ISLE OF MAN COMPANY THREATENS TO SEIZE PAKISTAN CRICKET TEAM’S ASSETS OVER DISPUTE

An article in The Wire in India on 30 July reported that the Pakistani team is facing a threat of a different kind from a company based in Isle Man, which has threatened to seize the team’s assets over its dispute with Pakistan. It is said that the company had won an arbitration case against the state of Pakistan and ahs reportedly sought court orders instructing professional bailiffs “to seize the assets of the Pakistani cricket team”. The team is currently in the UK preparing for a Test series against England. Pakistan had hired the company in 2000, a year after a military coup, to investigate corruption allegations against public officials, and with the task to help track down assets of politicians, generals and officials in the US and UK at its own expense – in return for 20% of any sums recovered from the designated targets. The company was formed in the Isle of Man, but entered liquidation proceedings in the Isle of Man in 2005, before being dissolved and then revived.

https://thewire.in/business/uk-company-threatens-to-seize-pakistan-cricket-teams-assets-over-dispute-with-state

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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