Sentences with phrase «civil recovery orders»

Persons who have become increasingly at risk of civil recovery orders include shareholders, investors and institutional investors.

SFO preference for civil recovery orders is despite misgivings about their legitimacy as expressed by Thomas LJ in the Innospec case in April 2010.

The firm recently acted in matters relating to confiscation proceedings, cash seizure, forfeiture, restraint orders, property freezing orders and civil recovery orders under the Proceeds of Crime Act and tipping off offences in accordance with National Criminal Intelligence Service «NCIS».

But in the face of widespread concern he back - tracked from this approach in favour of a slightly more transparent solution with a semblance of judicial scrutiny, namely civil recovery orders (CROs).

In this case, however, the SFO took unprecedented action in obtaining (with the consent of Balfour Beatty) a Civil Recovery Order (CRO).

The SFO press release indicated that the outcome was justified because it had agreed to a civil recovery order whereby it paid # 11m to the Treasury (with # 4m of that being routed back to the SFO).

The allegations span a number of years and a number of different sets of proceedings ultimately resulting in a civil recovery order.

Current instructions include the largest crypto - currency prosecution, a corporate defendant in an SFO corruption trial and a civil recovery order claim for # 4.4 m. His recent portfolio of major fraud cases is substantial and include the first ever FCA prosecution and the successful defence of an alleged collective investment scheme.

In this narrative in relation to what sentence should be imposed by a UK court, the SFO and the company jointly submitted that this should only consist of a confiscation order of $ 6.7 m. However, the narrative also revealed that the company would pay $ 6m to the SFO by way of a civil recovery order.

He held that it would «rarely be appropriate for criminal conduct by a company to be dealt with by means of a civil recovery order».

Unless there is a sea change in approach from the next SFO Director (David Green QC's tenure ends in early 2018), civil recovery orders for cases of serious economic crime are likely, in most cases, to be a thing of the past.

Between 2008 and 2012, the UK's Serious Fraud Office (SFO) made use of nine Civil Recovery Orders (CROs) against corporates in white collar cases.