Mareva Injunction:
N.K.Assumi
(Querist) 10 September 2008
This query is : Resolved
What is Mareva Injunction?
Adv.Shine Thomas
(Expert) 10 September 2008
Mareva injunction is a temporary injunction that freezes the assets of a party pending further order or final resolution by the court.
r sugumaran
(Expert) 10 September 2008
It's an order granted by the Courts restraining the defendant from dissipating the assets beyond the jurisdiction of Court to frustrate a judgment
KamalNayanSaxena
(Expert) 11 September 2008
A Mareva injunction is an order of a court to a party or other persons over whom the Court has jurisdiction, directing the way-in which the property is to be retained or dealt with so as to ensure that the property will be available to satisfy any judgment in the action. It may be noted that to obtain a Mareva injunction there must first be an action properly commenced within jurisdiction of the Court. Court have extended their jurisdiction also to action in rem to restrain the property from leaving jurisdiction.
The Mareva injunction is granted in a case where a plaintiff has brought an action against a foreign defendant, and the latter has moneys or chattels within the jurisdiction which, if he were not prevented from doing so, he would be free to remove out of the jurisdiction before the plaintiff could bring the action to trial, and, if successful, obtain and enforce a judgment against him.
G. ARAVINTHAN
(Expert) 11 September 2008
A Mareva injunction, a court order used to freeze assets to prevent abuses of process (named for Mareva Compania Naviera SA v International Bulkcarriers SA, an early case in which the order was issued).
