Freezing Orders and Asset Protection

What risks are there applying for a freezing order?

If your application for a freezing order is unsuccessful you are likely to be ordered to pay your spouse’s legal costs relating to the application, as well as your own, so these applications must be considered very carefully before they are made. You are likely to have to undertake (promise) to the court to pay any costs incurred by your spouse or a third party as a result of the granting of a freezing order and to compensate anyone who incurs financial loss as a result of the freezing order.

I have been served with a freezing order – what do I do?

You need to seek urgent advice from a specialist matrimonial lawyer.

I am worried that my spouse is getting rid of assets

Getting divorced can be a very stressful time for many. When stressed, people can behave irrationally. This behavior can include attempting to getting rid of assets in the hope of reducing their spouse’s financial claims within the divorce.

If you are genuinely concerned that your spouse is about to transfer assets out of the jurisdiction or give assets to friends and family, and you have evidence to support this concern, you can apply for a freezing order, which will prevent your spouse from disposing of their assets. For example you can have bank accounts frozen. You can also freeze something that your spouse has not yet received, such as the proceeds of sale of their property if a sale of the sale of the property has already been agreed and completion is to take place shortly.

What happens If I disobey a freezing order?

You can be sent to prison and/or fined if you breach a freezing order, so it is very important that you seek specialist legal advice as soon as you are served with said freezing order.

Will a freezing order cover assets abroad?

A freezing order can cover assets abroad, but only where the courts in the country where the assets are situated will cooperate with that freezing order.