Government Investigations & White Collar Crime

In P Ltd & Otr v R Ltd (judgment dated 24 November 2020), the Isle of Man High Court of Justice was faced with a recent development to the Proceeds of Crime Act 2008 (the “Act”) which forced the Court to conduct a difficult balancing exercise between the desire for open justice and the need to protect the integrity of Isle of Man investigations into suspected money laundering. This statutory development, not mirrored in the English equivalent act, has brought significant change to the law on so call ‘tipping off’.

The Facts

The Claimant previously had obtained a Freezing Injunction and Norwich Pharmacal (Disclosure) relief (“NPO”) against the Defendant Corporate Service Provider to support its enforcement of a monetary judgment against an individual, who claimed to be the beneficial owner of a company, administered by the Defendant.

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