DUE DILIGENCE SERVICES
ILR Services offer due diligence services to clients who propose to take on potential clients. Clients may be proposing to enter into a joint venture situation. This is especially where clients are considering operating internationally where their business may not be adequately protected by contract law. In addition, where our clients success is heavily dependant on trust or good faith.
We can provide you with intelligence on a confidential basis about the potential client or business associate you are about to do business with. We would look at issues such as:
Previous business practices
Civil or criminal history
Media attention they may have received
Current assets and liabilities
Often, it is when you are about to undertake business dealings with individuals or other businesses that questions or concerns arise.
It is at this point that we can assist. We do this by undertaking the necessary inquiries or searches to answer your questions without jeopardising the negotiations.
Asset & Liability Check
ILR Services undertakes asset and liability checks to provide our clients with valuable information required. This allows clients to make an assessment of the likelihood of recovery in the event of civil litigation or criminal proceedings.
We highly recommend to our clients that such asset and liability checks are also undertaken at the onset of business dealings as part of the due diligence process. If business dealings lead to financial loss as a result of fraud or trickery, litigation can prove costly and difficult. In addition, often futile as the defendant turns out to have little or no assets.
Our role is investigating the perpetrator to assess the likelihood of recovery. Firstly, in undertaking the asset liability check we undertake the 'normal' searches. Secondly, we place ourselves in the position of the perpetrator. This allows us to determine the possible means by which they mask the true ownership of assets sought.
We start to collate information during our investigation. Once all the perpetrator's reasonably identifiable assets have been located, our focus will then shift from investigation to litigation. It is at this point that we assess the appropriate means of recovery of assets.
We can also consider the effective use of a Mareva Injunction order. We must show good cause. In addition, the serious risk that the party will either hide or dissipate the assets to avoid the judgement ultimately obtained.
We consider that asset and liability checks should be utilised:
Prior to embarking on business dealings
Prior to issuing proceedings, negotiating a settlement, or settling a claim
Default debt
Money laundering investigations
Divorce or settlement disputes
Background Enquiries
We recommend to conduct a background inquiry whenever embarking on a business relationship. This is especially where trust is a must. A party to a business dealing is key to the business venture. Therefore, their character and financial integrity paramount to its success.
The integrity of a company heavily relies on the integrity of individual directors. A prudent investor or entrepreneur will check the credentials of both current directors and prior directors. This establishes a history of the company.
Employers take on employees largely on trust. When offering key positions, they are well advised to undertake a background inquiry.
Undertaking a background inquiry is common when embarking on personal relationships. The parties' interest can be significant when genuine concerns arise. The background check is useful to provide peace of mind when parents have concerns regarding their children's new friends or associates.
To conduct a background inquiry, we ask that you provide us with all relevant information known about the subject. This includes both financial and personal, no matter how insignificant it may seem at the time.