There are times when divorce and separation may result in a conflict over finances, and in some situations, one of the parties may seek to conceal, transfer, or even sell assets to ensure the other party does not get a fair share. In such a case, a court is able to impose a Freezing Order to prevent such acts and safeguard the just financial interest of both parties.
A Freezing Order (also known as a Freezing Injunction) is a court order that temporarily prevents an individual from selling, transferring, or disposing of assets. It provides a guarantee that the property, money, or investments will not be destroyed until the court determines the proper way they are to be divided.
This form of order may be used with any broad variety of assets, such as:
A Freezing order is mainly meant to conserve assets that otherwise could be lost or abused in a divorce or financial process.
Freezing Order is mostly ordered when there is clear indication that one of the spouses is trying to transfer or sell property to lower the financial claim of the other. In the case of a partner taking off with vast amounts of money to a foreign country, selling a house at a price lower than the market or joint savings, which are withdrawn without authorization, then immediate litigation could be required.
Depending on the situation, the order may be made on assets located in the UK or abroad. Nevertheless, such order will only be granted by the courts in cases where there is a significant evidence that assets would indeed be lost or dissipated.
A Freezing Order application has to be filed to the family court, most likely on an urgent basis. Your solicitor will have to prove that:
In case the court is pleased, it will grant the order there and then, usually without informing the other party (called ex parte application). The person is legally barred to transact business with the frozen assets until the case is solved.
We recognize the importance of moving fast in situations where assets are at stake at First Law solicitors. The qualified and seasoned family law practitioners will assist in collecting evidence and the requisite documentation, with the issuance of Freezing Order to protect your interests.
We also work with clients that have received a Freezing Order in place, and we make sure that their interests and rights are not violated during the process.
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