No Longer Alone: Casting The Net Wider Through Standalone Mareva Injunctions In Hong Kong And Singapore

Introduction

In the globalized world that we live in today, it is not uncommon for parties to have assets situated all around the globe. Some parties deliberately choose to spread out their assets all over the world, to make it more difficult to go after their assets should any legal dispute arise in the future. To preserve the rights of parties pending judgment, the courts have from time to time deployed the powerful tool known as a worldwide Mareva injunction. A worldwide Mareva injunction is incredibly useful as it prevents a defendant from disposing his assets while court proceedings are ongoing. This is to ensure that if a plaintiff obtains a favorable judgment, the plaintiff will be able to enforce the judgment against the assets of the defendant, and will not be left with a mere paper judgment.