Prison For Directors Breaching A Freezing Order

A freezing injunction is an order granted under Rule 7.16 (f) of the Isle of Man Rules of the High Court of Justice 2009 either restraining a party from removing assets from the jurisdiction, or restraining a party from dealing with any assets whether located within the jurisdiction or not (known as a "worldwide freezing order").

It is commonly applied for in situations where there is a fear that the assets of a defendant will be removed to avoid the enforcement of any judgment obtained by the claimant. The decision whether or not to grant a freezing injunction lies largely at the discretion of the Deemster, and at section 42 (1) of the High Court Act 1991 it says that an injunction will be granted in cases where "it appears to the court to be just and equitable to do so". Once a freezing order has been granted it is important that the details of the order are fully understood and consequently that no breach of the injunction are inadvertently committed by