freezing injunction

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freezing injunction

a court order which restrains someone from removing or dealing with their assets. This can be by way of an interim order and is referred to as a ‘freezing injunction’. These were formerly known as Mareva injunctions a form of injunction, named after the case in which it was first granted, under which the court could freeze the assets of a resident or non-resident debtor where the debtor has gone abroad but still has assets in England. A provision could be inserted to protect third parties abroad by way of preventing the order having effect until the injunction is approved by the foreign court, such a provision being known as a Babanaft proviso after the case in which it was first allowed. The procedure is now set out in rules of court. To obtain a ‘freezing injunction’ the creditor must present a good arguable case, showing that there is a real risk of dissipation and that the order is appropriate on the balance of convenience between the parties. The order imposes limitations on what a debtor can do with their assets but provisos maybe permitted to allow the addressee to continue to trade or maintain a lifestyle. The creditor must identify a cause of action and demonstrate that there is a real risk that the debtor is or may be in the process of dealing with their assets.
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In law, a mareva injunction leads to freezing of assets and is issued to protect a plaintiff where there is threat that the assets may be removed from jurisdiction.The injunction will restrain the Zakhem firms and KPC ".
The Mareva injunction, the favored weapon of claimants before the
(102) This is because the Mareva injunction does not seize
Mareva injunction is that a court that is convinced its order will be
On the other hand, the genesis of the Mareva injunction in England lies in caselaw.
(29) Although moving parties also have the discretion to obtain a Mareva injunction at any point in legal proceedings, its effect is obviously strongest when obtained ex parte.
Norwich orders are often granted in conjunction with other similar litigation-affiliated equitable remedies: Mareva injunctions (to identify and locate assets), Anton Pillar orders (to identify and locate evidence for preservation) and Bankers' Trust orders (to trace and preserve assets in which the wronged party has a proprietary interest).
With most Mareva injunctions, there is also a supplementary discovery order.