society continues to gather pace Management Receivers are having to grapple with different legal systems as they attempt to trace and then recover assets in foreign jurisdictions.

Since the 1960’s Spain has been a known favourite for many UK criminals trying to escape the clutches of the long arm of the law.

Accordingly it comes as no surprise that the Home Office has announced that the UK organised crime minister and Spanish security minister met in Madrid in early 2014. The focus of this meeting was to agree how the two countries could co-operate more closely with one another in the recovery of financial assets from fugitive defendants.

In particular the UK and Spanish Governments will be seeking to enhance cooperation in confiscation cases with the Crown Prosecution Service specialists based in Spain.

The Home Office has also revealed that more UK criminal’s assets are thought to be in Spain than in any other EU country. Accordingly now more than ever it’s paramount that Management Receivers are able to quickly register their judgments abroad and enforce the same to prevent assets being dissipated.

Spanish Realisations

A major frustration for Management Receivers comes from the delay in obtaining a recognition order thereby  delaying the enforcement stage which places assets at risk.

A Management Receiver might be thinking:

  • The Spanish Courts are slow. The judgment will never be registered in time; and
  • border realisations are prohibitively expensive.

We at Summit Law LLP have a proven method of registering judgments fast by utilising European law along with our specialist lawyer agents in Spain ensuring a swift and effective realisation of Spanish assets. We have also used other methods to expedite the process by liaising with the Spanish Land Registry.Why not take a look at our flow diagram which describes some of the stages required to recognise Management Receivership Orders in Spain by clicking here.

Our Unique Service

We offer:

  • A Spanish speaking senior partner who will supervise the process of recognising the English court order in Spain and the realisation of Spanish property;
  • Spanish speaking notaries with sound knowledge of the Spanish legal process;
  • A Spanish Official Judicial Translator;
  • Specialist lawyers in Spain;
  • English valuers and property consultants based in Spain; and
  • Central London offices based minutes from the Royal Courts of Justice and Foreign and Commonwealth Office (“FCO”).

We have assisted Management Receivers in applying for recognition of English judgments and our specialist lawyers, valuers and agents in Spain can also advise on the sale and possession of Spanish real property.

For further information please click here to send an enquiry and we will contact you within 24 hours or otherwise why not contact our insolvency and foreign enforcement team on 0207 467 3980.