I am concerned about the dissipation of assets following/during a dispute, what should I do?

If you are worried that your opponent is about to get rid of valuable property or money so that you cannot get justice, you can apply to court to stop this happening. If the court considers that you have a good, arguable case, it may grant you a freezing injunction. This is an interim order that ‘freezes’ your opponent’s assets so that they cannot dispose of or use them until the main dispute is resolved. ‘Assets’ can include bank accounts, land, motor vehicles, shares, bonds and other financial instruments. If it is money you are concerned about, copies of the injunction can be sent to your opponent’s bank so that they can only withdraw such funds as are needed to cover reasonable living expenses.

A freezing injunction can be a very useful strategic tool. It ensures that if your claim ultimately succeeds, your opponent will have assets against which a judgment in your favour can be enforced. As in all injunction applications, it is important to act quickly, since the court will take into account any undue delay on your part when considering whether to grant a freezing injunction. Vardags can assess the merits of your case and advise you whether a freezing injunction is an appropriate way forward and if so, help you to gather the evidence you will need to make an application to court.

If you need advice or representation on any Corporate Law matter, click below for a free initial consultation with one of our expert Corporate solicitors.

BOOK MY FREE CONSULTATION