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UK: Egyptian Ministry of Justice Disputes Assets Frozen in UK

April 24, 2012 9:28 AM | Print this page |

The Egyptian Ministry of Justice has accused British authorities of violations of the UN Convention against Corruption and an EU regulation on the freezing of assets and has publicly criticised the UK for failing to co-operate with Egyptian attempts to repatriate frozen assets.

13 months ago the UK Treasury's Asset Freezing Unit froze £85 million in assets belonging to 19 Egyptians including former President Hosni Mubarak. Egypt alleges that the UK has refused to provide information needed for the recovery of these assets and, in March 2011, Egypt filed proceedings against the UK Treasury.

The allegations of non co-operation are denied, with a spokesman stating that the Treasury is "co-operating with the Egyptians within the British laws". The Treasury has refused to comment on any judicial proceedings or the allegation of violations of the UN Convention and EU Regulation.