Chickens coming home to roost: SFO’s first conviction of a company for bribery after contested trial – RPC Financial Services Blog

Posted January 8th, 2015 in bribery, company directors, corruption, news, Serious Fraud Office by sally

‘Hot on the heels of the SFO’s first conviction under the Bribery Act 2010, discussed in George’s post, and just as some of us were disappearing for a Christmas break, the SFO announced its first conviction of a company for bribery of foreign public officials after a contested trial. (Regular SFO-watchers will recall that in Mabey & Johnson (2009) and Innospec (2010), both companies pleaded guilty by agreement to offences involving bribery of foreign public officials.) This prosecution was not in fact under the much-trumpeted Bribery Act 2010, but under s1 of the Prevention of Corruption Act 1906.’

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RPC Financial Services Blog, 7th January 2015

Source: www.rpc.co.uk

Cellino and Leeds United in Troubled Waters – Sports Law Bulletin from Blackstone Chambers

Posted December 4th, 2014 in company directors, criminal records, disqualification, news, sport, tax evasion by sally

‘The Football League finally got their man. But is it too late? Will Massimo Cellino and Leeds United yet sail off into the clear blue sea?’

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Sports Law Bulletin from Blackstone Chambers, 3rd December 2014

Source: www.sportslawbulletin.org

Cartiera dell’Adda SpA v CEM Ambiente SpA – WLR Daily

Cartiera dell’Adda SpA v CEM Ambiente SpA (Case C-42/13) EU:C:2014:2345; [2014] WLR (D) 468

‘Article 45 of Parliament and Council Directive 2004/18/EC of 31 March 2004 on the co-ordination of procedures for the award of public works contracts, public supply contracts and public service contracts (as amended by Commission Regulation (EC) No 1177/2009 of 30 November 2009), read in conjunction with article 2 of the Directive, and the principle of equal treatment and the obligation of transparency did not preclude the exclusion of an economic operator from a procurement procedure on the ground that the operator had failed to comply with the requirement laid down in the contract documentation to annex to his bid, on pain of exclusion, a statement that the person designated as the operator’s technical director had not been the subject of criminal proceedings or a conviction, even where, at a date after the expiry of the deadline for submitting bids, such a statement had been provided to the contracting authority or it was shown that the person in question was identified as the technical director in error.’

WLR Daily, 6th November 2014

Source: www.iclr.co.uk

FCA fines and bans senior Swinton management figures over sales culture failings – OUT-LAW.com

Posted November 11th, 2014 in company directors, financial regulation, fines, insurance, news by tracey

‘The former chief executive, finance director and marketing director at a UK insurance provider have been served with fines by the Financial Conduct Authority (FCA) and banned from taking senior positions at other financial services companies in the future.’

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OUT-LAW.com, 10th November 2014

Source: www.out-law.com

White collar crime reform considered – Law Society’s Gazette

‘The attorney general has revealed that the government is considering changing the evidential basis for prosecuting white collar crime.’

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Law Society’s Gazette, 20th October 2014

Source: www.lawgazette.co.uk

Tesco to be probed by Financial Conduct Authority – BBC News

Posted October 1st, 2014 in accountants, accounts, company directors, financial regulation, markets, news by tracey

‘Tesco says it has been notified by the Financial Conduct Authority (FCA) that it is under investigation following its admission last week that it overstated its half-year profit guidance by £250m.’

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BBC News, 1st October 2014

Source: www.bbc.co.uk

NHS heart expert and three colleagues jailed for £1m fraud – Daily Telegraph

Posted September 4th, 2014 in company directors, conspiracy, disqualification, fraud, health, news, sentencing by sally

‘John Mulholland who has an international reputation and is published widely in academic journals, billed the NHS £1.1 million for work that was never done.’

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Daily Telegraph, 3rd September 2014

Source: www.telegraph.co.uk

Richmond Pharmacology Ltd v Chester Overseas Ltd and others – WLR Daily

Richmond Pharmacology Ltd v Chester Overseas Ltd and others [2014] EWHC 2692 (Ch); [2014] WLR (D) 365

‘The test of whether there was a breach of the duty under section 175 of the Companies Act 2006 was objective, and did not depend on whether the director was aware that what he was doing was a breach of his duty. It was no defence to a claim for breach of this duty that the director had acted in good faith. Nor was it a defence that the director had acted reasonably, but wrongly, had thought that he had been entitled to do what he had done.’

WLR Daily, 1st August 2014

Source: www.iclr.co.uk

Smithton Ltd v Naggar – WLR Daily

Posted July 15th, 2014 in appeals, company directors, law reports by tracey

Smithton Ltd v Naggar; [2014] EWCA Civ 939; [2014] WLR (D) 306

‘The Court of Appeal set out points of general practical importance in determining whether a person was a de facto director.’

