Major global bank guilty of fraudDec 2012
This week, UBS became the first global bank in over two decades to have a subsidiary pleading guilty to fraud in the US. UBS announced that its Japanese subsidiary would plead guilty to one count of felony wire fraud as part of a wider settlement deal with the US authorities over its manipulation of Libor rates.
UBS has been fined £940 million by British, American and Swiss regulators including the biggest-ever fine given by the FSA of £160m. The US Justice Department also filed criminal charges against two former UBS traders. (more…)Read More
PCB win crucial victory in Middle East Fraud caseDec 2012
- The claimants breached their duty on the ex parte applications by failing to make full and frank disclosure and misrepresenting matters; and
- The claimants had breached an order for the preservation of certain hard drives (more…)
Civil proceedings – the only route for fraud victims to recover overseas assets?Dec 2012
The Supreme Court have recently ruled that, under English criminal law, the Proceeds of Crime Act 2002 ("POCA"), the English courts cannot impose property freezing orders or civil recovery orders in respect of property situated outside the UK. The Supreme Court also held that, under POCA, the English courts have no power to make disclosure orders relating to persons outside the jurisdiction.
The ruling was made in the case of Perry and others v Serious Organised Crime Agency  UKSC 35. Perry was convicted of a serious criminal fraud in Israel in 2007 and sentenced to 12 years in jail and a large fine. Later, the Serious Organised Crime Agency ("SOCA") discovered that Perry and his family held £14 million in two bank accounts in London, as well as assets and property in other jurisdictions. (more…)Read More
November 2012Nov 2012
PCB Litigation is advising on multi million dollar fraud claims involving US, Caribbean and Asia. Read More
PCB top fraud lawyersNov 2012
Chambers and Partners published its 2013 UK rankings at the end of last week re-affirming PCB Litigation LLP's status as a leading niche fraud practice.
The Chambers guide ranks PCB for civil fraud either above or alongside all of the Magic Circle firms and commends "this outstanding fraud litigation boutique", which is "going from strength to strength" according to market sources, who see the firm consistently "punching well above its weight" when coming up against much larger outfits. (more…)Read More
October 2012Oct 2012
September 2012Sep 2012
PCB Litigation are advising in relation to a Middle East financial dispute where proceedings have been brought in several jurisdictions. Read More
August 2012Aug 2012
PCB Litigation are advising a prominent European Bank in relation to asset recovery arising out of guarantee defaults. Read More
July 2012Jul 2012
PCB Litigation have been retained by a Bank to recover assets held in Western Europe. Read More
June 2012Jun 2012
A prominent European commercial corporation has retained PCB Litigation to pursue claims against multi-jurisdictional assets. Read More
May 2012May 2012
April 2012Apr 2012
PCB Litigation is advising on a claim against a London bank in respect of unauthorised transactions.
PCB Litigation is advising on jurisdictional issues arising out of an alleged scheme to strip assets from an overseas company. Read More