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27 May 2020 / Tom Forster KC
Issue: 7888 / Categories: Features , Criminal
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Wealth beyond reach…for now

21418
No longer unexplained—unexplained wealth orders. Tom Forster QC provides an analysis of recent setbacks for the National Crime Agency
  • National Crime Agency v Baker and others: judgment relating to the discharge of unexplained wealth orders appealed.
  • Media attention: extraordinary allegations of unexplained wealth.
  • Procedure: a presumptive starting point and useful guidance.
  • The future: major weaknesses in UK’s defences against suspect funds should be addressed urgently.

On 8 April two prominent Kazakhstan nationals successfully persuaded the High Court to discharge three unexplained wealth orders (UWOs) (National Crime Agency v Baker and others [2020] EWHC 822 (Admin), [2020] All ER (D) 59 (Apr)).

The UWOs related to three London homes owned for the benefit of Nurali Aliyev and his Kazakh politician mother, Dariga Nazarbayeva. One property attracted particular media attention as it is located on The Bishops Avenue in Hampstead, London, so called ‘Billionaires Row’.

The National Crime Agency’s (NCA) case was that it suspected the properties were bought with funds embezzled by Mr Aliyev’s now dead

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MOVERS & SHAKERS

Signature Litigation—Catherine Naylor

Signature Litigation—Catherine Naylor

International fraud and asset recovery offering boosted by partner hire

Stevens & Bolton—Alexa Payet

Stevens & Bolton—Alexa Payet

Private wealth disputes team adds contentious probate specialist

Morgan Lewis—Paul Feldberg

Morgan Lewis—Paul Feldberg

Firm strengthens investigations and sanctions capabilities with London partner hire

NEWS
Cheshire West, which established an ‘acid test’ for deprivation of liberty safeguards, has been overturned by the Supreme Court
The Chancery Division and other segments of the High Court are to be replaced by a new Business and Property Division (BPD), in a major civil justice shakeup
Law firms that hold client money will need to file annual accountants’ reports and make a declaration, the Solicitors Regulation Authority (SRA) confirmed this week
Two district judges and a tribunal judge have been sanctioned for delays in delivering judgments and orders
Private equity (PE) investment into UK law firms halved to £250m last year, but deal volume rose, according to research by Acquira Professional Services’ Momentum private equity market tracker
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