The Serious Fraud Office and Robert Tchenguiz announce settlement of civil claims
31 July, 2014 | News Releases
Further to its announcement on 25 July 2014 of a settlement with Mr Vincent Tchenguiz and his business interests, the Serious Fraud Office announces that it has now settled the remaining civil damages claims brought by Mr Robert Tchenguiz, R20 Limited and his Trustee, Rawlinson & Hunter Trustees SA, arising from his arrest and the searches of his home and business premises in March 2011.
On 31 July 2012, following a judicial review, the High Court quashed the search warrants and was highly critical of the SFO’s conduct to the extent that, in November 2012, the SFO was required to pay Mr Robert Tchenguiz and his business entities’ costs for those public law proceedings on the indemnity basis.
The SFO has now agreed to pay Mr Robert Tchenguiz, R20 and the Trustee the total sum of £1.5 million in full and final settlement, with costs to be determined by the Court if they cannot be agreed. The Director of the SFO, David Green CB QC, said: “I am pleased that we have been able to resolve this final outstanding matter, without the need for a costly trial. As I said when Mr Vincent Tchenguiz accepted our offer last week, the SFO deeply regrets the errors for which we were criticised by the High Court in July 2012. On behalf of the SFO, I also apologise to Robert Tchenguiz for what happened to him. I reiterate that the SFO has changed a great deal since March 2011, and I am determined that the mistakes made over three years ago will not be repeated.”
The settlement of these claims means that the civil damages actions against the SFO relating to the searches and arrests of Vincent and Robert Tchenguiz are concluded and the trial scheduled to commence in October 2014 will not now take place.
Notes to editors:
1.The SFO will pay the settlement sum of £1.5m within 14 days .
2.For the judicial review judgment made in July 2012, please click here.