Court of Appeal throws up exceptions to freezing orders
THE English courts have the power to grant a “freezing order” preventing a party from dissipating assets or removing them from the jurisdiction in aid of the enforcement of an arbitral award. In Mobile Telesystems Finance SA v Nomihold Securities Inc [2011] EWCA Civ 1040, the Court of Appeal considered whether such a freezing order ought ordinarily to contain an exception enabling the party against whom the order is made to make payments in its “ordinary course of business”.
This article appeared in Lloyd's List on Wednesday 26th October 2011
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