The debtor has hidden assets — can I get them back through a creditor's revocation lawsuit?

I understand you have inquired about a creditor's revocation lawsuit.

As in the situation you described, when a debtor does not repay a debt to a creditor while transferring assets to family members, etc., a "creditor's revocation lawsuit" can be pursued.

Through this, the asset disposition can be made void, and compulsory execution can be made possible.

This lawsuit corresponds to the exercise of the "creditor's right of revocation" under Article 406 of the Civil Act.

This is a system in which, when a debtor performs an act that reduces their own assets (fraudulent act) while knowing that it will harm the creditor, the creditor petitions the court to revoke that act and recover the debtor's liability assets.

In other words, it has the effect of pulling back hidden assets and including them in the targets of compulsory execution.

For this lawsuit to be recognized, the following three requirements must be met, and if even one is missing, the claim may be dismissed.

1. Existence of the claim to be preserved
2. Existence of fraudulent act
3. "Bad faith" of the debtor and beneficiary

To file a creditor's revocation lawsuit, the suit must be filed within 1 year from the day you became aware of the cause for revocation, and within 5 years from the day the legal act took place.

Gifts among family members, sales at undervalued prices, sudden name changes, etc., have a high possibility of being recognized as fraudulent acts.

However, since creditor's revocation lawsuits have many complex issues, it appears good to receive assistance from a specialist attorney to prepare the lawsuit.