Latvia - Attachment of Assets
Z. Udris, SKUDRA & UDRIS Law Offices
Originally from Attachment of Assets
1. What is the general nature and effect of judicial measures available for plaintiffs to obtain provisional relief affecting property of debtors to obtain security for judgments to be obtained (“attachments”)? Freezing property in place? Placing it in the custody of a third party, such as a court official, sheriff or marshall?
Article 138 of Latvian Civil Procedure Law (henceforth “Law”) provides for the following means of securing claims:
Article 138. Means of Securing Claims
The means by which claims may be secured are:
i) attachment of movable property and monetary funds of the defendant;
ii) entering of a prohibitory endorsement in the register of the respective movable property or any other public register;
iii) entering of an endorsement regarding the securing of a claim in the Land Register or Ship Register;
iv) arrest of a ship;
v) enjoining the defendant from performing certain actions;
vi) attachment of payments (also deposits in credit institutions and other financial institutions), which are due from third persons; and
vii) postponement of execution activities (also enjoining bailiffs from transferring money or property to a judgment creditor or debtor, or suspending of sale of property).
In securing a claim by entering of a prohibitory endorsement in the register of the respective movable property or any other public register, the decision shall indicate the way in which the prohibition shall be entered.