We use cookies to deliver our online services. Details of the cookies we use and instructions on how to disable them are set out in our Cookies Policy. By using this website you agree to our use of cookies. To close this message click close.

Loophole in freezing order closed off

11 December 2015

Hogan Lovells

Hogan Lovells' London litigation team has secured a landmark victory in the UK Supreme Court, closing off a loophole in the English standard form freezing order.



The UK Supreme Court held that defendants subject to an English freezing order will no longer be able to direct the payment of loan proceeds, even if those monies never come into their own hands, as those proceeds are "assets" within the meaning of the freezing order.

Although the wording of the Hong Kong standard form freezing order differs from the English wording, this robust and pragmatic decision safeguarding the effectiveness of the freezing order regime provides useful guidance that, in appropriate cases, the Hong Kong courts can be asked to ensure Hong Kong freezing orders apply the intended effect of the English standard form.
Loading data