Larkfield Ltd v RCPO

Administration and appeals: Scope of confiscation order

The decision in Larkfield Ltd v RCPO (CA – 12 May) follows on from the HL decision in R v May HL [2009] STC 852 where the HL upheld a confiscation order of more than £3 000 000 on a company director (M) under Proceeds of Crime Act 2002 s 6. Following this decision the RCPO sought to treat a flat in London as one of M's 'realisable assets' for the purposes of the confiscation order. M opposed the claim contending that the flat was owned by a limited company (L) and that it should not be treated as a 'realisable asset' since it had not been purchased by the 'proceeds of crime'. The QB gave judgment for the RCPO holding that the flat was 'relevant realisable property' of M but the CA allowed L's appeal...