Financial Intelligence Unit vs Guardian Offshore Inc and Another (Miscellaneous Cause No. 33 of 2012) [2013] SCSC 5 (31 January 2013)

Financial Intelligence Unit vs Guardian Offshore Inc and Another (Miscellaneous Cause No. 33 of 2012) [2013] SCSC 5 (31 January 2013)

There are reasonable grounds to suspect that the specified property constitutes benefit from criminal conduct, justifying the issuance of an interlocutory order and appointment of a receiver.

Citation
[2013] SCSC 5
Parties
Applicant: The Financial Intelligence Unit; Respondent No.1: Guardian Offshore Inc; Respondent No.2: Barclays Bank (Seychelles) Limited
Court
Supreme Court
Jurisdiction
Seychelles
Judgment Date
31 January 2013
Case Number
Miscellaneous Cause No. 33 of 2012
Procedural Posture
Miscellaneous Cause / Interlocutory Application
Outcome
Application allowed
Legal Topics
Interlocutory Orders, Asset Freezing, Receivership, Money Laundering
Source Language
English
Proceeds of Crime Civil Procedure Interlocutory Orders Asset Freezing Receivership Money Laundering

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Parties

The Financial Intelligence Unit

Applicant

Guardian Offshore Inc

Respondent No.1

Barclays Bank (Seychelles) Limited

Respondent No.2

Procedural Posture

Miscellaneous Cause / Interlocutory Application

Legal Issues

  1. 1 Whether the specified property held in the respondent no.1'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 benefit from criminal conduct, justifying the issuance 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 to hold the specified property in an interest bearing account at Barclays Bank (Seychelles) Ltd until further orders