Crown Prosecution Service v Aquila Advisory Ltd

Company – Fraudulent trading. When the respondent company, which had acquired the choses in action and property rights of VTL, from its liquidators, was given priority over the appellant Crown Prosecution Service in a proprietary claim to the funds, the CPS appealed. The Court of Appeal, Civil Division, in dismissing the appeal held that the constructive trust in favour of the VTL was not rendered unenforceable by the ex turpi causa rule or some other available principle of illegality or public policy.

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