Introduction And Practical Tips On Mareva Injunction

The Executive Committee of ACC Hong Kong  invites you to the following presentation, hosted by W. K. To & Co.

TOPIC:  Introduction and Practical Tips on Mareva Injunction

What should you do when your company is in litigation with another company and there is evidence that the other company is dissipating its assets in order to make itself “judgment-proof”? How your company may recover its assets when it is a victim of a fraud? Suppose you find your company’s bank accounts were “frozen” because your business partner has obtained an injunction from the Court and made allegations against your company. What your company may do in order to discharge the injunction or at least alleviate the hardship caused by the injunction? All these are topics for a Mareva Injunction.

A Mareva Injunction, also known as a freezing order, prohibits a defendant to deal with or dispose of his assets up to a specific limit. It has been described by the Court as a “nuclear weapon” in legal armoury given its draconian and intrusive nature.

This training course is designed to enhance the attendees’ knowledge of the core fundamentals of Mareva Injunction. The seminar will provide a quick guide to the law and practice relating to the application for a Mareva Injunction.  The speakers will discuss the obligations owed by an applicant to the Court during the ex parte application for a Mareva Injunction and will also consider the consequences of a breach of those obligations. They will also go through the steps which may be taken by a defendant to challenge a Mareva injunction.

The seminar will cover:

• What is Mareva Injunction
• The legal principles for granting a Mareva Injunction
• The important duty of full and frank disclosure
• The need to give an undertaking to pay damages and fortification
• Disclosure of assets by the Defendant
• Trouble-shooting areas