Define: Asset Recovery

Asset Recovery:

Noun

1. The process of identifying, locating, and reclaiming assets that have been lost, stolen, or misappropriated, typically involving financial resources, properties, or other valuable possessions.

2. A legal and financial procedure undertaken by individuals, businesses, or government entities to recover assets that have been fraudulently obtained, embezzled, or hidden, often through the assistance of specialized professionals or agencies.

3. The act of recovering or salvaging the value of distressed or non-performing assets, such as bad loans, non-performing investments, or obsolete inventory, through various strategies such as restructuring, refinancing, or selling to maximize their value and minimize losses.

4. A field of expertise within the financial industry that focuses on the recovery of assets in bankruptcy cases, insolvencies, or other financial crises, aiming to protect the interests of creditors and stakeholders by maximizing the return on their investments.

5. The process of recovering assets from individuals or organisations involved in illegal activities, such as money laundering, corruption, or organized crime, often carried out in collaboration with law enforcement agencies and regulatory bodies to dismantle criminal networks and restore the assets to their rightful owners or the public.