Originally from Attachment of Assets

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Introduction

There are three major legislative acts regulating attachment of assets of debtor in connection with civil procedures in the Republic of Belarus. They are: the Code of Civil Procedure (CCP), the Code of Economic Procedure (CEP) (together referred to as the Codes) and the Law on Executive Procedure. The first regulates judicial procedure in common courts that concerns the cases involving individuals. The second regulates judicial procedure in economic courts that solves disputes regarding economic and business activity of individuals and legal entities. The Law on Executive Procedure regulates enforcement of the order on attachments securing expected future judgments and provide the procedure of securing of the already issued judgments. Both CCP and CEP stipulate the possibility of debtor’s assets attachment. International arbitration court at the Belarusian Chamber of Commerce and Industry based on its arbitration rules may also apply attachments of assets, subject to certain features and unless otherwise provided by the parties’ agreement.

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?

Both Codes stipulate that the court based on the motion of persons participating in procedure can take measures to secure the claim. Besides, in case of judicial procedures in common courts measures to secure the claim may be taken by the court based on its own initiative. These measures allow the claimant to obtain temporary relief against the property of a debtor. This is a completely procedural measure, which does not have anything in common with alienation of property of a debtor. A debtor preserves his rights on this property, however, his rights to use or dispose of the asset are restricted by the court’s order. Noteworthy, the attachments are limited only by the amount in dispute. These are the measures to secure the future enforceability of the court’s decision, and to secure the property interests of the claimant.