Wills & Trusts Law Reports | Spring 2022 #186The parties entered into contracts whereby they exchanged specified quantities of cryptocurrencies, namely Tezos and Bitcoin, on terms of reciprocal restoration of the same amounts of each currency upon or after an agreed period of two years. The claimant applied to continue a worldwide freezing order and proprietary injunction. The defendant applied to strike out/enter summary judgment on the proprietary claims.
Held – applications granted in part
- 1) Principles:
- a) Fungible and non-identifiable digital assets constitute property ...
Rachel Elgar explains the ‘push payment fraud’ and how pursuing injunctions against ‘persons unknown’ can prove effective ‘As well as following any internal incident management regime, victims of fraud should immediately notify the police. They may be able to recover any stolen monies and potentially take criminal action against the fraudsters.’ Payments are described as …
Continue reading "Freezing orders: I ain’t got nobody"
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Katie Chew explains the lessons to be learnt from a decision of Mostyn J on how not to make a without notice application for a freezing order ‘The applicant has a high duty of candour when making an application without notice that, if breached, could lead to the order being discharged.’ In Tobias v Tobias …
Continue reading "Freezing Orders: Wrong court, wrong time, wrong reasons"
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Elizabeth Wiggin and Geraldine Elliott weigh up a recent case on freezing orders ‘The overriding consideration for the judge in deciding whether to maintain the freezing order was the interests of justice. He found that the injustice to the bank if the freezing order was discharged and the defendants were free to dissipate their assets …
Continue reading "Freezing Orders: The good, the bad and the frozen"
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Gwendoline Davies and Andrew Beck review recent cases on freezing orders and provide some practical advice ‘Freezing orders are obviously highly restrictive, but they should not be used oppressively. Respondents should not be forced to cease trading and they should be allowed to meet reasonable expenses.’A freezing order is an interim injunction which restrains a …
Continue reading "Freezing Orders: Coming in from the cold"
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Sarah Woodsford and Mary Gaskins summarise guidance and practice points on freezing orders in UL v BK (Freezing Orders: Safeguards: Standard Examples) ‘There has to be proof of an intention to dissipate, which means a deliberate or reckless dealing in relation to assets, rather than some random event unconnected to the motives of the respondent.’ …
Continue reading "Freezing Orders: A judicial warning"
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