Serious Fraud Office & Anor v LCL & Ors (Ruling)

Serious Fraud Office & Anor v LCL & Ors (Ruling)

There is a good arguable case that the Irving Properties are realisable assets under the Criminal Justice Act 1988, 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 to protect the SFO's interests without causing significant additional prejudice to respondents.

Parties
Claimant: Serious Fraud Office; Defendant: Ms Sinead Irving; Defendant: Catherine Irving; Defendant: LCL
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, Risk of Dissipation, Bankruptcy Protection
Criminal Law Asset Forfeiture Civil Procedure Restraint Orders Confiscation Orders Realisable Property Risk of Dissipation Bankruptcy Protection

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Parties

Serious Fraud Office

Claimant

Ms Sinead Irving

Defendant

Catherine Irving

Defendant

LCL

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 under the Criminal Justice Act 1988, 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 to protect the SFO's interests without causing significant additional prejudice to respondents.

Court Disposition

application granted

Orders

  • Restraint order extended to cover the Irving Properties in terms sought by the SFO
  • Express provision for Mrs Catherine Irving to have liberty to apply in relation to her interest in Moor Lane property