CINXE.COM
Freezing orders and asset recovery: between effectiveness and fairness – The In-House Lawyer
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data-sf-depth="0" value="Bär & Karrer AG ">Bär & Karrer AG </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Bär & Karrer AG">Bär & Karrer AG</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Bär & Karrer">Bär & Karrer</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Basham, Ringe y Correa, S.C.">Basham, Ringe y Correa, S.C.</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="BCL Solicitors LLP">BCL Solicitors LLP</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Beccar Varela">Beccar Varela</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Bentham Europe Limited">Bentham Europe Limited</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Berwin Leighton Paisner">Berwin Leighton Paisner</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" 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Silkin">Lewis Silkin</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Linklaters">Linklaters</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Locke Lord">Locke Lord</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Loyens & Loeff">Loyens & Loeff</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Loyens & Loeff">Loyens & Loeff</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Loyens & Loeff ">Loyens & Loeff </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="LPA-CGR avocats">LPA-CGR avocats</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="LSG">LSG</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="LuatViet">LuatViet</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Macesic & Partners">Macesic & Partners</option> 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data-sf-count="-1" data-sf-depth="0" value="Maltin PR">Maltin PR</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mannheimer Swartling">Mannheimer Swartling</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Maples Group">Maples Group</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Maravela Asociatii">Maravela Asociatii</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mareș & Mareș ">Mareș & Mareș </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mareș & Mareș">Mareș & Mareș</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Martínez, Algaba, de Haro y Curiel">Martínez, Algaba, de Haro y Curiel</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Masotti Cassella">Masotti Cassella</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Matheson">Matheson</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Matheson LLP">Matheson LLP</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mathesons">Mathesons</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Matouk Bassiouny & Hennawy ">Matouk Bassiouny & Hennawy </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mattos Filho Advogados">Mattos Filho Advogados</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mayora & Mayora">Mayora & Mayora</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="McGuireWoods">McGuireWoods</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="McKinney, Bancroft & Hughes">McKinney, Bancroft & Hughes</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Melcheds Advogados ">Melcheds Advogados </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mendoza Luksic & Valencia">Mendoza Luksic & Valencia</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Milbank">Milbank</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Milberg London">Milberg London</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Mishcon de Reya">Mishcon de Reya</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="MoloLamken">MoloLamken</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="MoloLamken LLP">MoloLamken LLP</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Morais Leitão">Morais Leitão</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Morgan, Lewis & Bockius">Morgan, Lewis & Bockius</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Moroğlu Arseven ">Moroğlu Arseven </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Moroğlu Arseven">Moroğlu Arseven</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Morrison & Foerster">Morrison & Foerster</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="MRP Advisory">MRP Advisory</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Muşat & Asociaţii">Muşat & Asociaţii</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Muşat & Asociaţii">Muşat & Asociaţii</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Nader, Hayaux y Goebel">Nader, Hayaux y Goebel</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Nagashima Ohno & Tsunematsu">Nagashima Ohno & Tsunematsu</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Niederer Kraft Frey">Niederer Kraft Frey</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Nodia, Urumashvili & Partners">Nodia, Urumashvili & Partners</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Normative">Normative</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Norton Rose Fulbright">Norton Rose Fulbright</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Opus 2">Opus 2</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Oraro & Company Advocates">Oraro & Company Advocates</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Ospelt & Partner Attorneys at Law Ltd.">Ospelt & Partner Attorneys at Law Ltd.