Issues arising during the asset freezing stage of asset recovery include uncertainties surrounding the requirements for issuing a freezing order, for example as a result of differences in national implementation procedures and/or legislation.
Questions may also arise from the identification of the competent national authority, e.g. when assets are situated in different locations in the executing/requested State, as well as the choice of legal instruments used in freezing assets.
In other cases, practitioners may encounter issues linked to grounds for refusing the execution of a freezing order or an LoR seeking the freezing of assets, as well as those stemming from challenges and legal remedies, and from poor communication of the execution of a freezing order or an LoR.
Issues may also pertain to asset management; for example, in relation to costs, the value of assets, the possibility of early sale, the manner in which the assessment of the value was conducted, or the absence of judicial administrators of companies subject to a freezing order.
With regard to asset freezing, the practical and legal support provided by Eurojust may include:
- offering advice and clarification regarding practical, legal and formal requirements, and serving as a channel for transmission of freezing orders, LoRs, and other related materials;
- supporting the execution stage of freezing orders or LoRs;
- enabling the speedy clarification of legal requirements for extending the duration of the freezing order, or maintaining the validity of a given seizure;
- hosting coordination meetings at Eurojust’s premises in preparation for coordinated action days, as well as organising coordination centres; and
- advising on possible conflicts between domestic freezing orders and the requested freezing measure, and on possible ne bis in idem issues.