Freezing orders and asset protection
Safeguarding marital assets
Giving you confidence and financial security
Divorce can be an incredibly stressful time, leading to irrational behaviour such as trying to dispose of assets to reduce a spouse’s financial claims during the divorce. If you genuinely fear that your spouse might move assets out of the country or transfer them to others, and you have evidence to support your concerns, you can seek a freezing order which will prevent your spouse from disposing of their assets, which includes freezing bank accounts. It can also apply to assets your spouse has yet to receive, like the proceeds from the sale of a property that is pending completion. The freezing order ensures that the assets are preserved until the divorce settlement is reached.
What is a freezing order?
A freezing order, also known as a freezing injunction, is a legal order issued by a court during divorce proceedings to prevent one or both parties from disposing of or dissipating their assets. Its primary purpose is to safeguard the marital assets and ensure that they are preserved until a final resolution is reached regarding the division of property and finances in the divorce.
A freezing order is typically requested when there is a concern that one party might attempt to transfer, sell, or hide assets to avoid their inclusion in the divorce settlement or to deprive the other party of their fair share. By obtaining a freezing order, the court effectively “freezes” the assets, preventing any unauthorised transactions or transfers without the court’s permission.
What do they cover and how do I get one?
Freezing orders can apply to various types of assets, including bank accounts, properties, investments, and other valuable possessions. They may be temporary, lasting until a specific court hearing, or they can be in force until the final financial settlement is reached.
To obtain a freezing order, as the applicant you must demonstrate to the court that there is a legitimate risk of assets being dissipated or disposed of unjustly. The court will carefully consider the evidence and decide whether the order is necessary and appropriate to protect the parties’ interests during the divorce proceedings both in this jurisdiction and worldwide.
How Jones Myers can help
Our expert family lawyers have decades of experience in advising clients whose former partners are trying to conceal money and property that should form part of the divorce settlement. Our goal is to prevent you from losing out financially and to ensure you receive a fair financial settlement so you can move on with your life.
We also advise clients who are the subject of Freezing Injunctions on how they can best work within the constraints of the order and also, where appropriate, look to discharge any such order. If you wish to discuss making a freezing order application or have been served with one, please contact our specialist financial remedies team.