Fraud, Asset Recovery & Injunctive Relief
Fraud is an ever increasing problem in today’s society and technological advances make the range of fraudulent activity more extensive than ever. Claims often relate to sophisticated conspiracies with an international element where a multi-jurisdictional approach is required by highly experienced fraud solicitors.
A victim of fraud has the option of reporting matters to the police, however, often a claim exists outside of the criminal sphere and then they can also use the civil law to recover losses. More importantly, steps can be taken to trace and recover assets; which is usually the main priority, often making use of injunctive relief in the process.
In these circumstances speed is essential and our knowledge of this area ensures our team of fraud solicitors can swing into action as required.
It can be a complicated area of law and we have experience in navigating the pitfalls on behalf of clients and pursuing often international cases through to fruition.
Further, we are experts in defending such claims and acting for the recipients of injunction orders. We provide clear advice always with an eye on commercial realities for clients and work with other professionals such as tracing agents, IT specialists, forensic accountants and private investigators as required.
Whilst asset recovery, fraud and injunctive relief often go hand in hand, asset recovery and injunction applications can also support other causes of action such as enforcement of judgments, breaches of restrictive covenants and breach of confidence actions and we have extensive experience in such areas and applications also.
Our expert fraud solicitors have experience in a wide range of matters including the following:
Legal Considerations
The tort of deceit is the main and most common fraud claim but consideration should also be given to claims of conspiracy and unjust enrichment.
It is important at an early stage to consider whether injunctive relief needs to be sought; whether that is a freezing order (preventing dealing with assets), a Norwich Pharmacal or disclosure order (providing required information on potential wrongdoing and assets), search and seizure orders or some other kind of mandatory order.
Injunctive orders need to be sought without delay and the court will look to whether there is a serious issue to be tried, whether damages would adequately compensate for loss and will further consider the balance of convenience when assessing whether to grant an injunction.
Usually made on a ‘without notice’ or ‘ex parte’ basis, applications for the above are often combined with a gagging order to prevent disclosure of information about the application.
Find out how our expert fraud solicitors can help with asset recovery and injunctive relief.
Other factors to Consider
Other factors to Consider
Company buyback of shares and subsequent cancellation. This can be a useful route provided 75% of the shareholders will consent as the Company meets the acquisition cost; however it must have sufficient surplus cash.
If a founder is looking to step aside then perhaps a reorganisation can assist with the variation of rights but retention of financial reward.
An anti-embarrassment clause can operate effectively in any settlement agreement, with the sale price for shares being uplifted if an event such as a sale of the business occurs or funding is received subsequent to exit.
A key to the resolution of a dispute is often an independent valuation of the relevant shareholding. To secure this the parties will need to determine the basis of the valuation.
News, Insights & Resources
During the recent session from our ‘General Counsel Know How’ series, senior corporate disputes lawyer Simon Engelsman led an interesting discussion on the various ways in which directors of limited companies can be found personally liable for actions carried out on behalf of those companies.
We are delighted to welcome Rachelle Issa to the Ignition Team. Rachelle is joining as a Consultant within the Dispute Resolution team.
We are delighted to welcome Rashida Abdulai to the Ignition Team. Rashida is joining as a Senior Consultant within the Dispute Resolution team.
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