Category: Asset recovery

Asset Recovery tip-sheets

Following the successful launch of our asset recovery blog, we will be publishing a series of tip-sheets on the various types of civil claim that can be made to recover corrupt assets, or compensation for corruption, as well as on key procedural issues that matter in these cases. The tip-sheets […]

Using insolvency powers to make claims for fraud: important Supreme Court decision

Companies are habitually used as part of a corruption scheme. Such companies often have only a single director, or a small number of directors, and are beneficially owned by the wrong-doers. Insolvency powers can be effective tools to obtain compensation for victims of fraud or corruption, in the right circumstances. […]

Privy Council Clarifies When Innocent Bank is Liable to Victims of Theft

To what extent must a bank make inquiries as to the commercial purpose of a transaction, particularly a transaction involving an offshore structure? And when is a bank liable to compensate a victim of theft for receiving funds deriving from stolen assets and using them for its own benefit? These […]

International enforcement of English asset recovery judgments: an overview

Civil proceedings brought by the state are one mechanism to recover the proceeds of crime, or to claim compensation for corrupt acts: as discussed in our previous post Recovering the proceeds of corruption: an overview. Typically, substantial corruption cases are international in scope and the proceeds of a corrupt transaction […]

Who owns a bribe: the bribed public official or the defrauded state?

A public official receives a bribe to award a contract.  Does the bribe “belong” to the official or to the state that he or she represents? The answer to the question can matter a great deal to the success of a claim. But the issue has been controversial and the […]

What do I need to know about POCA?

If you’re a company officer or director and need a quick reminder on your responsibilities under the UK’s Proceeds of Crime Act and the anti-money laundering regime, take a look at our one page tipsheet. We cover the following areas: an overview of the Act the definition of “proceeds of crime” confisction and forfeiture […]

Recovering the proceeds of corruption: an overview

Victim states seeking to recover the proceeds of corruption, or compensation for corrupt acts, may have a choice of mechanisms to do so:  criminal, civil and non-conviction forfeiture.   Each mechanism has advantages and disadvantages, and the “right” route for a particular case depends on the circumstances.   Flexibility is key, and any substantial […]