The Court of Final Appeal has granted leave to appeal a decision of the Court of Appeal which upheld restraining orders made under section 213(6) of the SFO in aid of an insider dealing probe. The key findings of the Court of Appeal were: (i) that section 213(2)(c) of the SFO was sufficiently wide to encompass the grant of a Mareva type injunction; (ii) an injunction under section 213 did not require an underlying claim as the jurisdictional basis was found in section 213 itself; and (iii) relief available in section 213(2) was entirely free-standing and was not contingent or conditional on there being proceedings in the Market Misconduct Tribunal (further, the case of Mercedes Benz AG v Leiduck  1 AC 284 did not apply to injunctions specifically created by statute).
Register Now As you are not an existing subscriber please register for your free daily legal newsfeed service.Register
If you have any questions about the service please contact email@example.com or call Lexology Customer Services on +44 20 7234 0606.
Court of Final Appeal to consider the scope of section 213(6) of SFO to grant injunctions in aid of SFC investigations
- Freshfields Bruckhaus Deringer LLP
- Royce Miller, Melissa Thomas, Richard Chalk, Lea-Anne Lee and Georgia Dawson
- Hong Kong
- February 17 2010
If you are interested in submitting an article to Lexology, please contact Andrew Teague at firstname.lastname@example.org.
“I enjoy the CLANZ newsstand and find it highly relevant to my job. I definitely have forwarded various articles to my colleagues on occasion where there is a point of general interest, particularly employment or IT law. I...
“I enjoy the CLANZ newsstand and find it highly relevant to my job. I definitely have forwarded various articles to my colleagues on occasion where there is a point of general interest, particularly employment or IT law. I really appreciate the service, it's a quick way for me to keep up to date in a way I wouldn't otherwise have time to.”