It is vital to properly understand the costs implications of the freezing order process – whether you are applying for one or on the receiving end of a freezing order. Our brilliant team have been acting for individuals, companies and financiers since 2002 – let us help you too.
There are two main sets of costs to consider – depending on whether you are defending a freezing order or applying for one
Costs from a defendant perspective
If you are on the receiving end of a freezing injunction, it is vital to get an early grip on potential legal costs
- firstly, the freezing injunction document or court order will contain provisions within it allowing the recipient of a freezing injunction to incur reasonable legal costs dealing with the claim. The applicant for a freezing injunction is not allowed to inhibit a recipient’s ability to deal with the freezing injunction or limit the amount of legal expenditure it incurs dealing with the freezing injunction;
- secondly, towards the back of any freezing injunction document is a provision relating to the entitlement of the recipient to spend on reasonable legal costs. All that is normally required is that the applicant is notified of the amount of money being incurred and identify the source of those funds. There can be some complications relating to what are called proprietary freezing injunctions, but this is something that the expert team at Francis Wilks & Jones can advise further on.
- Thirdly, if you are defending a freezing injunction, then the level of freezing injunction legal costs will depend on the action you then take. If the recipient / defendant simply agrees to a continuation of the freezing injunction then costs are limited and often it is the case that the overarching freezing injunction legal costs position is only resolved once the underlying substantive claim is dealt with.
However, if a defendant either wants to vary the terms of the freezing injunction or look to discharge it, then costs will increase as evidence normally has to be presented to the court in either of those circumstances. At Francis Wilks & Jones we can advise you on the likely level of freezing injunction legal costs if you are a recipient of a freezing injunctions.
Applying for a freezing order
Equally, if you are looking to obtain a freezing injunction, Francis Wilks & Jones can advise you on the likely costs. There are the time costs of the solicitors preparing the underlying evidence together with the court fees and also the costs of an experienced freezing injunctions barrister required to help prepare some of the documents including the freezing injunction skeleton argument and attend court on the day seeking the order.
Our team at Francis Wilks & Jones have many years’ experience in freezing injunctions. Whilst it is true that they are not cheap exercises, our experience means that we can seek to limit costs where possible and avoid duplication that is likely to be incurred with less experienced lawyers. Please contact one of our experienced freezing injunction team and we can help you.