</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="OZDAGISTANLI EKICI">OZDAGISTANLI EKICI</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="P.R.I.M.E. Finance">P.R.I.M.E. Finance</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Paksoy">Paksoy</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="PARK Wirtschaftsstrafrecht White-collar crime">PARK Wirtschaftsstrafrecht White-collar crime</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Paul Hastings">Paul Hastings</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="People + Culture Strategies">People + Culture Strategies</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Philip Lee">Philip Lee</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Pinilla González & Prieto Abogados">Pinilla González & Prieto Abogados</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Pinsent Masons">Pinsent Masons</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Pinsent Masons Vario">Pinsent Masons Vario</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="PPO Abogados">PPO Abogados</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="PRAGER DREIFUSS">PRAGER DREIFUSS</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Purdy Smith">Purdy Smith</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="PwC">PwC</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="PwC Legal">PwC Legal</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Quahe Woo & Palmer">Quahe Woo & Palmer</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Rajah & Tann Singapore">Rajah & Tann Singapore</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="RASK Attorneys-at-Law">RASK Attorneys-at-Law</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Rational Intellectual Property">Rational Intellectual Property</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Rivera Gaxiola, Carrasco y Kálloi">Rivera Gaxiola, Carrasco y Kálloi</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Robson Harris">Robson Harris</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Rogério Alves & Associados ">Rogério Alves & Associados </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Rogério Alves & Associados">Rogério Alves & Associados</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Rokas">Rokas</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Rouse">Rouse</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="RPC">RPC</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Russel McVeagh">Russel McVeagh</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Russell McVeagh">Russell McVeagh</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="S.U.Khan Associates Corporate & Legal Consultants">S.U.Khan Associates Corporate & Legal Consultants</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="SABZ Advogados">SABZ Advogados</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Safelink">Safelink</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Sánchez Devanny">Sánchez Devanny</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Schillings">Schillings</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Schulte Roth & Zabel">Schulte Roth & Zabel</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Schulte Roth & Zabel LLP">Schulte Roth & Zabel LLP</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Seladore Legal">Seladore Legal</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shakespeare Martineau LLP">Shakespeare Martineau LLP</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shalakany">Shalakany</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shardul Amarchand Mangaldas & Co">Shardul Amarchand Mangaldas & Co</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shardul Amarchand Mangaldas & Co">Shardul Amarchand Mangaldas & Co</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shardul Amarchand Mangaldas & Co.">Shardul Amarchand Mangaldas & Co.</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="SHC Law & Tax">SHC Law & Tax</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shearman & Sterling">Shearman & Sterling</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shearman & Sterling">Shearman & Sterling</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shepherd and Wedderburn">Shepherd and Wedderburn</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shin & Kim">Shin & Kim</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shin Associates">Shin Associates</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shook Lin & Bok">Shook Lin & Bok</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shook, Hardy & Bacon">Shook, Hardy & Bacon</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Shoosmiths">Shoosmiths</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Signature Litigation">Signature Litigation</option> <option class="sf-level-0 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Szlęzak">Sołtysiński Kawecki & Szlęzak</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Soltysinski Kawecki Szlezak">Soltysinski Kawecki Szlezak</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Souza, Mello e Torres">Souza, Mello e