Fighting International Fraud

First published in New Law Journal, July 2021.

Appleby partners Anthony William and Jared Dann and Counsel Claire Corkish join partner & head of civil fraud and asset recovery at Pinsent Masons, Alan Sheeley and Emilie Jones to discuss the key role of third-party disclosure to tackle offshore fraud.

A recent decision of the Court of Appeal of the Cayman Islands (CICA), Essar Global Fund Ltd & anorv ArcelorMittal USA LLC (3 May 2021, CICA (Civil) Appeal No 15 of 2019), highlights the power of a key investigative tool for victims of fraud involving offshore jurisdictions, the Norwich Pharmacal order (NPO).

The CICA confirmed that the Cayman courts have jurisdiction to grant an NPO in support of potential proceedings in a foreign court, such as the UK courts. This is an issue which has been the subject of debate under English law. The Cayman approach is of significant assistance in the fight against fraud perpetrated using vehicles in offshore jurisdictions,