11 April 2017

Divisional Court considers "cash" seizure by way of a Production Order

Divisional Court considers "cash" seizure by way of a Production Order

The Divisional Court (Gross LJ and Leggatt J) have handed down judgment in the case of Merida Oil and Bunnvale v City of London Police.┬áThe case was a judicial review of the City of London Police’s┬áseizure of some US $20 million held in an account by way of a Production Order to produce the sum held to the credit of the account as “cash” (for the purposes of the Proceeds of Crime Act 2002) in the form of cheques made out to the City of London Police.

David Perry QC and Katherine Hardcastle appeared on behalf of Bunnvale, a firm of traders operating in London’s energy derivatives market.