Torres</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Squire Patton Boggs">Squire Patton Boggs</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="SSEK Legal Consultants">SSEK Legal Consultants</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Stellar Chambers">Stellar Chambers</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Stephenson Harwood">Stephenson Harwood</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Steptoe & Johnson">Steptoe & Johnson</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" 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Söderqvist Advokatbyrå">Wesslau Söderqvist Advokatbyrå</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="White & Case">White & Case</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="White & Case LLP">White & Case LLP</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Wiggin LLP">Wiggin LLP</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Wikborg Rein">Wikborg Rein</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="WilmerHale">WilmerHale</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Winston & Strawn">Winston & Strawn</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Wolf Theiss">Wolf Theiss</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Wolters Kluwer">Wolters Kluwer</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="WongPartnership ">WongPartnership </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="WongPartnership">WongPartnership</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Yerra Solutions">Yerra Solutions</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Yigal Arnon & Co.">Yigal Arnon & Co.</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Yoon & Yang LLC">Yoon & Yang LLC</option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Zhong Lun Law Firm ">Zhong Lun Law Firm </option> <option class="sf-level-0 " data-sf-count="-1" data-sf-depth="0" value="Zhong Lun Law Firm">Zhong Lun Law Firm</option> </select> </label> </li><li class="sf-field-category" data-sf-field-name="_sft_category" data-sf-field-type="category" data-sf-field-input-type="multiselect" data-sf-combobox="1"> <label> <span class="screen-reader-text">Category Selection</span> <select data-combobox="1" data-placeholder="Sections" data-operator="or" multiple="multiple" name="_sft_category[]" class="sf-input-select" title="Category Selection"> <option class="sf-level-0 sf-item-1" data-sf-count="372" data-sf-depth="0" value="feature">Features</option> <option class="sf-level-0 sf-item-2" data-sf-count="1338" data-sf-depth="0" value="legal-briefing">Legal Briefing</option> <option class="sf-level-0 sf-item-4" data-sf-count="57" data-sf-depth="0" value="profile">Profile</option> </select> </label> </li><li class="sf-field-taxonomy-ihl_issue" data-sf-field-name="_sft_ihl_issue" data-sf-field-type="taxonomy" data-sf-field-input-type="multiselect" data-sf-combobox="1"> <label> <span class="screen-reader-text">Issue Selection</span> <select data-combobox="1" data-placeholder="Issues" data-operator="or" multiple="multiple" name="_sft_ihl_issue[]" class="sf-input-select" title="Issue Selection"> <option class="sf-level-0 sf-item-136" data-sf-count="20" data-sf-depth="0" value="april-2010">April 2010</option> <option class="sf-level-0 sf-item-129" data-sf-count="17" data-sf-depth="0" value="april-2011">April 2011</option> <option class="sf-level-0 sf-item-120" data-sf-count="9" data-sf-depth="0" value="april-2012">April 2012</option> <option class="sf-level-0 sf-item-112" data-sf-count="10" data-sf-depth="0" value="april-2013">April 2013</option> <option class="sf-level-0 sf-item-105" data-sf-count="7" data-sf-depth="0" value="april-2014">April 2014</option> <option class="sf-level-0 sf-item-98" data-sf-count="8" data-sf-depth="0" value="april-2015">April 2015</option> <option class="sf-level-0 sf-item-14" data-sf-count="29" data-sf-depth="0" value="autumn-2016">Autumn 2016</option> <option class="sf-level-0 sf-item-9" data-sf-count="30" data-sf-depth="0" value="autumn-2017">Autumn 2017</option> <option class="sf-level-0 sf-item-140" data-sf-count="41" data-sf-depth="0" value="autumn-2018">Autumn 2018</option> <option class="sf-level-0 sf-item-163" data-sf-count="39" data-sf-depth="0" value="autumn-2019">Autumn 2019</option> <option class="sf-level-0 sf-item-175" data-sf-count="27" data-sf-depth="0" value="autumn-2020">Autumn 2020</option> <option class="sf-level-0 sf-item-264" data-sf-count="30" data-sf-depth="0" value="autumn-2021">Autumn 2021</option> <option class="sf-level-0 sf-item-300" data-sf-count="24" data-sf-depth="0" value="autumn-2022">Autumn 2022</option> <option class="sf-level-0 sf-item-344" data-sf-count="20" data-sf-depth="0" value="autumn-2023">Autumn 2023</option> <option class="sf-level-0 sf-item-70" data-sf-count="1" data-sf-depth="0" value="dec-jan-2010">Dec/Jan 2010</option> <option class="sf-level-0 sf-item-92" data-sf-count="1" data-sf-depth="0" value="december-2015">December 2015</option> <option class="sf-level-0 sf-item-68" data-sf-count="20" data-sf-depth="0" value="december-january-2009">December/January 2009</option> <option class="sf-level-0 sf-item-69" data-sf-count="17" data-sf-depth="0" value="december-january-2010">December/January 2010</option> <option class="sf-level-0 