12 April 2012
The private equity firm Warburg Pincus's dispute with the founder of a Bulgarian regional cable player over a Side Letter became the subject of English legal proceedings. The Court of Appeal delivered its judgment in the proceedings on 7 February 2012, following a one-day trial. The proceedings are reviewed by us in our Publications section.
Asset tracing and fraud: Use of evidence from parallel criminal proceedings in a civil trial
Over the last year, we have assisted the victims of a multi-million dollar large-scale international fraud. Certain of the scheme’s operations were embedded in Bulgaria’s thriving business process outsourcing (BPO) ecosystem.
As part of our representation for clients, we have pursued a claim in a regional Bulgarian court (the organisers of the fraudulent scheme having transferred the registration of the relevant entity to a disused building in that location). We were pleased to obtain a very helpful intervention from the court at first instance including an order to append files containing a substantial amount of evidence generated through a criminal investigation into the fraud to the civil case. This provides rich evidential pickings for proceedings which are either already being conducted or are being contemplated in a range of international jurisdictions as well as Bulgaria.
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