Contribution on freezing orders in Monaco (2024)

08/2024

Contribution by 99 AVOCATS ASSOCIÉS (Patricia KEMAYOU MENGUE, Manager Associate) for MONACO, in the Global Freezing Order Guide of EVERSHEDS SUTHERLAND.

Read our contribution > https://ezine.eversheds-suther...

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Points covered:

1. Are freezing orders available in civil legal proceedings in Monaco (their equivalent: "saisie conservatoire") and what is their effect?
2. Are other interim orders commonly made in conjunction with a freezing (or equivalent) order?
3. Briefly what is the relevant legal test?
4. Briefly what is the process for obtaining a freezing (or equivalent) order?
5. Does the applicant have to provide any form of security or commit to compensation if its claim is ultimately unsuccessful and any freezing (or equivalent) order granted causes loss and damage to the respondent?
6. Can it be sought against third parties?
7. What assets are covered by a freezing (or equivalent) order?
8. Can a freezing (or equivalent) order be made in support of substantive proceedings abroad?
9. Can a freezing (or equivalent) order be made in support of arbitration proceedings or awards?
10. At what stage of proceedings can a freezing (or equivalent) order be sought?
11. Are there typically any exceptions to the general prohibition on the respondent’s use of assets subject to a freezing (or equivalent) order?
12. What happens after a freezing (or equivalent) order is granted?
13. Who pays the costs of the application for a freezing (or equivalent) order?
14. What protections are there typically in a freezing (or equivalent) order for third parties to such orders?
15. What are the consequences of breach of a freezing (or equivalent) order?
16. Can a freezing (or equivalent) order be enforced abroad?
17. Can freezing (or equivalent) orders from overseas jurisdictions be enforced in this jurisdiction?

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