WLR Dail, 10th July 2014

Source: www.iclr.co.uk

Dar Al Arkan Real Estate Development Co and another v Majid Al-Sayed Bader Hashim Al Refai and others – WLR Daily

Dar Al Arkan Real Estate Development Co and another v Majid Al-Sayed Bader Hashim Al Refai and others: [2014] EWCA Civ 715; [2014] WLR (D) 239

‘CPR r 81.4(3), which gave the court power to order that a company director or officer be imprisoned for a company’s contempt, applied to a director who was outside the jurisdiction.’

WLR Daily, 23rd May 2014

Source: www.iclr.co.uk

‘Dodgy directors’: Tougher sanctions could see them paying compensation – The Independent

Posted April 22nd, 2014 in bills, company directors, compensation, news, sanctions, victims by sally

‘The Government is to introduce a law imposing tougher penalties on “rogue and reckless” company directors that could see them paying compensation to victims.’

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The Independent, 19th April 2014

Source: www.independent.co.uk

Dar Al Arkan Real Estate Development Co and another v Majid Al-Sayed Bader Hashim Al Refai and others – WLR Daily

Dar Al Arkan Real Estate Development Co and another v Majid Al-Sayed Bader Hashim Al Refai and others [2013] EWHC 4112 (QB); [2013] WLR (D) 9

‘CPR r 81.4(3), which gave the court power to order that a company director or officer be imprisoned for a company’s contempt, applied to a director who was outside the jurisdiction.’

WLR Daily, 20th December 2013

Source: www.iclr.co.uk

Birmingham fake money: Four jailed for £1.3m counterfeit scam – BBC News

‘Four men have been jailed for making more than £1.3m worth of counterfeit £10 notes.’

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BBC News, 13th January 2014

Source: www.bbc.co.uk

 

Regina v Wilson (Michael) – WLR Daily

Posted October 25th, 2013 in company directors, crime, health & safety, indictments, law reports by sally

Regina v Wilson (Michael) [2013] EWCA Crim 1780 ; [2013] WLR (D) 404

“Article 32(8) of the Regulatory Reform (Fire Safety) Order 2005 did not create a discrete offence, but an indictment containing a charge which referred only to article 32(8), and not to the other article in combination with which it created an offence, was not a nullity and a conviction might, despite the material irregularity, be considered safe.”

WLR Daily, 23rd October 2013

Source: www.iclr.co.uk

Eclairs Group Ltd and another v JKX Oil & Gas plc and others – WLR Daily

Eclairs Group Ltd and another v JKX Oil & Gas plc and others [2013] EWHC 2631 (Ch); [2013] WLR (D) 373

“The ‘reasonable cause to believe’ provision in section 793 of the Companies Act 2006 operated for the purposes of all its subsections, but operated only in relation to the addressee of a notice. Questions directed to a person who had or was believed to have an interest in the company’s shares about the interests of another person had to be questions about interests in the addressee’s shares, not other shares. It was permissible to ask and receive an answer to the direct question ‘Does [the third party] have an interest?’.”

WLR Daily, 30th August 2013

Source: www.iclr.co.uk

Olympus to be prosecuted by UK fraud agency – BBC News

Posted September 4th, 2013 in accounts, company directors, company law, fraud, guilty pleas, news, prosecutions, sentencing by sally

“Japanese camera and medical equipment maker Olympus and its UK subsidiary Gyrus Group will be prosecuted by the UK’s Serious Fraud Office.”

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BBC News, 4th September 2013

Source: www.bbc.co.uk

New directors’ remuneration reporting regime will come into force from October – OUT-LAW.com

Posted August 16th, 2013 in company directors, news, regulations, remuneration, reports by tracey

“Companies should prepare now for the introduction of new rules governing the information that they must include in their directors’ remuneration reports, an expert has said.”

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OUT-LAW.com, 15th August 2013

Source: www.out-law.com

Regina v Sale – WLR Daily

Regina v Sale [2013] EWCA Crim 1306; [2013] WLR (D) 304

“Where the defendant was the sole shareholder of a company for which he had secured commercial contracts by corruption, the assessment of the defendant’s criminal benefit for the purposes of a confiscation order could not be based on the turnover from the contracts because that would be disproportionate but should be restricted to the gross profit earned by the company together with any other pecuniary advantage which flowed from the corruption.”

WLR Daily, 25th July 2013

Source: www.iclr.co.uk

Regulator sees case against iSoft collapse over missing file – The Guardian

Posted July 23rd, 2013 in company directors, documents, financial regulation, news, retrials by tracey

“The city regulator has suffered a huge blow to its reputation after one of its biggest financial crime cases, against four former company directors of iSoft, collapsed over a missing file.”

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The Guardian, 22nd July 2013

Source: www.guardian.co.uk

Courts could force directors to compensate creditors, under Government plans – OUT-LAW.com

“Courts could be given the power to order disqualified company directors to compensate creditors who have lost money as a result of their actions, under plans being considered by the Government.”

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OUT-LAW.com, 16th July 2013

Source: www.out-law.com