sf-item-58" data-sf-count="16" data-sf-depth="0" value="december-january-2011-2012">December/January 2011/2012</option> <option class="sf-level-0 sf-item-48" data-sf-count="13" data-sf-depth="0" value="december-january-2012">December/January 2012</option> <option class="sf-level-0 sf-item-38" data-sf-count="11" data-sf-depth="0" value="december-january-2013-14">December/January 2013/14</option> <option class="sf-level-0 sf-item-21" data-sf-count="8" data-sf-depth="0" value="december-january-2014">December/January 2014</option> <option class="sf-level-0 sf-item-352" data-sf-count="13" data-sf-depth="0" value="doing-business-in-asia-pacific-2024">Doing business in Asia Pacific 2024</option> <option class="sf-level-0 sf-item-334" data-sf-count="30" data-sf-depth="0" value="doing-business-in-emea-2023">Doing business in EMEA 2023</option> <option class="sf-level-0 sf-item-138" data-sf-count="26" data-sf-depth="0" value="february-2010">February 2010</option> <option class="sf-level-0 sf-item-130" data-sf-count="15" data-sf-depth="0" value="february-2011">February 2011</option> <option class="sf-level-0 sf-item-122" data-sf-count="15" data-sf-depth="0" value="february-2012">February 2012</option> <option class="sf-level-0 sf-item-114" data-sf-count="10" data-sf-depth="0" value="february-2013">February 2013</option> <option class="sf-level-0 sf-item-106" data-sf-count="9" data-sf-depth="0" value="february-2014">February 2014</option> <option class="sf-level-0 sf-item-100" data-sf-count="6" data-sf-depth="0" value="february-2015">February 2015</option> <option class="sf-level-0 sf-item-74" data-sf-count="19" data-sf-depth="0" value="july-august-2010">July/August 2010</option> <option class="sf-level-0 sf-item-63" data-sf-count="17" data-sf-depth="0" value="july-august-2011">July/August 2011</option> <option class="sf-level-0 sf-item-52" data-sf-count="11" data-sf-depth="0" value="july-august-2012">July/August 2012</option> <option class="sf-level-0 sf-item-42" data-sf-count="10" data-sf-depth="0" value="july-august-2013">July/August 2013</option> <option class="sf-level-0 sf-item-33" data-sf-count="4" data-sf-depth="0" value="july-august-2014">July/August 2014</option> <option class="sf-level-0 sf-item-25" data-sf-count="7" data-sf-depth="0" value="july-august-2015">July/August 2015</option> <option class="sf-level-0 sf-item-134" data-sf-count="22" data-sf-depth="0" value="june-2010">June 2010</option> <option class="sf-level-0 sf-item-127" data-sf-count="17" data-sf-depth="0" value="june-2011">June 2011</option> <option class="sf-level-0 sf-item-118" data-sf-count="12" data-sf-depth="0" value="june-2012">June 2012</option> <option class="sf-level-0 sf-item-110" data-sf-count="9" data-sf-depth="0" value="june-2013">June 2013</option> <option class="sf-level-0 sf-item-103" data-sf-count="6" data-sf-depth="0" value="june-2014">June 2014</option> <option class="sf-level-0 sf-item-96" data-sf-count="6" data-sf-depth="0" value="june-2015">June 2015</option> <option class="sf-level-0 sf-item-137" data-sf-count="22" data-sf-depth="0" value="march-2010">March 2010</option> <option class="sf-level-0 sf-item-121" data-sf-count="13" data-sf-depth="0" value="march-2012">March 2012</option> <option class="sf-level-0 sf-item-113" data-sf-count="11" data-sf-depth="0" value="march-2013">March 2013</option> <option class="sf-level-0 sf-item-91" data-sf-count="7" data-sf-depth="0" value="march-2014">March 2014</option> <option class="sf-level-0 sf-item-99" data-sf-count="5" data-sf-depth="0" value="march-2015">March 2015</option> <option class="sf-level-0 sf-item-90" data-sf-count="4" data-sf-depth="0" value="march-2016">March 2016</option> <option class="sf-level-0 sf-item-135" data-sf-count="20" data-sf-depth="0" value="may-2010">May 2010</option> <option class="sf-level-0 sf-item-128" data-sf-count="17" data-sf-depth="0" value="may-2011">May 2011</option> <option class="sf-level-0 sf-item-119" data-sf-count="12" data-sf-depth="0" value="may-2012">May 2012</option> <option class="sf-level-0 sf-item-111" data-sf-count="12" data-sf-depth="0" value="may-2013">May 2013</option> <option class="sf-level-0 sf-item-104" data-sf-count="7" data-sf-depth="0" value="may-2014">May 2014</option> <option class="sf-level-0 sf-item-97" data-sf-count="6" data-sf-depth="0" value="may-2015">May 2015</option> <option class="sf-level-0 sf-item-131" data-sf-count="16" data-sf-depth="0" value="november-2010">November 2010</option> <option class="sf-level-0 sf-item-123" data-sf-count="18" data-sf-depth="0" value="november-2011">November 2011</option> <option class="sf-level-0 sf-item-115" data-sf-count="10" data-sf-depth="0" value="november-2012">November 2012</option> <option class="sf-level-0 sf-item-107" data-sf-count="6" data-sf-depth="0" value="november-2013">November 2013</option> <option class="sf-level-0 sf-item-93" data-sf-count="7" data-sf-depth="0" value="november-2014">November 2014</option> <option class="sf-level-0 sf-item-88" data-sf-count="4" data-sf-depth="0" value="november-2016">November 2016</option> <option class="sf-level-0 sf-item-132" data-sf-count="16" data-sf-depth="0" value="october-2010">October 2010</option> <option class="sf-level-0 sf-item-124" data-sf-count="17" data-sf-depth="0" value="october-2011">October 2011</option> <option class="sf-level-0 