Fraud Insights: Findings Of Fact In Arbitration Form Basis Of Grant Of Freezing Order

In Great Station Properties SA and another v UMS Holding Ltd and others [2017] EWHC 3330 (Comm) the Commercial Court granted a worldwide freezing order over the defendant's assets in an attempt to secure enforcement of an arbitration award against the defendant exceeding US$305 million.

Endorsing the Court of Appeal's pronouncement of the test in Holyoake v Candy [2017] EWCA Civ 92, the Court recognised that whilst there must be a real risk, judged objectively, that a future judgment would not be met because of an unjustifiable dissipation of assets, it is not every risk of a judgment being unsatisfied which can justify freezing order relief. Solid evidence will be required to support a conclusion that freezing order relief is justified and precisely what this entails in any given case will vary. In...