Sequestration and Confiscation of Illegal Assets in Kosovo: The role of the Agency for the Administration of Sequestrated and Confiscated Assets and the importance of the sale of sequestrated assets before final court decision.
Session
Law
Description
As the main objective of the Agency is to become a ‘center of excellence’ in the administration of sequestrated and confiscated assets, its mission, role and responsibilities are needed to be clear and therefore properly elaborated. This is important especially when taking into account that the Agency bears responsibility for the preservation and administration of sequestrated and confiscated assets entrusted to its care by the competent authority and it performs its functions in order to provide profitable and professional asset management and conducts its work with integrity and transparency.
The purpose of this paper is to elaborate the sequestration and confiscation of assets in Kosovo as it is foreseen in the relevant legislation: the Criminal Code, the Code of Criminal Procedure; Law on expanded powers for confiscation of assets and Law on the administration of sequestrated and confiscated assets.
The procedures for acceptance, evaluation, preservation of the value of the sequestrated and confiscated assets, as well as the sale as a way of preserving the value of such assets will also be presented. In cases where we are dealing with extraordinary administrative expenses such as: cars, products or other assets that are likely to deteriorate or lose value, there are interim sales applications which should be considered before the confiscation order is issued. The purpose here is to ensure that we have the maximum value available for forfeiture upon conviction.
The use of confiscated assets for social purposes is also important, which part will take place in my paper, without leaving aside the local and international cooperation in terms of sequestration, confiscation and administration of assets.
Keywords:
sequestration, confiscation, asset, evaluation, preservation.
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-550-50-5
Location
UBT Kampus, Lipjan
Start Date
29-10-2022 12:00 AM
End Date
30-10-2022 12:00 AM
DOI
10.33107/ubt-ic.2022.249
Recommended Citation
Sutaj, Alban, "Sequestration and Confiscation of Illegal Assets in Kosovo: The role of the Agency for the Administration of Sequestrated and Confiscated Assets and the importance of the sale of sequestrated assets before final court decision." (2022). UBT International Conference. 255.
https://knowledgecenter.ubt-uni.net/conference/2022/all-events/255
Sequestration and Confiscation of Illegal Assets in Kosovo: The role of the Agency for the Administration of Sequestrated and Confiscated Assets and the importance of the sale of sequestrated assets before final court decision.
UBT Kampus, Lipjan
As the main objective of the Agency is to become a ‘center of excellence’ in the administration of sequestrated and confiscated assets, its mission, role and responsibilities are needed to be clear and therefore properly elaborated. This is important especially when taking into account that the Agency bears responsibility for the preservation and administration of sequestrated and confiscated assets entrusted to its care by the competent authority and it performs its functions in order to provide profitable and professional asset management and conducts its work with integrity and transparency.
The purpose of this paper is to elaborate the sequestration and confiscation of assets in Kosovo as it is foreseen in the relevant legislation: the Criminal Code, the Code of Criminal Procedure; Law on expanded powers for confiscation of assets and Law on the administration of sequestrated and confiscated assets.
The procedures for acceptance, evaluation, preservation of the value of the sequestrated and confiscated assets, as well as the sale as a way of preserving the value of such assets will also be presented. In cases where we are dealing with extraordinary administrative expenses such as: cars, products or other assets that are likely to deteriorate or lose value, there are interim sales applications which should be considered before the confiscation order is issued. The purpose here is to ensure that we have the maximum value available for forfeiture upon conviction.
The use of confiscated assets for social purposes is also important, which part will take place in my paper, without leaving aside the local and international cooperation in terms of sequestration, confiscation and administration of assets.