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A Mareva order, or freezing order, can freeze the assets of an individual or company Defendant to a Claim. The respondent to a freezing order, or Mareva order, application can also be a third party. Another party may be the respondent where that party: in any way controls assets of the Defendant(s); or.
Mareva Injunction is also known as freezing orders; this is because the fundamental principle of this writ is to freeze the assets of the defendant. These orders are interlocutory orders and are even granted ex-parte, as they are passed to restrain the defendant from dissipating the assets.
It is well established that, to determine whether an injunction is ?just and proper,? courts apply the ?familiar set of four equitable factors: the movant's likelihood of success on the merits; the possibility of irreparable injury to the moving party; the extent to which the balance of hardships favors each party; and ...
Further a proviso was added in Rule 3 which provided that where it is proposed to grant an injunction without giving notice of the application to the opposite party, the Court shall record the reasons for its opinion that the object of granting the injunction would be defeated by the delay and require the applicant to ...
A freezing order (formely known as Mareva injunctions) is an interim injunction prohibiting a potential defendant in criminal or civil litigation proceedings from dissipating assets. Typically, such an injunction is sought to preserve a defendant's assets until a judgment can be obtained.