sf-item-116" data-sf-count="12" data-sf-depth="0" value="october-2012">October 2012</option> <option class="sf-level-0 sf-item-108" data-sf-count="9" data-sf-depth="0" value="october-2013">October 2013</option> <option class="sf-level-0 sf-item-101" data-sf-count="5" data-sf-depth="0" value="october-2014">October 2014</option> <option class="sf-level-0 sf-item-94" data-sf-count="2" data-sf-depth="0" value="october-2015">October 2015</option> <option class="sf-level-0 sf-item-89" data-sf-count="4" data-sf-depth="0" value="october-2016">October 2016</option> <option class="sf-level-0 sf-item-133" data-sf-count="17" data-sf-depth="0" value="september-2010">September 2010</option> <option class="sf-level-0 sf-item-125" data-sf-count="18" data-sf-depth="0" value="september-2011">September 2011</option> <option class="sf-level-0 sf-item-117" data-sf-count="11" data-sf-depth="0" value="september-2012">September 2012</option> <option class="sf-level-0 sf-item-109" data-sf-count="8" data-sf-depth="0" value="september-2013">September 2013</option> <option class="sf-level-0 sf-item-102" data-sf-count="7" data-sf-depth="0" value="september-2014">September 2014</option> <option class="sf-level-0 sf-item-95" data-sf-count="6" data-sf-depth="0" value="september-2015">September 2015</option> <option class="sf-level-0 sf-item-17" data-sf-count="23" data-sf-depth="0" value="spring-2016">Spring 2016</option> <option class="sf-level-0 sf-item-11" data-sf-count="17" data-sf-depth="0" value="spring-2017">Spring 2017</option> <option class="sf-level-0 sf-item-6" data-sf-count="21" data-sf-depth="0" value="spring-2018">Spring 2018</option> <option class="sf-level-0 sf-item-144" data-sf-count="41" data-sf-depth="0" value="spring-2019">Spring 2019</option> <option class="sf-level-0 sf-item-167" data-sf-count="36" data-sf-depth="0" value="spring-2020">Spring 2020</option> <option class="sf-level-0 sf-item-213" data-sf-count="33" data-sf-depth="0" value="spring-2021">Spring 2021</option> <option class="sf-level-0 sf-item-288" data-sf-count="21" data-sf-depth="0" value="spring-2022">Spring 2022</option> <option class="sf-level-0 sf-item-322" data-sf-count="31" data-sf-depth="0" value="spring-2023">Spring 2023</option> <option class="sf-level-0 sf-item-360" data-sf-count="32" data-sf-depth="0" value="spring-2024">Spring 2024</option> <option class="sf-level-0 sf-item-15" data-sf-count="39" data-sf-depth="0" value="summer-2016">Summer 2016</option> <option class="sf-level-0 sf-item-10" data-sf-count="10" data-sf-depth="0" value="summer-2017">Summer 2017</option> <option class="sf-level-0 sf-item-139" data-sf-count="30" data-sf-depth="0" value="summer-2018">Summer 2018</option> <option class="sf-level-0 sf-item-161" data-sf-count="39" data-sf-depth="0" value="summer-2019">Summer 2019</option> <option class="sf-level-0 sf-item-241" data-sf-count="26" data-sf-depth="0" value="summer-2021">Summer 2021</option> <option class="sf-level-0 sf-item-294" data-sf-count="29" data-sf-depth="0" value="summer-2022">Summer 2022</option> <option class="sf-level-0 sf-item-328" data-sf-count="27" data-sf-depth="0" value="summer-2023">Summer 2023</option> <option class="sf-level-0 sf-item-364" data-sf-count="28" data-sf-depth="0" value="summer-2024">Summer 2024</option> <option class="sf-level-0 sf-item-12" data-sf-count="25" data-sf-depth="0" value="winter-2016-17">Winter 2016/17</option> <option class="sf-level-0 sf-item-8" data-sf-count="32" data-sf-depth="0" value="winter-2017">Winter 2017</option> <option class="sf-level-0 sf-item-7" data-sf-count="31" data-sf-depth="0" value="winter-2018">Winter 2018</option> <option class="sf-level-0 sf-item-160" data-sf-count="23" data-sf-depth="0" value="winter-2019">Winter 2019</option> <option class="sf-level-0 sf-item-164" data-sf-count="36" data-sf-depth="0" value="winter-2020">Winter 2020</option> <option class="sf-level-0 sf-item-179" data-sf-count="27" data-sf-depth="0" value="winter-2021">Winter 2021</option> <option class="sf-level-0 sf-item-177" data-sf-count="31" data-sf-depth="0" value="winter-2022">Winter 2022</option> <option class="sf-level-0 sf-item-304" data-sf-count="26" data-sf-depth="0" value="winter-2023">Winter 2023</option> <option class="sf-level-0 sf-item-348" data-sf-count="22" data-sf-depth="0" value="winter-2024">Winter 2024</option> </select> </label> </li><li class="sf-field-submit" data-sf-field-name="submit" data-sf-field-type="submit" data-sf-field-input-type=""><input 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"datePublished": "February 15, 2023", "dateModified": "February 15, 2023", "mainEntityOfPage": "https://www.inhouselawyer.co.uk/legal-briefing/freezing-orders-and-asset-recovery-between-effectiveness-and-fairness/", "description": "What is the legal framework in criminal asset recovery in Greece? Criminal asset recovery in Greece is mainly regulated by provisions found in the Greek Criminal Code and the Code of Criminal Procedure, as well as Law no. 4557/2018 on money laundering. It should be noted that, from 1995 until 2019, anti-money laundering legislation was &hellip; <p class="link-more"><a href="https://www.inhouselawyer.co.uk/legal-briefing/freezing-orders-and-asset-recovery-between-effectiveness-and-fairness/" class="more-link">Continue reading<span class="screen-reader-text"> "Freezing orders and asset recovery: between effectiveness and fairness"</span></a></p>" } </script> <div class="wrap"> <meta class="swiftype" name="secondary" data-type="string" content="The In-House Lawyer"> <p data-swiftype-name="description" data-swiftype-type="text" class="breadcrumb">Corporate Crime | Winter 2023 | Legal Briefing</p> <!