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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But the document was "an obvious and poor forgery," according to Mr Justice Eder and Templeton then applied for - and were granted - a freezing injunction.
In his judgement last month, Mr Justice Eder stated: "There is no suggestion that any monies or other tangible assets belonging to Motorcare were actually disposed of or dealt with contrary to the freezing injunction.
However, Templeton contends that this transfer of Motorcare's business was a breach of the freezing injunction, since it involved the 'disposal of' and/or 'dealing with' Motorcare's assets (in particular its goodwill) and that this took place with the knowledge and involvement of Mr Anthony Thomas and Mr Panesar.
He also ruled Mr Panesar was in contempt of court in his position as director of Motorcare in "wilfully failing to take reasonable steps to ensure that the freezing injunction was obeyed".
less immediate remedies in the form of freezing injunctions.
Court's decision to forbid freezing injunctions only where the
grant freezing injunctions in a variety of cases, but limit the freeze
Panesar was handed a nine-month jail term last year for establishing Motorcare Elite in defiance of freezing injunctions.
In addition, we are seeing an increase in applications for more aggressive actions such as freezing injunctions and search and seize orders.
Harbinder Singh Panesar was handed a nine-month term by Mr Justice Eder at London's High Court for establishing a new motor insurance company, Motorcare Elite, in defiance of court freezing injunctions.
In this context, I wish to make public that the justice ministry of Cyprus has denied judicial assistance to the Greek criminal justice authorities illegally and in violation of international treaties to which Cyprus is a signatory, thus preventing the summoning of Andri Antoniades and Antonis Glykis … regarding the untruthful statements on which the freezing injunctions were based," he said.
A BUSINESSMAN who became a celebrity on MTV after bankrolling his teenage daughter's birthday party extravaganza has been jailed for "substantial and serious" breaches of court orders Harbinder Singh Panesar was handed a nine-month term by Mr Justice Eder at London's High Court for establishing a new motor insurance company, Motorcare Elite, in defiance of court freezing injunctions.