Comment Archives - Page 42 of 51 - Peters & Peters

Corporate Crime Analysis – published on Lexis Nexis ‘Extradition and transit cases- a positive change’ 1st December 2015

Brian McDonald December 2, 2015 0 Comments

Corporate Crime analysis: Jasvinder Nakhwal, partner in business crime at Peters and Peters, with William Green, associate, and legal researcher Craig Hogg, explains the key proposals in the government’s draft codes of practice for extradition and transit cases, and anticipates a broadly positive response from practitioners. To view the full publication please click below. Extradition […]

The UK continues to export best practice in financial services regulation

Brian McDonald November 19, 2015 0 Comments

On 21 October 2015, the Abu Dhabi Global Market (“ADGM”) officially opened for business. The ADGM is the latest international financial free zone to be established in the UAE and throughout the Persian Gulf. In common with similar initiatives in Dubai and Qatar, to encourage diversification of Abu Dhabi’s economy through foreign investment, the ADGM […]

AML failures in DIFC-regulated firms lead to enforcement action

Brian McDonald November 18, 2015 0 Comments

By Final Notice dated 2 November 2015, the Dubai Financial Services Authority (the “DFSA”) imposed a $640,000 financial penalty on the Dubai International Financial Centre branch of the Dutch bank ABN AMRO (“ABN”, or the “Bank”), for failures in the Bank’s anti-money laundering (“AML”) systems and controls. The DFSA identified “widespread … contraventions”, which in […]

Saudi based company in proceedings brought against former employees for breaches of trust including the misappropriation of funds

Brian McDonald November 10, 2015 0 Comments

Acted for a Saudi based company in proceedings brought against former employees for breaches of trust including the misappropriation of funds. The case involved complex international litigation including the co-ordination of disclosure orders in the BVI and associated criminal proceedings in Switzerland.

Representation of former managing director in first cartel prosecution for four years

Brian McDonald November 10, 2015 0 Comments

The firm represented Mr Snee, the former managing director of Franklin Hodge Industries. Nigel Snee pleaded guilty to an offence under the Enterprise Act 2002. The maximum sentence in respect of the cartel offence is five years’ imprisonment. However, on 14 September 2015, Mr Snee was sentenced to 6 months’ imprisonment, suspended for 12 months, […]

Prosecution discontinue proceedings against client charged with serious sexual offence

Brian McDonald November 10, 2015 0 Comments

Peters & Peters acted for a London businessman of good character who had been charged with a serious sexual assault. The proceedings were discontinued on the basis of representations made to the Crown by Peters & Peters on his behalf.

Acting for claimants in proceedings concerning breaches of directors’ duties

Brian McDonald November 10, 2015 0 Comments

Peters & Peters act for two British Virgin Islands companies, which were used as vehicles for a multi-million dollar investment in a Chinese Lottery project. The Claimants brought proceedings in the High Court against a former director and against an alleged shadow director for breach of fiduciary duty in failing to undertake adequate due diligence prior […]

Representation of an international investment bank

Brian McDonald November 10, 2015 0 Comments

Peters & Peters is acting for a global independent investment bank on an investigation into alleged accounting irregularities following a corporate acquisition. The client acted as advisor in relation to the transaction, which took place in 2011. The firm is advising in close conjunction with the client’s US legal representatives.

Acting for a defendant in a follow-on competition damages action

Brian McDonald November 10, 2015 0 Comments

Peters & Peters represented a global manufacturing company which was a defendant in a multi-million pound follow-on competition damages action commenced on the basis of the European Commission’s findings in relation to a cartel operating in the European market. The proceedings were settled on mutually acceptable confidential terms.

Advising corporate client on sanctions issues following change in corporate ownership

Brian McDonald November 10, 2015 0 Comments

The Company self-initiated an internal investigation for potential breaches of sanctions and export controls in both the United States and the United Kingdom, as a result of the discovery that there had been indirect supplies of its products to Iran, Syria and Sudan. The Company’s predecessors had undergone a number of significant corporate changes, resulting […]