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Account Freezing Order

30.05.2019

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Bark&co were successful in an application to set aside an Account Freezing Order (“AFO”) against our client.

The case originally started on 1st May 2019 when Her Majesty’s Revenue & Customs (“HMRC”) applied to freeze the bank account of our client, W. Ltd, under s.303Z1 Proceeds of Crime Act 2002 (“POCA 2002”), on the basis of what HMRC viewed our client’s banking activities as “suspicious activity”. The bank account contained some £2.3 million which had been invested by a number of individuals to be applied to our client’s new company.

As instructed solicitors in the case we immediately opposed the application and subsequently applied under s.303Z4 POCA 2002 for the AFO to be set aside. The case involved significant evidence gathering to rebut the assertions of HMRC and substantial consideration and application of the law in this relatively new area. However, Bark&co are delighted that in the space of one month we were able to apply and succeed in this AFO being set aside for our client and enable the company to continue trading.

Bark&co have the expertise and experience in handling cases of this kind and specialise in fraud, regulatory & asset protection.