A freezing order will restrain an individual from dealing with or disposing of their assets. It can also be used to freeze bank accounts, investments and property.

A court may be willing to make a freezing order if it thinks the person is likely to try to hide or dispose of their assets before a case is decided.

Once an order is made, the respondent must provide a comprehensive list of all assets and liabilities within seven days. They are also prohibited from transferring or disposing of assets without the court’s permission. The frozen assets will remain under restraint until the case has been resolved or the order discharged.

While freezing orders can be invaluable in divorce cases, they are not without risks. They can restrict the movement of money and property and significantly impact day-to-day life and business operations.

Parties should therefore approach any application for a freezing order with caution, bearing in mind that if it is granted, there will be consequences.

It is also important to remember that the court will expect full disclosure if a freezing order is granted. This often involves providing access to financial records and information, which can be time-consuming and costly.

In addition, freezing orders are not always successful in achieving an amicable settlement. If the underlying dispute goes to court, it can be long, complex, and costly.

At Austin Kemp Solicitors, we understand the complexities of such orders and have extensive experience in this area. Our expert team provides reliable advice and guidance to ensure that you make the right decisions for your case.