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June 15, 2010updated 12 Apr 2017 11:55am

Captive close to recovering stolen cars

A motor finance captive company is struggling to recover its six high-value vehicles after they were illegally transported to a foreign jurisdiction, Motor Finance has learned. Roger Potgieter, the motor finance partner at law firm Shoosmiths, which is assisting the captive, said the motor finance client has managed to get the port authorities in Northern Cyprus to hold the vehicles, even though the alleged fraudsters have demanded their release.

By Antonio Fabrizio

A motor finance captive company is struggling to recover its six high-value vehicles after they were illegally transported to a foreign jurisdiction, Motor Finance has learned.

The captive’s anti-fraud team has managed to track them through Germany into Northern Cyprus, where the vehicles are currently being held.

Roger Potgieter, the motor finance partner at law firm Shoosmiths, which is assisting the captive, said the motor finance client has managed to get the port authorities in Northern Cyprus to hold the vehicles, even though the alleged fraudsters have demanded their release.

The law firm has been able to obtain an injunction preventing the port authorities from releasing the vehicles while the case is ongoing. According to Potgieter, getting the injunction was only possible thanks to the law firm’s contacts with a local legal practice.

He said: “The way we can do that is through a network of legal connections throughout the world. We don’t have offices in Cyprus but we are able to liaise with lawyers over there to get the necessary processes in that jurisdiction under way to protect our client.”

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