The principal effect of a Restraint Order (a ‘Restraint Order’) is to freeze assets and bank accounts in order to, inter alia, prevent their disposal and potential dissipation.

An Order may be issued by a court, without Notice having been given to the person against whom it is issued i.e. ex parte and, generally, is sought by the authority seeking it having the belief that the subject of the application has benefited financially from the proceeds of crime.

John Veale of Kangs Solicitors explains the matters usually dealt with in a Restraint Order.

Upon being served with a Restraint Order it is essential that expert legal guidance is sought in order to effectively attend to the various complexities attaching to such an Order.

Kangs Solicitors offers vast experience dealing with situations arising from Freezing and Financial Restraint Orders and proceedings arising under the Proceeds Of Crime Act 2002 (‘POCA’).

Our team is led by Hamraj Kang who is recognised as a leading expert in the field. He is one of only two solicitors nationally to be ranked as a ‘star individual’ for five consecutive years in the legal directory Chambers & Partners.

Other members of the team are ranked in the Legal 500 and also ranked in Chambers & Partners.

For an initial no obligation discussion, please call our Team at any of our offices detailed below:

Restraint Order| Kangs Account Freezing Order Solicitors

As the Restraint Order will have been obtained without any Notice having been given, it is quite feasible that the person against whom it is directed may not become aware of its existence until a financial activity is attempted requiring the use of, for example, a bank credit/debit card.

As well as prohibiting any dealing with funds in bank accounts and other assets, including any  received after the Restraint Order is made, the Restraint Order may require the person against whom it is directed to:

  • serve a Financial Statement within twenty-one days providing full details of all of assets, under their control, in their sole name or otherwise, held jointly or severally, in or outside of England and Wales,
  • provide within such Statement names and addresses of all financial institutions holding assets and accounts,
  • provide details of all income including salary, real property and savings, debts, property gifted and received of a certain value going back six years from the date the Restraint Order,
  • provide details of company directorships and company assets, which may ultimately be seized and treated as personal assets,     
  • return any movable assets which are abroad back into the jurisdiction of England and Wales within twenty-one days,
  • to Inform the Prosecutor of the location of those assets returned to the jurisdiction within seven days of return,
  • to Inform the Prosecutor of a nominated bank account which may be used to draw down any living allowance that may be allowed by the court,
  • to comply with any property detention orders that are made.

How We Can Help | Kangs Property Freezing Order Solicitors

We have a proven track record in assisting individual and corporate clients in relation to the following types of restraint proceedings:

Being faced with a Freezing Order of any nature is a daunting prospect given that, in reality, it prevents any immediate access to money or property of any nature.

Immediate assistance from experts is essential to enable you to both deal with the Prosecutor in order to attend to your day to day financial needs but also to help in the compilation of all the relevant financial material that may be required to enable the Financial Statement which will be required to be served within the prescribed time limit.

It may be that, for example, certain contents of the Restraint Order may be incorrect or that any financial figure set for your living expenses requires an application to the court for a variation.

If you are in need of expert help and advice please do not hesitate to contact our team through:

Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258171 | 020 7936 6396 | 0121 449 9888

John Veale
jveale@kangssolicitors.co.uk
0161 817 5020 | 020 7936 6396 | 07989 521 210

Tim Thompson
tthompson@kangssolicitors.co.uk
020 7936 6396 0121 449 9888