24 July 2008
Serious Fraud Office v Lexi Holdings plc [2008] EWCA Crim 1443, [2008] All ER (D) 149 (Jul)
Under s 69(2)(c) of the Proceeds of Crime Act 2002, if the court can see that a confiscation order, existing or prospective, relates to an amount which the defendant has ample assets to meet, then it may be that a debt to a third party creditor can properly be allowed to be paid from the restrained assets.
However, where there is a conflict with the object of satisfying any confiscation order that has been or might be made, a restraint order may not be varied so as to allow for the payment of a debt to an unsecured creditor.
