Receivership orders can be applied for once a freezing order has been granted. There is no requirement to wait for the final judgement in the substantive proceedings before a receiver can be appointed.
The freezing order freezes the asset(s) and prevents the defendant from dealing with them but it does not allow another person to assume ownership rights and control over the same.
The receivership order allows the appointed receiver to take control of the assets and control any income deriving from the assets such as rental income or dividend income.
A defendant can oppose the imposition of a receivership order on the basis that such an intrusive order is unreasonable in all the circumstances and by proposing alternative arrangements for the management of the assets.
Parallel Criminal Fraud Proceedings
If the case involves a parallel criminal fraud investigation, our award-winning criminal fraud team is able to assist clients manage this process.