Jersey's Approach To Asset Freezing – Cross Border Cooperation

One of the ways in which the Courts of Jersey maintain the reputation and integrity of the island as an international finance centre is by granting freezing injunctions, in appropriate circumstances, to provide support to overseas courts.

In the leading case of Solvalub Ltd v Match Investment Ltd [1996] JLR 361, the Jersey Court of Appeal aptly explained the policy behind Jersey's approach to freezing injunctions in the following way :

'…the availability of the relief is desirable in the interests of comity with the courts of other countries and in the interests of Jersey’s reputation as a financial centre.' per Le Quesne, J.A at (page 369, line 22 – page 370, line 45).

Solvalub is now some 30 years old. However, this sentiment holds true today.