Note: We have provided a transcript of the discussion in this video if you are unable to watch the video version. This transcript is generated using a combination of speech recognition software and human transcribers and may contain errors.
Stephen Ross (00:04 - 01:44):
What should you do if you'reserved with a freezing order? Being served with a freezing order from the English court comes as a great shock to clients whether they've done anything wrong or not. Without any notice, somebody's come to your home or work or approach you in the street and handed you an order of the court which warns you on the front page that if you disobey it, you may go to jail or face a fine, and that all of your assets are frozen. Here are my golden rules in this situation number one, don't panic. Phone a lawyer immediately for advice. We will help you understand the precise terms of the order and what you can do next and what you must do next. Number two, you must obey the order. It's a contempt of court if you don't, and you may face a fine or prison sentence. So read it carefully. You're likely to have to set out a detailed affidavit of your assets within a very short period of time.This can take a lot of work and we need to get started as soon as possible. Number three, you may have to tell other parties, like banks and people you hold assets with jointly, about the freezing order, but get legal advice first.
Number four don't get angry, get even. It may be possible to apply to vary or discharge the order. For example, if your opponent has failed in his duty to provide full and frank disclosure to the court, you're entitled to a full note of everything said to the judge. However, you will have to move quickly and finally, keep complying with the order. Even if you think it's wrong and you intend to get it changed, you must comply until a judge says otherwise. Thanks for watching.
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