Following its acknowledgment that dawn raids on Vincent Tchenquiz’s properties were improper, the SFO is facing a damages claim of more than £100m; however, lawyers for the SFO have asked for a move to throw out the case to be rejected, claiming that irregular aspects of the inquiry need to be thoroughly investigated.
James Eadie QC said: “The various relationships between those involved…need to be considered with care given in particular the realities of who was in truth directing the commercial transactions in question.
“It will be necessary to stand back form the intricacies of some of the transactions and relationships, and to view the lending and other transactions between…Kaupthing and the businesses owned by Robert and Vincent Tchenguiz. A series of irregular or unusual features could and should prompt a thorough investigation.”
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