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24 July 2008
Issue: 7331 / Categories: Case law , Public , Law digest
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PROCEEDS OF CRIME

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Serious Fraud Office v Lexi Holdings plc [2008] EWCA Crim 1443, [2008] All ER (D) 149 (Jul)

Under s 69(2)(c) of the Proceeds of Crime Act 2002, if the court can see that a confiscation order, existing or prospective, relates to an amount which the defendant has ample assets to meet, then it may be that a debt to a third party creditor can properly be allowed to be paid from the restrained assets.

However, where there is a conflict with the object of satisfying any confiscation order that has been or might be made, a restraint order may not be varied so as to allow for the payment of a debt to an unsecured creditor.

Issue: 7331 / Categories: Case law , Public , Law digest
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MOVERS & SHAKERS

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Carey Olsen—Patrick Ormond

Carey Olsen—Patrick Ormond

Partner joinscorporate and finance practice in British Virgin Islands

Dawson Cornwell—Naomi Angell

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Firm strengthens children department with adoption and surrogacy expert

Penningtons Manches Cooper—Graham Green

Penningtons Manches Cooper—Graham Green

Media and technology expert joins employment team as partner in Cambridge

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