Why have you contacted me ?

 

Normally when we contact someone it is because we have reason to believe he or she is entitled to benefits issuing from unclaimed assets.

Frequently Asked Questions

 

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Where are these unclaimed assets?
 

Unclaimed assets are held by various levels of government, public organizations, private companies and individuals throughout the world.

What makes you believe that I am entitled to these unclaimed assets?
 

Discovering unclaimed assets and heirs is a large part of our business. Typically our company only contacts a potential beneficiary after we have completed extensive research to identify the assets, locate the beneficiaries, and prove that they are likely entitled.

Mondex specializes in helping beneficiaries with the recovery of a range of unclaimed assets, including estates and fine art that was looted from families during the Second World War. 

 

Whereas some clients seek out our help, we also contact persons in the course of our investigations. Here are a few of the questions we are most often asked by new clients.

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How much does this service cost? 
 

We offer our services either on an hourly basis or on a contingency basis.  When we offer our services on a contingency basis, which many people prefer, we are only paid if and when we recover assets for you, and we are only paid from the assets that we help you recover. The amount of our commission is calculated on a percentage basis of the funds recovered and is outlined in our agreement.  When our compensation is paid on an hourly basis we are paid an hourly fee regardless of the outcome of the case, however we find that many of our clients prefer the comfort of a contingency fee agreement as Mondex assumes all of the financial risk in such matters and advances all of the costs it deems necessary in order to arrange a successful recovery.

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Can I involve my attorney ?

 

Yes, if you feel more comfortable dealing with us through your attorney you are welcome to do so.  Under those circumstances it is understood, of course, that you will be responsible for your attorney’s fees, regardless of the outcome of the case.  You may want to involve your attorney in the entire progress of your case or only in the initial stages – for example, by having him or her review our agreement.  The choice is yours.  If you want to have our legal personnel handle your affairs there is no financial commitment required: we will deduct our fees entirely from the assets that we recover on your behalf - if there is no recovery, there is no charge to you.

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Can you disclose to me all of the information you have about the “unclaimed assets” now ?
 

As you may appreciate, our firm often expends a considerable amount of time, effort, and expense investigating unclaimed property matters like yours.  In order to protect the investment we have made and the information we have gathered we first complete a formal agreement with our clients and then disclose additional details of the relevant assets.

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What are unclaimed assets ?

 

Unclaimed assets take many forms including dormant bank accounts, estates, stocks, bonds, dormant trust accounts, land, buildings and may also include assets looted in Europe during the Second World War.

How long will it take to resolve my case?
 

Every file is unique and time frames for resolution vary greatly.  Normally, however, once we have received all of the necessary documents, cases can take anywhere from two years or more to complete, however some cases can take longer.  Throughout the process we endeavor to update clients about the status of their cases on a periodic basis so you will be well-informed of our progress.

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Who may I speak with to verify who you (Mondex Corporation) are?

 

You are free to contact any one of the attorneys with whom we deal.  In addition correspondence from previous clients is also available from us upon request.  With their permission, excerpts from some of these letters are reproduced in the section on Testimonials.

How long will it take to recover my family's looted artworks?

 

In some instances we are quite fortunate and able to locate our clients’ works of art relatively quickly; however this is only a first step which can take anywhere from a few weeks to several years.  Once a work of art is located, the resolution of any dispute over ownership may also be resolved quickly and efficiently, or may involve extensive court or tribunal hearings.

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Looted Art Restitution FAQ
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Estate Restitution FAQ
How will Mondex keep me apprised of the progress of their work?

 

Usually Mondex updates its clients once every six months as to the status of their case, and can provide an update upon the request of the client.  This helps us manage our time so that we can focus our time and energy working to successfully recover important works of art for our clients.

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What will happen when Mondex locates a work of art belonging to my family?

 

Once a work of art has been located we then need to conduct the necessary provenance research, typically in several different countries in order to prove conclusively that the works of art, in question, belong to our clients.  We then compile all of the evidence found and once this step has been completed, assuming that no pressing statutory deadlines are applicable, we contact the possessor of a given work of art to request its return.  In some instances the possessor may be cooperative and the work of art is returned amicably.  In other instances litigation or other procedures may be necessary and in such circumstances Mondex conducts the necessary production of documents, claims and oversees the proceedings.

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How much will the recovery process cost?

 

In some instances Mondex is retained on an hourly basis where Mondex is paid for its time regardless of the outcome of its research findings and recovery efforts.  In other instances Mondex charges a contingency fee applicable only once Mondex helps its clients recover a work of art.  In contingency matters Mondex typically charges a fee of approximately forty percent.  In contingency arrangements Mondex advances the costs necessary to help with the recovery, so that our clients are never out-of-pocket for expenses.

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If Mondex recovers a work of art for my family and my family wishes to keep it, then how can this be arranged?

 

In instances where some or all of the family wish to keep a work of art that Mondex helps recover, then the value of the artwork will be estimated by one or more appraisal experts, typically one of the larger international auction houses, and then Mondex’s fee is based upon the value of this estimate.

 

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If my family wishes to sell a work of art that has been recovered by Mondex then what are the next steps involved to sell it, and when would my family receive its share of the proceeds?

 

In some instances a work of art can best be sold through an international auction house or highly reputable dealer.  In both cases Mondex will contact the prospective sales agent, and will oversee the details of the sale.  Mondex has negotiated preferential terms with a number of international auction houses and dealers.  Typically funds are received by Mondex within approximately thirty days of the sale and then forwarded to the client shortly thereafter, typically within two weeks.

 

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What happens if the artworks are found in several different countries?

 

Mondex’s researchers and legal experts are located in several different countries so multiple locations of an art collection is quite normal for Mondex to manage.  In such circumstances Mondex helps coordinate all of the provenance and legal research and proceedings required to try to effect a recovery, regardless of where the artworks are located.

Copyright © Mondex Corporation  2014