Financial fraud is one of the most corrosive forms of corruption. Digital assets, and particularly cryptocurrency, are a ripe target for fraud. Frauds involving digital assets have grown significantly in recent years....more
In XL Insurance Company SE v. IPORS Underwriting Ltd, Paul Alan Corcoran & Others [2021] EWHC 1407 (Comm), Mrs. Justice Cockerill DBE imposed an immediate maximum sentence of two years’ imprisonment following an application...more
The UK Serious Fraud Office (the “SFO”) has reached a £1.2 million civil recovery settlement with Julio Faerman, a Brazilian national linked to the sprawling “Operation Car Wash” investigation involving the Brazilian...more
The year 2019 has been something of a mixed bag for the UK’s criminal and regulatory authorities. While the Serious Fraud Office (“SFO”) and Financial Conduct Authority (“FCA”) appear to have taken involuntary sabbaticals...more
In Vneshprombank LLC v Georgy Bedzhamov and ors [2019] EWCA Civ 1992 the Court of Appeal reaffirmed the approach to ascertaining the "ordinary living expenses" of a respondent to a freezing injunction....more
In Rogachev v Goryainov [2019] EWHC 1529 (QB) the High Court discharged a freezing injunction for non-disclosure at the return date hearing and refused to grant further injunctive relief highlighting the significance of full...more
In recent weeks, courts in England and Hong Kong have taken the opportunity to set out the serious consequences that follow from deliberately breaching disclosure orders made in the context of freezing orders....more
Third-party assets controlled (de facto or de jure) by the respondent are ordinarily outside the scope of a freezing injunction unless exceptional circumstances can be established. In the recent case of FM Capital Partners...more
The recent decision of the London Commercial Court in PJSC Tatneft v Gennady Bogolyubov & Ors [2018] EWHC 1314 (Comm) highlights the importance that the Court will attach to full asset disclosure by a respondent to ensure the...more
In a helpful decision for claimants, the UK Supreme Court has confirmed that conspiring to breach a Freezing Order constitutes “unlawful means” for the purposes of the tort of Unlawful Means Conspiracy....more
Due to the general flexibility granted to banks by their standard account opening terms, corporate victims of online banking frauds often face substantial hurdles in court in their attempts to recover the sums lost from the...more
A High Court in England and Wales recently confirmed the Court’s ability to order a worldwide freezing order (WFO) to aid enforcement of an arbitral award as a judgment of the Court. In the recent decision of Great...more
In the recent case of Kevin Taylor v Van Dutch Marine Holding Ltd and others, the High Court decided that the exercise of existing rights by a secured creditor should not be regarded as a disposal by a defendant, and as a...more
A worldwide freezing order is an injunction granted by the English courts to restrain individuals or businesses from disposing of or dealing with assets on a worldwide basis. The order can be sought before, or...more