(A) providing a dispersion comprising:

an aqueous dispersing phase comprising palladium(II),

at least one non-ionic surfactant and

at least one compound bearing a beta-dithiocarbonyl group,

so as to form a hydrophobic complex of palladium(II) with the compound bearing a beta-dithiocarbonyl group;

(B) heating the dispersion resulting from step (A) to a temperature at least equal to its cloud point so as to obtain: a phase separation between the aqueous dispersing phase; and, a dispersed phase comprising a surfactant and at least a part of said hydrophobic complex;

(C) separating the dispersed phase from the aqueous dispersing phase resulting from step (B); and

(D) recovering the hydrophobic complex of palladium(II) with the compound bearing a beta-dithiocarbonyl group.