Mareva Injunction: Designed to Protect Property

Qamar Abad

doi:10.47205/plhr.2019(3-i)2.3

Abstract

Mareva Injunction: Designed to Protect Property

Highlights

Unlike a direct action against property whether in the case of ‘attachment before judgment’ or ‘an action in rem’, aimed at particular property or certain assets, Mareva injunction is designed against a specific person
It is issued by a court of competent jurisdiction and is aimed at a specific defendant instead of any property
Mareva injunctions like ordinary interlocutory injunctions are available through application accompanied by an Affidavit disclosing all the facts before the court of competent jurisdiction

Summary

Introduction

Unlike a direct action against property whether in the case of ‘attachment before judgment’ or ‘an action in rem’, aimed at particular property or certain assets, Mareva injunction is designed against a specific person (defendant) It is issued by a court of competent jurisdiction and is aimed at a specific defendant instead of any property. Mareva injunctions like ordinary interlocutory injunctions are available (ex parte) through application accompanied by an Affidavit disclosing all the facts before the court of competent jurisdiction It can be granted in urgency on application without appearance of the defendants. It rather employs contempt jurisdiction instead to act against and peril the property in question It defends the interests of a potential creditor for any action against his rights in a financial instrument like letter of credit or other negotiable financial instrument. The Court expressly observed the complexity of such cases in federations than unitary states

Origin and Development of Mareva Injunction

Mareva and Quai Timet Injunctions

Judicial Grounds and Rationale of Mareva Injunction

Effect on Third Parties

Mareva Injunction as Limited Exception to General Rule

Findings

Further Developments in Mareva Injunction