First Trust Management Limited -v- AG [2018] JRC 064 (23 March 2018)

First Trust Management Limited -v- AG [2018] JRC 064 (23 March 2018)

The US forfeiture order qualifies as an external confiscation order under Jersey law because it is on its face a forfeiture order intended to recover the proceeds of crime, not a compensatory order. The underlying conduct, when transposed to Jersey, would constitute criminal conduct (bribery and false statements) punishable by at least one year imprisonment. At the saisie stage, it is sufficient that there are reasonable prospects the property will be subject to a confiscation order. The application to lift the saisie is therefore refused.

Citation
[2018] JRC 064
Parties
Applicant: First Trust; Respondent: Attorney General
Jurisdiction
Jersey
Judgment Date
23 March 2018
Procedural Posture
Application to Lift Saisie Judiciaire / Hearing and Judgment on Application to Lift Saisie
Outcome
Application to lift saisie refused
Legal Topics
Enforcement of Foreign Confiscation Orders, Saisie Judiciaire, Corresponding Offences, Asset Freezing, Mutual Legal Assistance
Criminal Law Proceeds of Crime International Cooperation Enforcement of Foreign Confiscation Orders Saisie Judiciaire Corresponding Offences Asset Freezing Mutual Legal Assistance

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Parties

First Trust

Applicant

Attorney General

Respondent

Procedural Posture

Application to Lift Saisie Judiciaire / Hearing and Judgment on Application to Lift Saisie

Legal Issues

  1. 1 Whether the US forfeiture order qualifies as an external confiscation order under Jersey law
  2. 2 Whether the conduct underlying the US order constitutes 'criminal conduct' for Jersey law purposes
  3. 3 Whether the assets in question are 'realisable property' under the Modified Law

Ratio Decidendi

The US forfeiture order qualifies as an external confiscation order under Jersey law because it is on its face a forfeiture order intended to recover the proceeds of crime, not a compensatory order. The underlying conduct, when transposed to Jersey, would constitute criminal conduct (bribery and false statements) punishable by at least one year imprisonment. At the saisie stage, it is sufficient that there are reasonable prospects the property will be subject to a confiscation order. The application to lift the saisie is therefore refused.

Court Disposition

Application to lift saisie refused

Orders

  • Saisie judiciaire over the relevant accounts and assets remains in force pending further proceedings.