Freezing Injunctions & Search Orders
Peters & Peters has an international reputation for helping clients respond to freezing injunctions and search orders.
We are ranked in the top band for Civil Fraud in Chambers 2024, with the legal directory saying that we are a “leading name in the financial crime and civil fraud arenas, where the firm is active on high-profile defence work and particularly on multi-jurisdictional matters”.
We are often asked to assist defendants facing injunctions, which may freeze their assets, require urgent disclosure of documents, or demand to search homes or offices for information.
An order freezing a defendant’s assets typically also requires a defendant to disclose his assets within a matter of hours and subsequently verified on affidavit. We are well versed in assisting recipients of freezing and disclosure orders in meeting their obligations to the court, as well as seeking to ensure that they have sufficient resources to continue to support themselves and their families, or (if a company) to continue its business. We are regularly instructed to apply to amend or discharge freezing injunctions, where appropriate.
The execution of search orders on a defendant’s home or office can be a very onerous experience for those receiving such orders. We are able to advise quickly on how to respond both during execution of the search and in subsequent court proceedings.
Our experience of both obtaining and responding to search orders means that we are regularly asked by other City and national law firms to act as court appointed Supervising Solicitors to oversee the proper execution of search orders.
- Peters and Peters represented Magnus Peterson, the former CEO of Weavering Capital (UK) Ltd (WCUK). WCUK was investment advisor to the Weavering Macro Fixed Income Fund Limited (the Macro Fund), a hedge fund which, at its peak, had funds under management in excess of $600m. Following the high profile collapse of the Macro Fund and the administration of Weavering Capital, the SFO commenced an investigation into interest rate swap transactions between the Macro Fund and another fund which it alleged were related party transactions which had the effect of inflating the net asset value of the fund. Peters & Peters acted for Mr Peterson in relation to the initial investigation by the Serious Fraud Office and the proceedings commenced by the Administrator.
- We represented English LLPs named respondents to an application brought under s.25 of the Civil Jurisdiction and Judgments Act 1982 by various entities owned by the Emirate of Ras Al Khaimah. The underlying proceedings were before the Courts of Georgia and Ras Al Khaimah in which some of the LLPs and their alleged beneficial owner are the defendants. The applicants sought extensive relief including a worldwide freezing order and receivership orders against the LLPs. The case concerned allegations of serious fraud and complex issues concerning the nature of the relief sought by the applicants.