What is a freezing injunction?

These used to be known as Mareva Injunctions and they prevent a party from disposing of assets or dealing with them in any way including hiding them or diminishing their value. The purpose of this order is to protect the assets until the case is finalised. The order has to state the maximum assets that are covered by the freezing order- it cannot be open-ended. These orders also generally only cover assets located in the England and Wales.
These injunctions can be used by claimants that are arguing that the respondent has property in their possession that belongs to the claimant or where the claimant is concerned that the respondent will dispose of assets in order to frustrate any money judgment.
Freezing injunctions are usually made without notice, since the element of surprise is usually needed to ensure that they are successful. The order takes effect as soon as it is granted and not just when it is served on the respondent.
A freezing injunction will affect respondents in the following way:
•    Access to their bank accounts can be restricted
•    There is often a requirement to disclose and fully detail assets to the claimant within hours of the order being granted
•    Day-to-day business transactions become a lot harder to complete for the respondent
A respondent is able to refuse to provide any information if it is likely to incriminate them in relation to a crime. However, it is advisable that you take legal advice before doing this to ensure it is the right approach.