What does asset freezing mean?

Definitions for asset freezing
as·set freez·ing

Here are all the possible meanings and translations of the word asset freezing.

Freebase

  1. Asset freezing

    Asset freezing is a legal process which prevents a defendant to an action from dissipating their assets from beyond the jurisdiction of a court so as to frustrate a potential judgment. It is widely recognised in other common law jurisdictions and such orders can be made to have world-wide effect. It is variously construed as part of a court's inherent jurisdiction to restrain breaches of its process. The legal order itself is in the form of an injunction, which in Commonwealth jurisdictions is also known as a freezing order, Mareva injunction, Mareva order or Mareva regime, after the case Mareva Compania Naviera SA v International Bulkcarriers SA [1975] 2 Lloyd's Rep 509, decided in 1975, although the first recorded instance of such an order in English jurisprudence was Nippon Yusen Kaisha v Karageorgis in 1975, decided very shortly before the Mareva decision; however, in the UK the Civil Procedure Rules 1998 now define a Mareva order as a "freezing" order. Asset freezing is not a security, nor a means to pressure a judgment debtor, nor is it a type of asset forfeiture since it does not confer upon anyone else a proprietary interest in the defendant's assets. However, some authorities have treated the Mareva injunction as an order to stop a judgment debtor from dissipating his assets so as to have the effect of frustrating judgment, rather than the more strenuous test of requiring an intent to abuse court procedure. An example of the former would be paying off a legitimate debt, whereas an example of the latter would be hiding the assets in overseas banks on receiving notice of the action.

How to pronounce asset freezing?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say asset freezing in sign language?

  1. assetfreezing

Numerology

  1. Chaldean Numerology

    The numerical value of asset freezing in Chaldean Numerology is: 7

  2. Pythagorean Numerology

    The numerical value of asset freezing in Pythagorean Numerology is: 1

Images & Illustrations of asset freezing

  1. asset freezingasset freezingasset freezingasset freezingasset freezing

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"asset freezing." Definitions.net. STANDS4 LLC, 2020. Web. 22 Jan. 2020. <https://www.definitions.net/definition/asset+freezing>.

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