Financial Intelligence Unit v Forex Place Ltd & Anor (MC 77/2014) [2014] SCSC 461 (27 November 2014)

The property in question appears to be proceeds of crime, and the statutory requirements for granting interlocutory orders and appointing a receiver under the Proceeds of Crime Act have been satisfied.

Citation: [2014] SCSC 461
Parties: Applicant: The Financial Intelligence Unit; Respondent: Forex Place Limited; Respondent: Barclays Bank (Offshore) Seychelles Limited
Court: Supreme Court
Jurisdiction: Seychelles
Judgment Date: 27 November 2014
Case Number: MC 77/2014
Procedural Posture: Civil / Interlocutory Application, Ex Parte Hearing
Outcome: Interlocutory orders granted as prayed, ex-parte.
Legal Topics: Interlocutory Orders, Asset Freezing, Receivership, Service Outside Jurisdiction
Source Language: English

Proceeds of Crime Criminal Law Banking Law Interlocutory Orders Asset Freezing Receivership Service Outside Jurisdiction

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Parties

The Financial Intelligence Unit

Applicant

Forex Place Limited

Respondent

Barclays Bank (Offshore) Seychelles Limited

Respondent

Procedural Posture

Civil / Interlocutory Application, Ex Parte Hearing

Legal Issues

1 Whether the property in question constitutes proceeds of crime
2 Whether interlocutory orders should be granted to prohibit dealing with the property
3 Whether a receiver should be appointed for the property

Ratio Decidendi

Court Disposition

Interlocutory orders granted as prayed, ex-parte.

Orders

Interlocutory order prohibiting Respondents or any person with notice from disposing of or dealing with the specified property.
Appointment of Declan Barber of the Financial Intelligence Unit as receiver of the property.