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Freezing assets in Spain

Description

Your Spanish client ceased paying your invoices. In your own country, you know what to do and how to freeze his assets. It is your intention to do the same in Spain.

Unfortunately, freezing assets in Spain is a far more difficult operation.

Spanish procedural law does not provide for an injunction procedure and therefore, an embargo can not be lifted easily. To obtain a freezing order is a more complex and difficult procedure in which the creditor has to prove not only the existence and enforceability of his claim, but also the imminent risk of the disappearance of assets.

Moreover, you are likely to be obliged to deposit an amount with the Court or to issue a bank guarantee to cover possible damages the debtor may suffer if it later appears that the freezing order was unjustly issued. It is the Spanish judge who decides the amount to be deposited or of the guarantee.

Added value

The lawyers of De Haan Abogados have the experience and knowledge to extensively inform you on the pros and cons of procedures to freeze assets in Spain. We will analyse your case based on the answers to the following questions:

Will your claim hold up against the requirements and what can be said about the guarantee the Court might impose?

What is required for filing a request for a freezing order?

What can we conclude from a cost and benefit analysis and what are the foreseeable costs of the operation? 

Which procedure is to be followed and how long is it going to take?

We will help you to decide whether or not to file for such a request explaining to you in your language the ins and outs of the procedure.

De Haan Abogados has over twentyfive years of experience with freezing assets and enforcing such orders. You have to bear in mind that in Spain unlike other countries freezing orders are enforced by civil servants who, generally speaking, do not always reach high levels of efficiency.

Related Topics

Litigation practice

De Haan Abogados is specialized in international litigation that involves various jurisdictions. Its partner is admitted to legal practice in Spain and The Netherlands. His experience, however, is not limited to those two countries but includes countless others.

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