Friday 29 October 2021

UK: Supreme Court judgment next week - proprietary claims and priority

The UK Supreme Court has announced that it will hand down its judgment in CPS v Aquila Advisory Ltd [2021] UKSC 49 on 3 November next week. The issues before the court, to quote directly from the summary provided, were these: "Where a proprietary claim is brought by a company against its directors to recover proceeds of crime received in breach of fiduciary duty: (1) Can that proprietary claim be asserted in priority to a confiscation order obtained by the Crown Prosecution Service? (2) Can the illegality of the directors be attributed to the company in circumstances where the company suffered no loss and stood to profit from the crime?"

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