FM Capital V Marino & Ors: Freezing Orders

Judge considers whether freezing order covered assets held by company of which the respondent was the sole director and shareholder

The claimant obtained a freezing order against the defendant which provided that it covered all the defendant's assets "whether or not they are in his own name and whether or not they are solely or jointly owned and whether the respondent is interested in them legally, beneficially or otherwise. For the purpose of this order the Respondent's assets include any asset which he has the power, directly or indirectly, to dispose of or deal with as if it were his own. The Respondent is to be regarded as having such power if a third party (which shall include a body corporate) holds or controls the asset in accordance with his direct or indirect instructions". This wording is known as "the Commercial Court words" and is intended to extend the operation of the freezing order to assets held by the respondent as a trustee or nominee for a third