In a recent landmark case, Crown Prosecution Service v Aquila Advisory Ltd [2021] UKSC 49, the Supreme Court rejected the CPS’s argument that the company was debarred from claiming the assets on the grounds that this involved seeking to profit from the proceeds of crime. This article considers the case and explains the facts behind, as well as the reason for the outcome.
Having not been successful in the High Court and Court of Appeal, the CPS raised two key arguments in the grounds of appeal before the Supreme Court:
1. VTL had not suffered a loss and was instead seeking to recover (and benefit from) the proceeds of its directors’ crime. As the directors were the controlling minds of VTL the conduct and ...
