Celtic fraud charge dismissed

The charge of conspiracy to defraud against Stephen Davies QC, an eminent commercial practitioner, and five other defendants was dismissed by Hickinbottom J at Cardiff Crown Court on 18th February 2014.

The SFO case alleged a dishonest transfer to BVI shell companies of obligations to restore four open-cast mines in South Wales amounting to £150m, in which an advice by the QC was wrongly alleged to have been critical to the scheme.

Guy Ladenburg acted as junior counsel to Mr Davies QC, led by Richard Horwell QC, Tim Barnes QC from 7 Bedford Row, Jonathan Caplan QC from 5 Paper Buildings and Tim Morshead QC from Landmark Chambers, instructed by Speechly Bircham.

18th February 2014