Jan 27, 2016 Byrne and Partners founding partner, Michael Potts, selected for 2016 The Lawyer Hot 100 Byrne and Partners LLP is proud to announce that Michael Potts, one of the founding partners of the boutique criminal and civil litigation firm, has been personally selected for The Lawyer Hot 100 2016: Litigation. A specialist defence lawyer in the areas of financial crime, fraud and regulatory investigations, Michael has acted for individuals in investigations brought against them by regulatory bodies including the SFO, FCA and the Fraud Prosecution Service.   In 2015, Michael was the lead solicitor on two notable and high profile cases – JP Morgan Chase vs Bruno Iksil and ... Read More
Jan 28, 2016 Electronic documents When considering what documents exist to support a case it is vital not to overlook electronic documents.  In many modern disputes, electronic documents form a high proportion of the disclosure in a case. As a potential claimant or defendant it is important to understand the value of electronic documents to your matter. The value of electronic documents Unlike paper documents, electronic documents are particularly resilient. Even after you believe a document has been deleted or lost, those documents can often be partially or fully recovered. In cases where fraud is alleged, it is ... Read More
Jan 19, 2016 A return to Victorian levels of personal accountability for those working in Financial Services? The new Senior Managers & Certification Regime (SMR) comes into force for relevant persons on 7 March 2016. The political and social fallout from the financial crisis could not have been played out on a more public stage. However, have the subsequent calls for more individual accountability (read ‘heads on sticks’) in the financial services industry really been led by a wave of ‘public’ opinion, as we have been led to believe? Or has this narrative simply provided the regulators with just the politically palatable justification that they needed to increase their ... Read More
Dec 23, 2015 Freezing Injunctions – the Cross-Undertaking as to Damages The freezing injunction is a potent weapon for claimants, but it can backfire very badly. This is because the claimant who obtains a freezing injunction must undertake to comply with any subsequent court order requiring him to compensate the defendant for losses caused by the injunction. The cross-undertaking should play a central role in how both defendants and claimants approach freezing injunctions. Each case will turn on its facts but the following considerations tend to be important.   If you are a defendant: Keep the claimant fully informed of any loss or damage which you ... Read More
Dec 21, 2015 Film scheme tax fraud convictions Film scheme tax fraud convictions A former financial adviser was found guilty on 10 December of conspiracy to cheat HM Revenue & Customs (‘HMRC’) by promoting a film investment scheme to evade paying tax. Neil Williams-Denton, a former director of Greystone Financial Services, was convicted of another count of conspiracy to cheat HMRC in a linked trial in September. In the earlier trial, he was convicted along with Terence Potter, a film producer and former partner at accountancy firm Ernst & Young, who pleaded guilty to the second trial. Both defendants were sentenced on ... Read More
Dec 7, 2015 First Deferred Prosecution Agreement approved This week, the first Deferred Prosecution Agreement (DPA) was approved between ICBC Standard Bank PLC and the SFO by Lord Justice Leveson at Southwark Crown Court, sitting at the Royal Courts of Justice. The indictment set out a count of bribery under section 7 of the Bribery Act 2010, alleging that the bank’s sister company (Stanbic Bank Tanzania) increased the cost of a $600m sovereign loan by a further 1% to be paid to induce members of the Government of Tanzania to show favour to Stanbic and Standard Bank’s proposal. The offence arose out of the inadequacy of the ... Read More
Nov 20, 2015 High Court considers threshold test in security for costs applications An order for security for costs requires a party to pay money into court or provide a bond or guarantee as security for their opponent's costs.  This feature of the English Civil Procedure Rules is intended to mitigate the potential injustice faced by a successful defendant who is unable to recover his legal costs. In Ras Al Khaimah Investment Authority and others v Bestfort Development LLP and others [2015] EWHC 3197 (Ch) the High Court recently considered the standard which defendants have to meet to satisfy the court that, without an order for security for costs, enforcement of a ... Read More
Nov 20, 2015 Pressure continues to mount for serious reconsideration of the “Criminal Court Charges” imposed by the joint coalition but just what are these charges and what are their implications? What are the charges? From 13th April 2015 it has become mandatory for the Court to impose Criminal Court Charges in the event of a guilty plea or conviction. These charges are as follows: Magistrates Court Guilty plea – summary only offence £150 Guilty plea – either way offence £180 Conviction after trial – summary only offence £520 Conviction after trial – either way offence £1,000 Crown Court Guilty plea - £900 Conviction after trial - £1,200 What are the implications of the charges? At their introduction Chris ... Read More
Nov 11, 2015 The Right to Inspection of Documents Under CPR31.14 In late 2013, as part of its new Kleptocracy Initiative, the Department of Justice initiated civil forfeiture proceedings in Washington to seize over US$458million allegedly taken by former Nigerian president General Sani Abacha and his associates whilst General Abacha was in office. Approximately US$100million of the assets subject to the proceedings are held in London and accordingly, the DOJ sought the assistance of the UK authorities. In one of the first cases to be heard under the new Part 4A of the Proceeds of Crime Act 2002 (External Requests and Orders) Order 2005, the National Crime ... Read More
Oct 12, 2015 ‘Third Party Intervention in confiscation proceedings: Considering the Human Rights Impact of Sections 1, 2 and 4 SCA 2015’ The involvement of third party claimants in confiscation proceedings creates a new source of work for asset forfeiture practitioners. It is incumbent on practitioners representing third parties to be able to advise their clients on these new provisions and the likely outcomes of their claims. This article examines the practical impact of the relevant provisions of the Serious Crime Act 2015 (SCA) on third parties Article 6 and Article 1 Protocol 1 rights under the European Convention. To read the Full Article Click Here For more information contact the author.   About ... Read More