-- /87985411/ihl_oversized_top --> <div id='div-gpt-ad-1695820935421-0' style="width: 98vw; margin-left: -19px;"> <script> googletag.cmd.push(function() { googletag.display('div-gpt-ad-1695820935421-0'); }); </script> </div> <div id="primary" class="content-area"> <main id="main" class="site-main" role="main"> <!-- /87985411/ihl_in_article_leaderboard --> <div id='div-gpt-ad-1614027932649-0' style='width: 728px; height: 90px;'> <script> googletag.cmd.push(function() { googletag.display('div-gpt-ad-1614027932649-0'); }); </script> </div> <article id="post-12390" class="post-12390 post type-post status-publish format-standard hentry category-legal-briefing ihl_issue-winter-2023 countries-greece"> <header class="entry-header"> <h1 data-swiftype-name="title" data-swiftype-type="string" class="entry-title">Freezing orders and asset recovery: between effectiveness and fairness</h1> </header><!-- .entry-header --> <div data-swiftype-name="body" data-swiftype-type="text" class="entry-content"> <h4>What is the legal framework in criminal asset recovery in Greece?</h4> <p>Criminal asset recovery in Greece is mainly regulated by provisions found in the Greek Criminal Code and the Code of Criminal Procedure, as well as Law no. 4557/2018 on money laundering. It should be noted that, from 1995 until 2019, anti-money laundering legislation was the key legislation on asset recovery and has been extensively used by the competent authorities to detect and prosecute corruption practices, large-scale fraud, and tax evasion since 1995. The relevant legal framework has been reinforced by the new codes, ie the Code of Criminal Procedure (CCP) and Criminal Code, which entered into force on 1 July 2019 and govern the asset recovery procedures. Τhe new codes regulate the lifting of bank secrecy, the conduct of financial investigations aimed at discovering tainted assets, the freezing of such assets and, in case of a guilty verdict, their confiscation or disposal to compensate victims of financial or related crimes.<br /> <span id="more-12390"></span></p> <h4>What type of assets can be subject to freezing and confiscation measures in criminal proceedings?</h4> <p>The abovementioned framework is in line with the recent EU developments in the field of asset recovery. Following the transposition of EU Directive 2014/42 on the freezing and confiscation of instrumentalities and proceeds of crime, any type of property that is considered direct or indirect proceeds of criminal activity (or corresponds to the value thereof) or an instrumentality used (or intended to be used) to commit a criminal offence can be subject to asset recovery measures such as freezing and confiscation.</p> <h4>Which authorities have the power to issue freezing orders in Greece?</h4> <p>Freezing can be ordered by the prosecuting and/or judicial authorities during the pretrial stages of the criminal procedure. Moreover, even before a criminal investigation is initiated, the head of the Financial Intelligence Unit (FIU) has the power to order in urgent cases the freezing of any asset if it is likely that it originates from a predicate or a money laundering offence. After the opening of a criminal investigation, it is the prosecuting and/or judicial authorities who have the power to issue freezing decisions as they bear sole responsibility for the investigation of all aspects of the case entrusted to them, including the evaluation of the evidence and assessing the likelihood of the illegal origin of assets.</p> <p>More recently, a legal dispute arose on whether the FIU has concurrent competence to order the freezing of assets even in cases where a criminal investigation has already been initiated. Areios Pagos (Greece’s Court of Cassation) answered this question in the affirmative by its decision no. 1/2022 relying on the ‘administrative’ nature of FIU’s orders amidst heavy criticism by legal scholars and practitioners. Critics point out that this decision allows a non-judicial authority to interfere with pending criminal investigations and freeze assets, which may have already been deemed ‘clean’ by the prosecuting or judicial investigating authorities.</p> <h4>What are the requirements for property to be frozen in the course of criminal proceedings?