Freezing the opposition out

Brian Perrott and Ian Mathew, of Holman Fenwick Willan, discuss how worldwide freezing orders can provide potent leverage in commercial negotiations

Worldwide freezing orders (WFOs) from the English court are a potent weapon for claimants seeking protection against defaulting (or potentially defaulting) counterparties. In a world of volatile markets and increased credit risk, our recent experience at Holman Fenwick Willan (HFW) has shown that WFOs can yield tangible success in securing a party’s interests or claims. In this article, we seek to highlight the value, limits and occasional pitfalls of WFOs.