Insolvency practitioners are increasingly required to operate in complex, high-risk environments where assets may be deliberately concealed, transferred or obscured through sophisticated structures. Identifying and recovering those assets is central to maximising returns for creditors and fulfilling statutory duties.

Professional people tracing and asset tracing services play a critical role in modern insolvency investigations. By uncovering hidden assets, locating key individuals and establishing ownership and control, tracing services provide insolvency practitioners with the intelligence needed to make informed decisions and pursue effective recovery strategies.

The asset recovery challenge in insolvency

Asset recovery is one of the most challenging aspects of insolvency appointments. In many cases, practitioners encounter:

• Incomplete, inaccurate or misleading company records
• Uncooperative or absconded directors
• Assets transferred prior to insolvency
• Complex corporate, trust or offshore ownership structures

As financial misconduct becomes more sophisticated and assets more mobile, reliance on standard searches alone can leave material gaps. Specialist tracing investigations help close those gaps by providing a deeper, evidence-led understanding of asset location and movement.

What is people tracing?

People tracing involves locating individuals whose whereabouts are unknown or intentionally concealed. In an insolvency context, this often includes:

• Directors and former directors
• Shareholders and beneficial owners
• Debtors and guarantors
• Connected or associated parties

Effective people tracing supports statutory investigations, examinations, service of proceedings and enforcement actions. It can also assist in establishing patterns of behaviour and relationships relevant to insolvency and misconduct investigations.

What is asset tracing?

Asset tracing focuses on identifying, locating, and evidencing assets that may not be disclosed or immediately visible. These can include:

• UK and overseas property
• Accounts and financial instruments
• Business interests and shareholdings
• High-value personal assets
• Digital assets, including cryptocurrency

Professional asset tracing goes beyond surface-level searches, using investigative methodologies, specialist intelligence sources and analytical techniques to build a defensible picture of asset ownership, control and movement.

Why asset tracing is critical for insolvency practitioners

Tracing services are particularly valuable where there is suspicion of asset dissipation, concealment or misconduct. Early access to reliable intelligence can help insolvency practitioners:

• Identify undisclosed or hidden assets
• Understand pre-insolvency asset transfers
• Establish beneficial ownership and control
• Prioritise recovery and enforcement action

This intelligence often informs decisions relating to litigation, settlement, funding and the pursuit of antecedent transactions such as preferences or transactions at undervalue.

Practical uses of tracing in insolvency appointments

People and asset tracing can support insolvency practitioners at various stages of an appointment:

Asset identification and recovery

Tracing investigations help identify assets omitted from statements of affairs or deliberately placed beyond reach, allowing practitioners to assess recovery potential early.

Director and debtor tracing

Locating individuals is essential for interviews, examinations and statutory processes, particularly where directors are evasive or based overseas.

Litigation and enforcement support

Asset intelligence underpins recovery actions, enforcement strategies and applications for freezing or disclosure orders.

Cross-border insolvency matters

Where assets or individuals are located outside the UK, specialist tracing expertise can help navigate jurisdictional complexity and support international recovery efforts.

Evidential value in civil and insolvency proceedings

A key advantage of professional tracing services is the evidential quality of the findings. Intelligence gathered through structured investigations can be used to:

• Support legal advice and recovery strategy
• Prepare reports for creditors and the court
• Assist solicitors and counsel in litigation
• Inform negotiations and settlement discussions

When conducted correctly, tracing investigations provide insolvency practitioners with reliable, defensible intelligence suitable for use in civil proceedings and regulatory contexts.

The benefits of using specialist tracing services

Engaging specialist investigators offers insolvency practitioners:

• Access to advanced intelligence sources
• Objective, independent findings
• Time and cost efficiencies
• Reduced risk of missed recovery opportunities

By outsourcing tracing to experienced professionals, insolvency practitioners can focus on their statutory and commercial responsibilities while ensuring asset recovery efforts are thorough and proportionate, enhancing recovery prospects and delivering better outcomes for creditors and stakeholders.

People and asset tracing services from ESA Risk

When it comes to supporting insolvency practitioners with complex investigations, ESA Risk provides expert people and asset tracing services designed to deliver clarity, confidence, and actionable intelligence. Our experienced investigators produce concise, evidence-led findings that help you assess recovery prospects, inform strategy and determine the most effective next steps.

With access to specialist intelligence sources and a trusted global network, ESA Risk is well placed to support domestic and cross-border insolvency matters, even where assets or individuals are deliberately concealed.

To instruct us on an investigation or to find out more about our people and asset tracing services, contact our Client Services team, at advice@esarisk.com on +44 (0)343 515 8686, or via our contact form.