The Financial Intelligence Unit vs Richmond Capital Management Limited and another (Civil Side No. 95 of 2011) [2012] SCSC 13 (4 March 2012)

The Financial Intelligence Unit vs Richmond Capital Management Limited and another (Civil Side No. 95 of 2011) [2012] SCSC 13 (4 March 2012)

There are reasonable grounds to suspect that the specified property constitutes, directly or indirectly, benefit from criminal conduct or was acquired with such property, justifying the grant of an interlocutory order and appointment of a receiver.

Citation
[2012] SCSC 13
Parties
Applicant: The Financial Intelligence Unit; Respondent No.1: Richmond Capital Management Limited; Respondent No.2: Barclays Bank (Seychelles) Limited
Court
Supreme Court
Jurisdiction
Seychelles
Judgment Date
4 March 2012
Case Number
Civil Side No. 95 of 2011
Procedural Posture
Civil / Interlocutory Order
Outcome
Application allowed
Legal Topics
Interlocutory Injunction, Asset Freezing, Money Laundering, Appointment of Receiver
Source Language
English
Proceeds of Crime Civil Procedure Interlocutory Injunction Asset Freezing Money Laundering Appointment of Receiver

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Parties

The Financial Intelligence Unit

Applicant

Richmond Capital Management Limited

Respondent No.1

Barclays Bank (Seychelles) Limited

Respondent No.2

Procedural Posture

Civil / Interlocutory Order

Legal Issues

  1. 1 Whether the specified property in the respondent's account constitutes benefit from criminal conduct
  2. 2 Whether an interlocutory order prohibiting disposal of the property should be granted
  3. 3 Whether a receiver should be appointed for the specified property

Ratio Decidendi

There are reasonable grounds to suspect that the specified property constitutes, directly or indirectly, benefit from criminal conduct or was acquired with such property, justifying the grant of an interlocutory order and appointment of a receiver.

Court Disposition

Application allowed

Orders

  • Interlocutory order prohibiting disposal, dealing with, or diminishing in value of the specified property issued
  • Mr Liam Hogan appointed as Receiver of the specified property to hold in an interest bearing account at Barclays Bank (Seychelles) Ltd until further orders