On 13 November 2007 a confiscation order was made against Dr Smith in the sum of £40,956,911 which arose from the misappropriation of monies from Izodia plc. Dr Smith, through extensive civil litigation, was instrumental in recovering both monies and assets that form the subject matter of the Directed Trial CL-2017-000323. Daniel Godden of Berkeley Square Solicitors on behalf of Dr Gerald Smith said that;

‘whilst the extent of that recovery is unclear due to the claims made by various third parties it is anticipated by all that a substantial sum will be paid against the confiscation order in due course. However, on any view, the sums recovered will be inadequate to meet the confiscation in full and on that basis a certificate of inadequacy will be granted once the settlement is executed’.

Daniel Godden

Partner

Berkeley Square Solicitors

2nd February 2021