4 Stone Buildings has developed significant expertise in civil proceedings brought under Part 5 of the Proceeds of Crime Act 2002. Members are particularly sought after in cases of significant financial complexity owing to their substantial expertise in large scale commercial fraud, insolvency, banking and financial services.
By contrast with confiscation proceedings, in which the respondent is placed under a personal obligation to pay a sum of money to the State, the purpose of the regime under Part 5 of POCA is to recover the property itself. This requires an investigation into the derivation of the property, and involves principles of asset tracing, frequently internationally, and often through the banking system.
Members of 4 Stone Buildings, being specialists in (among other areas) commercial fraud, insolvency, banking, and financial services, are ideally placed to tackle the most complex cases in this area, particularly those involving a financial, business or insolvency element. Members’ significant experience in obtaining freezing injunctions in the Chancery Division and Commercial Court is also particularly valuable when dealing with property freezing orders which can be obtained by the NCA under Part 5 of POCA.