Persons who have become increasingly at risk
of civil recovery orders include shareholders, investors and institutional investors.
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».
Not exact matches
In this case, however, the SFO took unprecedented action in obtaining (with the consent
of Balfour Beatty) a
Civil Recovery Order (CRO).
Our expertise in the pursuit and defence
of civil fraud claims, particularly in the commercial context, extends from the early advisory stages and the obtaining (or resisting)
of urgent freezing and search
order relief (including dealing with the cross-jurisdictional issues that may arise and enforcement through applications for contempt and other measures), through to trial and the tracing and
recovery of assets both in the UK and internationally.
Whether the conditions for the making
of a disclosure
order under the Proceeds
of Crime Act 2002 existed or did not exist was essentially a question
of fact, the question being whether there were «reasonable grounds for believing» that the material relied upon by the Serious Organised Crime Agency was likely to be
of substantial value and that it was in the public interest that the material should be produced or that access to it should be given having regard to: (a) the benefit likely to accrue to the
civil recovery investigation if the material was obtained; and (b) the circumstances under which the person concerned had any
of the material in his possession, power or control (criteria (a) and (b)-RRB-.
JP SPC 4 & Others v Timothy Schools & Others Led by Paul McGrath QC and David Peters, instructed by Anne McCarthy
of K&L Gates, in a
civil fraud claim and related applications arising out
of a worldwide freezing
order, for the
recovery of over # 100 million invested by Cayman Islands investment funds in the UK litigation funding market.
Our audience
of expert practitioners will take you through the new legislative landscape
of unexplained wealth
orders, disclosure
orders and
civil recovery, in this practical session focused on ensuring client compliance.
It is commonly recognized that there are options open to a bankruptcy trustee that are not available in the fraud
recovery civil litigation process, such as the compelling
of documents and examinations without court
orders.
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».
Proceeds
of crime: The firm assists clients in matters involving cash seizure, detention and forfeiture;
civil forfeiture and
civil recovery and confiscation
orders, restraints and receivership, and revenue functions.
The allegations span a number
of years and a number
of different sets
of proceedings ultimately resulting in a
civil recovery order.
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).
It was accepted that the
orders had implemented the first defendant lord chancellor's prior policy decision (the decision) that the principle
of «full cost
recovery» in setting court fees (the principle) should be applied to public law family proceedings; that the rationale for the decision had been a wish to fix fees at a level which reflected the true cost to the courts services and to replace the then extant model which involved heavy subsidisation; and that s 92
of the Courts Act 2003 (CA 2003) was relevant insofar as it empowered the lord chancellor to prescribe court fees by
order, and that it set out obligations to «consult» specified judicial persons, the
Civil Justice Council in civil proceedings, and «persons likely to have to pay [fees]», prior to the making of any or
Civil Justice Council in
civil proceedings, and «persons likely to have to pay [fees]», prior to the making of any or
civil proceedings, and «persons likely to have to pay [fees]», prior to the making
of any
orders.
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.
The Serious Organised Crime Agency v Azam [2013] EWCA Civ 970 (31 July 2013) Successful appeal to the Court
of Appeal resulting in a variation
of a Property Freezing
Order so as to allow Mr Azam to fund the defence
of civil recovery proceedings brought against him by SOCA.
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.
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