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Q
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Is a lawsuit for revocation of a fraudulent act quite difficult? When I pressed an acquaintance who borrowed money from me a few years ago to repay it, he appears to have siphoned off his assets. When I looked into it, I found that if I proceed with a lawsuit for revocation of a fraudulent act, I may be able to trace the assets and recover them. Would it be very difficult to proceed with this on my own? Or is it a lawsuit for which I must retain an attorney?
Fraudulent act
Lawsuit for revocation of a fraudulent act
Answer
Published:
Author : Kuk Il KIM
I understand that you are inquiring about a lawsuit for revocation of a fraudulent act.
A lawsuit for revocation of a fraudulent act is a lawsuit that nullifies an improper disposition by a person who has siphoned off assets and seeks to recover those assets.
Mainly, in order for a debtor to avoid repaying a debt, this lawsuit is needed where the debtor transfers his own assets to a third party.
A lawsuit for revocation of a fraudulent act can, in itself, be a complex and difficult lawsuit.
This is because, in order to file the lawsuit, you must prove that the other party intentionally siphoned off his own assets.
This can be difficult because, in many cases, evidence is lacking or the other party hides or conceals the assets.
It is important to prove the records of the acquaintance concealing assets or disposing of them to another person.
In addition, unlike a simple debt-collection lawsuit, a lawsuit for revocation of a fraudulent act requires you to prove that the disposition of the assets was unlawful, so it can be said to be a procedure that requires legal skill and experience.
Furthermore, a lawsuit for revocation of a fraudulent act must be filed within a certain period.
In general, from the day the fraudulent act becomes known, within one year, and from the day the fraudulent act took place, within five years, the lawsuit must be filed.
If you miss this point in time, revocation may become difficult, so you must also consider the time constraints.
For these reasons, receiving the help of an attorney is very important.
An attorney can help gather the evidence needed for a lawsuit for revocation of a fraudulent act and can proceed with the lawsuit by establishing a legal strategy.
Therefore, rather than proceeding with this lawsuit on your own, it is advisable to retain an attorney specializing in civil matters.

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