Worldwide Freezing Injunction - How our panel can assist
What is a worldwide freezing injunction?
A worldwide freezing injunction is a legal order issued by the high court in England and Wales to prevent a party from disposing of or dealing with their assets worldwide. This type of injunction is often sought in cases where there is a concern that a party may try to move or dissipate their assets to avoid the enforcement of a judgment or to frustrate the claims of creditors.
The freezing injunction is designed to maintain the status quo by preventing the defendant from taking any action that would hinder the ability of the claimant to recover their judgment or damages. It essentially “freezes” the assets of the party against whom the injunction is granted.
Typically, a worldwide freezing injunction is sought in cases involving fraud, financial wrongdoing, or other situations where there is a risk that the defendant may attempt to hide or transfer assets to escape legal consequences. The injunction may be granted at the outset of legal proceedings or at a later stage when there is evidence of a real risk that the defendant may dissipate their assets.
Expert Commercial Law has access to an expert panel of solicitors who are highly experienced in dealing with worldwide freezing injunctions. If you would like more information or any assistance with your case, then please get in touch with us today to find out more.
Applying for a worldwide freezing injunction
Making an application for a worldwide freezing order is typically done through the English court system. A general overview of the application process is as follows:
- Seek legal advice from professionals experienced in worldwide freezing injunctions. They can assess the situation, provide guidance on the appropriateness of seeking a freezing injunction, and advise on jurisdictional considerations.
- Determine the jurisdictions in which the assets are located or where the party against whom the injunction is sought may have influence.
- Collect and prepare evidence to support your claim for a freezing injunction. This may include financial documents, evidence of wrongdoing, and information demonstrating a risk of dissipation of assets.
- Prepare a comprehensive application for the freezing injunction. This should include a clear presentation of the facts, legal arguments, and the specific orders you are seeking.
- Submit the application to the relevant court. Follow the procedural requirements and ensure that you meet any deadlines.
- Attend any court hearings scheduled to consider the application. Be prepared to present your case, including the evidence supporting the need for a worldwide freezing injunction.
- Serve the freezing injunction and related court documents on the party against whom the order is sought. This may involve coordination with authorities in different jurisdictions to ensure proper service.
- If assets are located in multiple jurisdictions, work with legal professionals to coordinate enforcement of the freezing injunction in those jurisdictions. This may involve obtaining recognition and assistance from foreign courts.
- Keep track of the party’s compliance with the freezing injunction and take legal action if there are any violations. This may include contempt of court proceedings.
It’s crucial to note that the process can be complex and may require careful consideration of international legal principles, treaties, and conventions. Seeking advice from legal experts with experience in cross-border litigation is highly recommended to navigate the complexities involved in obtaining and enforcing a worldwide freezing injunction.
What assets can be frozen?
In a worldwide freezing injunction, the court has the authority to freeze various types of assets owned or controlled by the party against whom the injunction is issued. The specific assets that can be frozen may depend on the jurisdiction and the wording of the court order, but they typically include:
- Bank Accounts: The court can order the freezing of bank accounts held by the party subject to the injunction. This includes both domestic and international bank accounts.
- Real Estate: The injunction may extend to real property, such as houses, land, or commercial properties, owned by the party in question.
- Investments: Investments, including stocks, bonds, and other financial instruments, may be subject to the freezing order.
- Business Interests: The court can freeze the party’s interests in businesses, partnerships, or other entities, preventing them from selling or transferring such interests.
- Intellectual Property: Intellectual property rights, such as patents, trademarks, and copyrights, may be included in the freezing order to prevent their disposal or transfer.
- Assets Held in Trusts: If the party has assets held in trust, the court may extend the freezing injunction to cover those assets.
- High-Value Items: Valuable items such as art, jewellery, and luxury goods may be subject to the freezing order to prevent their sale or transfer.
Freezing injunctions are a powerful tool for protecting assets, but they are not without their risks. If a freezing injunction is granted without proper justification and a ‘good arguable case’, it can be costly and embarrassing for the respondent. It is important to seek legal advice from a specialist freezing injunction solicitor before applying for a freezing injunction.
At Expert Commercial Law, our panel of solicitors have many years of experience in dealing with cases involving worldwide freezing injunctions. If you would like a free initial consultation to find out more about our services and how our experts can help you, then please get in touch today.
How can Expert Commercial Law assist?
Our panel of worldwide freezing injunction solicitors can assist parties in taking legal action against a defendant who might be at risk of dissipating assets.
Our panel firms provide guidance throughout the process and can help protect their client’s rights and interests. They can also help evaluate the strength of the case and advise on the best course of action. If you need help with a freezing injunction order, then please get in touch with us today.
Please note we are not a firm of solicitors; however, we maintain a panel of trusted and regulated legal experts. If you contact us in relation to a freezing injunction query or a commercial law case, we will pass your case on to a panel firm in return for a fee from our panel firms. We will never charge you for passing your case to a panel firm.
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Please note, we are not a firm of solicitors; however, we maintain a panel of trusted and regulated legal experts. If you contact us in relation to a commercial law case, we will pass your case onto a panel firm in return for a fee from our panel firms. We will never charge you for passing on your case to a panel firm.