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State Prosecutor Orders Criminal Investigation against Silverpoint

It was announced through an official court notice on 16 September 2019, that an agreement was reached to open summary proceedings against Silverpoint and its administrators. This is the first stage of an investigation into possible criminal acts by the company Silverpoint and the administrators, into possible obstruction of justice. The Judge and the Justice Department both agreed that there were serious indications of obstruction and that an investigation should be launched.

The decision for the investigation was reached following the constant filing of complaints by lawyers of Canarian Legal Alliance against Silverpoint’s attitude to disregard orders by the courts to ensure payments to CLA clients which they are obligated to honour on the conclusion of their cases. It also involves Silverpoint’s failure to follow the court’s requirements to produce the information needed for the embargo on assets.

The State Prosecutor for Tenerife is acting in direct response to the constant complaints and allegations by Canarian Legal Alliance that Silverpoint and its administrator’s conduct is prejudicial to justice. This move is made solely against Silverpoint and its administrators.

As this is a very serious matter, those accused do face the possibility of sentences of up to four years in jail. This conduct can be observed in all enforcement proceedings which is a situation that will have the effect of speeding up the criminal proceedings and hopefully lead to convictions of those involved.

Canarian Legal Alliance is committed to upholding the interests of all our clients and ensuring they receive what the courts have ordered. We will be keeping all our clients updated on further developments through our news page as and when they happen.

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