</h4> <p>Property can be subject to freezing measures during the pretrial stage to secure its subsequent confiscation in case of a guilty verdict. Therefore, such measures require indications that the assets in question are connected to the criminal acts under investigation. The investigating authorities are under a duty to conduct a thorough investigation on the origin of the assets before issuing a freezing order. However, unreflected freezing orders are not uncommon in practice, even before the opening of criminal proceedings, and blindly extend to the entirety of the assets of suspects and/or third parties including non-suspicious bank accounts or other non-questionable property. This overly aggressive practice unfairly shifts the burden of proof forcing affected individuals or entities to collect and present all available evidence to prove the lawful origin of the assets before the competent judicial authorities in support of their appeals against evasive freezing orders. Moreover, until a decision on the appeal is issued, which can take many weeks or several months, all assets remain frozen, while affected parties and their families may suffer grave consequences being unable to satisfy their basic needs. </p> <p>Though there are emergency situations which demand immediate action to secure questionable property and prevent its dissipation, a swift procedure to review the property’s seizure and release all obviously ‘clean’ assets is equally important. </p> <h4>Are there sufficient safeguards in place?</h4> <p>Several procedural safeguards are in place with a view to ensuring that freezing orders do not disproportionately affect individuals or entities whose assets are frozen. According to the CCP and Law no. 4557/2018, assets can remain frozen for a maximum period of five years pending a judgment of a first instance court on the merits of the case. In other words, if no such judgment is issued within five years from the issuance of the freezing order, the seized assets must be released. Moreover, during the criminal proceedings certain assets can be exempted from freezing measures to cover basic living needs of affected persons and their families as well as costs for their legal representation and the management of frozen property. Affected parties have a right to request at any time they deem appropriate the judicial review of freezing measures and introduce new evidence in support of their request. </p> <h4>Does Greece recognise and execute foreign freezing and confiscation orders?</h4> <p>In relation to EU member states Regulation 2018/1805 is in force since 19.12.2020, which establishes the ‘free movement’ of freezing and confiscation orders based on the principle of mutual recognition in the common EU judicial area. This is the first EU Regulation on mutual recognition in criminal matters and is directly and uniformly applicable in all member states. Greece has already enforced a significant number of such decisions issued in other jurisdictions. In relation to third states, Greece proceeds with the recognition and execution of asset recovery decisions on the basis of bilateral or multilateral treaties. </p> </div><!-- .entry-content --> <footer class="entry-footer"><span class="cat-tags-links"><span class="cat-links"><svg class="icon icon-folder-open" aria-hidden="true" role="img"> <use href="#icon-folder-open" xlink:href="#icon-folder-open"></use> </svg><span class="screen-reader-text">Categories</span><a href="https://www.inhouselawyer.co.uk/category/legal-briefing/" rel="category tag">Legal Briefing</a></span></span></footer> <!-- .entry-footer --> </article><!-- #post-## --> <nav class="navigation post-navigation" aria-label="Posts"> <h2 class="screen-reader-text">Post navigation</h2> <div class="nav-links"><div class="nav-previous"><a href="https://www.inhouselawyer.co.uk/legal-briefing/2023-and-beyond-emerging-risks-and-legislation/" rel="prev"><span class="screen-reader-text">Previous Post</span><span aria-hidden="true" class="nav-subtitle">Previous</span> <span class="nav-title"><span class="nav-title-icon-wrapper"><svg class="icon icon-arrow-left" aria-hidden="true" role="img"> <use href="#icon-arrow-left" xlink:href="#icon-arrow-left"></use> </svg></span>2023 and beyond: Emerging risks and legislation</span></a></div><div class="nav-next"><a href="https://www.inhouselawyer.co.uk/feature/action-stations/" rel="next"><span class="screen-reader-text">Next Post</span><span aria-hidden="true" class="nav-subtitle">Next</span> <span class="nav-title">Action stations<span class="nav-title-icon-wrapper"><svg class="icon icon-arrow-right" aria-hidden="true" role="img"> <use href="#icon-arrow-right" xlink:href="#icon-arrow-right"></use> </svg></span></span></a></div></div> </nav> <!-- /87985411/ihl_in_article --> <div id='div-gpt-ad-1614027910230-0' style='width: 728px; 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The coupling of extreme economic and political climates and the constantly evolving threats from financial crime also served to feed … </p> <p class="link-more"><a href="https://www.inhouselawyer.co.uk/legal-briefing/financial-crime-legislative-predictions-for-the-year-ahead/" class="more-link">Continue reading<span class="screen-reader-text"> “Financial crime: legislative predictions for the year ahead”</span></a></p> </div> <div class="issue-more"> <a href="https://www.inhouselawyer.co.uk/feature/get-ready-to-be-more-enterprising-than-ever/"><h4>Get ready to be more enterprising than ever</h4></a> <p>As we face another few weeks of inclement weather that has somehow seemed to drag on longer even than the usual UK winter, thoughts inevitably turn to sun loungers, warmth and sandy beaches. Alluring as a spring holiday seems right now, whatever you do, don’t book your getaway for the week including the 24th and … </p> <p class="link-more"><a href="https://www.inhouselawyer.co.uk/feature/get-ready-to-be-more-enterprising-than-ever/" class="more-link">Continue reading<span class="screen-reader-text"> “Get ready