May 21, 2014 / 9:57 AM / 4 years ago

UK regulator wins appeal for key fraud case to go to trial

LONDON, May 21 (Reuters) - Britain’s financial regulator on Wednesday won an appeal against a court decision to throw out a landmark fraud case because some of the defendants had been unable to find lawyers willing to represent them in court.

The Court of Appeal said the previous ruling involved errors of law or principle and was not reasonable.

The Financial Conduct Authority welcomed the decision, said it was committed to pursue criminal action in appropriate cases and was pleased the case could now proceed to trial.

A Crown Court decision this month to dismiss the case brought FCA over an alleged land-banking scam has become the focus of a heated debate over Britain’s legal system and a row over barristers’ pay after legal aid rates were cut by 30 percent for so-called Very High Cost Cases. (Reporting by Kirstin Ridley, editing by Steve Slater)

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