header-logo header-logo

16 June 2023 / Sophia Purkis
Issue: 8029 / Categories: Features , Profession , Disclosure , Fraud , International
printer mail-detail

Third-party information orders: a new gateway to action?

126367
Sophia Purkis examines the enforcement of Bankers Trust orders on overseas banks in light of the new gateway for third-party information orders
  • Recent cases have highlighted the applicable tests for obtaining disclosure orders against overseas banks, and the usefulness of the new gateway.
  • More cases will likely be brought once the new gateway is introduced.

Fraud and asset tracing are now commonly cross-jurisdictional, with money being moved swiftly between bank accounts and across countries in attempts to evade detection and enforcement. Recent cases have shed light upon the applicable tests for obtaining disclosure orders (Bankers Trust orders) against foreign banks and also demonstrated the usefulness of the new gateway relating to third-party information orders introduced in October 2022 at para 3.1(25) of CPR PD 6B, facilitating the same.

Kyriakou v Christie Manson & Woods Ltd and others [2017] EWHC 487 (QB) sets out the criteria for making a Bankers Trust order.They are that: there are good grounds for concluding that the

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Walkers—Muriel Marseille

Walkers—Muriel Marseille

Ashurst's Chief Risk Officer joins Walkers

Excello Law—John Osborne

Excello Law—John Osborne

Northern family lawyer John Osborne joins Excello

mfg Solicitors—Rebecca Rogers, Kennedy Langley & Victoria Griffiths

mfg Solicitors—Rebecca Rogers, Kennedy Langley & Victoria Griffiths

Trio of promotions announced at Kidderminster law firm mfg Solicitors

NEWS
A sole director can conspire with their own company for the purposes of the tort of unlawful means conspiracy, the High Court has ruled in a judgment with potentially wide implications for business disputes
The Court of Appeal has reinforced that domicile depends on intention rather than residence alone, in a significant post-Brexit ruling on cross-border financial remedy claims
The Chancery Division's long history comes to an end this autumn as it is reborn as the Business and Property Division, prompting questions over whether the shake-up is really necessary
The Financial Conduct Authority (FCA) continues to show that failing to disclose regulatory issues can attract harsher consequences than the original misconduct itself
Rejecting a generous settlement can prove an expensive mistake, as two recent high-profile cases demonstrate
back-to-top-scroll