to be more enterprising than ever”</span></a></p> </div> <div class="issue-more"> <a href="https://www.inhouselawyer.co.uk/profile/jelena-madir-gavi-the-vaccine-alliance/"><h4>Jelena Madir, Gavi, the Vaccine Alliance</h4></a> <span class="more-img"><img width="150" height="150" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20150%20150'%3E%3C/svg%3E" class="attachment-thumbnail size-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" data-lazy-srcset="https://www.inhouselawyer.co.uk/wp-content/uploads/sites/9/2023/02/jelena-madir-ihl-150x150.jpg 150w, https://www.inhouselawyer.co.uk/wp-content/uploads/sites/9/2023/02/jelena-madir-ihl-100x100.jpg 100w" data-lazy-sizes="100vw" data-lazy-src="https://www.inhouselawyer.co.uk/wp-content/uploads/sites/9/2023/02/jelena-madir-ihl-150x150.jpg" /><noscript><img width="150" height="150" src="https://www.inhouselawyer.co.uk/wp-content/uploads/sites/9/2023/02/jelena-madir-ihl-150x150.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="" decoding="async" loading="lazy" srcset="https://www.inhouselawyer.co.uk/wp-content/uploads/sites/9/2023/02/jelena-madir-ihl-150x150.jpg 150w, https://www.inhouselawyer.co.uk/wp-content/uploads/sites/9/2023/02/jelena-madir-ihl-100x100.jpg 100w" sizes="100vw" /></noscript></span> <p>Jelena Madir’s career to date has been defined by two crises. The 2008 financial crash saw her out of a job and forced to look beyond private practice for gainful employment. Fast forward just over a decade, and the Covid-19 pandemic has spawned the work which she credits as the highlight of her career, and … </p> <p class="link-more"><a href="https://www.inhouselawyer.co.uk/profile/jelena-madir-gavi-the-vaccine-alliance/" class="more-link">Continue reading<span class="screen-reader-text"> “Jelena Madir, Gavi, the Vaccine Alliance”</span></a></p> </div> <div class="issue-more"> <a href="https://www.inhouselawyer.co.uk/legal-briefing/laurent-cohen-tanugi-on-the-french-legal-privilege/"><h4>Laurent Cohen-Tanugi on the French legal privilege</h4></a> <p>Laurent Cohen-Tanugi Avocats is a Paris-based boutique law firm specialising in cross-border strategic assignments, including anti-corruption monitorships, transatlantic white-collar litigation, and other international regulatory compliance matters. The firm’s practice areas also include cross-border M&A transactions and international arbitration.</p> </div> <div class="issue-more"> <a href="https://www.inhouselawyer.co.uk/legal-briefing/major-real-estate-investment-structures-in-japan/"><h4>Major real estate investment structures in Japan</h4></a> <p>Introduction A weak Yen and other factors continue to attract overseas investors to the Japanese real estate market. While this investment can take many forms, two of the most common financing structures are GK-TK and TMK (as defined in the graphics). J-REITs are often used for large-scale portfolios, but because of this structure’s longer timeline … </p> <p class="link-more"><a href="https://www.inhouselawyer.co.uk/legal-briefing/major-real-estate-investment-structures-in-japan/" class="more-link">Continue reading<span class="screen-reader-text"> “Major real estate investment structures in Japan”</span></a></p> </div> </div> </div> </aside> </div><!-- .wrap --> </div><!-- #content --> <footer id="colophon" class="site-footer" role="contentinfo"> <div class="wrap"> <nav class="social-navigation" role="navigation" aria-label="Footer Social Links Menu"> <div class="menu-socials-container"><ul id="menu-socials" class="social-links-menu"><li id="menu-item-4888" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-4888"><a href="https://www.linkedin.com/company/legalease"><span class="screen-reader-text">LinkedIn</span><svg class="icon icon-linkedin" aria-hidden="true" role="img"> <use href="#icon-linkedin" xlink:href="#icon-linkedin"></use> </svg></a></li> <li id="menu-item-4884" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-4884"><a href="https://twitter.com/thelegal500"><span class="screen-reader-text">Twitter</span><svg class="icon icon-twitter" aria-hidden="true" role="img"> <use href="#icon-twitter" xlink:href="#icon-twitter"></use> </svg></a></li> <li id="menu-item-4887" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-4887"><a href="https://www.facebook.com/legal500/"><span class="screen-reader-text">Facebook</span><svg class="icon icon-facebook" aria-hidden="true" role="img"> <use href="#icon-facebook" xlink:href="#icon-facebook"></use> </svg></a></li> <li id="menu-item-4886" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-4886"><a href="https://www.youtube.com/channel/UCqzp24Yz_4nk4wIPrNU4xzA"><span class="screen-reader-text">YouTube</span><svg class="icon icon-youtube" aria-hidden="true" role="img"> <use href="#icon-youtube" xlink:href="#icon-youtube"></use> </svg></a></li> <li id="menu-item-4885" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-4885"><a href="mailto:editorial@legal500.com"><span class="screen-reader-text">Email</span><svg class="icon icon-envelope-o" aria-hidden="true" role="img"> <use href="#icon-envelope-o" xlink:href="#icon-envelope-o"></use> </svg></a></li> </ul></div> </nav><!-- .social-navigation --> <div class="site-info"> <span class="imprint">© 2024 Legalease Ltd. 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