Serious Fraud Office & Anor v LCL & Ors (Ruling) [2020] EWHC 2079 (Comm) (28 July 2020)

Serious Fraud Office & Anor v LCL & Ors (Ruling) [2020] EWHC 2079 (Comm) (28 July 2020)

There is a good arguable case that the Irving Properties are realisable assets traceable to funds subject to prior restraint orders, and objective evidence of risk of dissipation and bankruptcy justifies the extension of the restraint order. The statutory conditions are met and the order is appropriate.

Citation
[2020] EWHC 2079 (Comm)
Parties
Claimant: Serious Fraud Office; Defendant: LCL; Defendant: Ms Sinead Irving; Defendant: Catherine Irving
Jurisdiction
England and Wales
Judgment Date
28 July 2020
Procedural Posture
Application to Vary Restraint Order / Ruling on Application
Outcome
application granted
Legal Topics
Restraint Orders, Confiscation Orders, Realisable Property, Bankruptcy Protection
Criminal Law Asset Recovery Restraint Orders Confiscation Orders Realisable Property Bankruptcy Protection

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Parties

Serious Fraud Office

Claimant

LCL

Defendant

Ms Sinead Irving

Defendant

Catherine Irving

Defendant

Procedural Posture

Application to Vary Restraint Order / Ruling on Application

Legal Issues

  1. 1 whether the Irving Properties are realisable assets under the Criminal Justice Act 1988
  2. 2 whether there is a real risk of dissipation or bankruptcy justifying a restraint order
  3. 3 whether Ms Irving received assets as a gift or at undervalue

Ratio Decidendi

There is a good arguable case that the Irving Properties are realisable assets traceable to funds subject to prior restraint orders, and objective evidence of risk of dissipation and bankruptcy justifies the extension of the restraint order. The statutory conditions are met and the order is appropriate.

Court Disposition

application granted

Orders

  • restraint order extended to cover the Irving Properties
  • express provision for Mrs Catherine Irving to have liberty to apply in relation to her interest