Freezing Orders and Restraining InjunctionsEarly Contract and Charterparty Review (Part 12 of Economic Crisis Series)
Freezing injunctions Part 12 of our series on how to deal with an economic crisis – a guide for international businesses. Aiden Lerch, an Associate with ZFZ discusses freezing Injunctions in the English Courts. Freezing Injunctions are considered the “nuclear weapon” of the English Court. If successful, the restraint on the liberties of the injuncted person or business are severe. Typically, the Respondent (once served with a freezing order) is required to make a complete list of their assets, and can only use those assets in a very limited manner going forward. Going for a freezing order will almost certainly represent a significant escalation in the process of obtaining security. Normally these applications are used where there is a real prospect that the Respondent is trying to dispose of its assets; the moment for inter-partes dialogue has passed Applying for a freezing order requires a party to act quickly, aggressively and with detailed submissions. Aiden talks us through that detail. If you have a question about freezing orders, please contact Aiden or your normal ZFZ contact.