||All England Reporter
|| All ER (D) 235 (Mar)
||Queen's Bench Division
||Jonathon Acton Davis QC (instructed by Charles Russell) for the claimant.
||Richard Spearman QC (instructed by Taylor Joynson Garrett) for the defendant.
||15 March 2002
Practice - Pre-trial or post-judgment relief - Freezing order - Claimant obtaining freezing order against defendant - Defendant effectively a holding company - Defendant indebted to parent company - Risk of defendant selling assets to satisfy debt to parent company - Whether freezing order to be discharged.
The court discharged a freezing order and released a sum placed by the defendant in an escrow account where the claimant believed that the defendant, which was in effect a holding company, was likely to dissipate its assets to satisfy a debt to its parent company, on the grounds that a freezing order would not be granted to prevent a defendant from satisfying genuine debts and obligations, and the defendant's debt to its parent was such an obligation.
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