Myanmar - Attachment of Assets
Thida Aye, Attorney, Myanmar International Legal Advisors
James Finch, Managing Partner , Russin & Vecchi, Limited
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?
In Myanmar, plaintiffs may, by virtue of the enactment of the Code of Civil Procedure of 1909 (“the Code of Civil Procedure”), obtain provisional relief affecting property of debtors to obtain security for future judgments. If there is sufficient ground that, before a judgment is passed, a debtor is about to dispose of the whole or any part of his assets or to remove them from the local limits of the jurisdiction of the court with the intent to obstruct or delay the enforcement of the future decree that may be passed against him, a plaintiff may apply to a court for an order directing the debtor to furnish security for production of any assets belonging to the debtor or placement of the same at the disposal of the court and an attachment of assets. The object of this provision is to prevent the ends of justice from being defeated.
2. What is the form of the attachment? Injunction? Other kind of judicial order? Specify.
An order calling for security for fulfillment of a decree must be made in the prescribed form, specifying the amount of money to be secured and the time given to furnish security. The order may include granting a conditional attachment of the assets. If the debtor shows cause why he should not furnish security or furnishes the required security, the court must order the conditional attachment to be withdrawn. In case of failure to furnish security or to show such cause, an attachment before judgment may be granted.5 An attachment before judgment may therefore be granted only upon failure to fulfill a requirement of a court.