The Philippines - Attachment of Assets
Karl Arian A. Castillo, Fortun Narvasa & Salazar 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?
Under Rule 57 of the 1997 Rules of Procedure that the Supreme Court promulgated, a plaintiff desiring to secure the judgment that he may obtain in the suit may apply for the issuance of a Writ of Attachment. The court may issue the Writ once certain conditions are satisfied. A Writ of Attachment is therefore akin to an execution of the judgment in advance.
By its nature, preliminary attachment, under Rule 57), is an ancillary remedy applied for to enable the attaching party to realize upon the relief sought and expected to be granted in the main or principal action; it is a measure auxiliary or incidental to the main action. As such, it is available during its pendency, which may be resorted to by a litigant to preserve and protect certain rights and interests during the interim, awaiting the ultimate effects of a final judgment in the case. In addition, attachment is also availed of in order to acquire jurisdiction over the action by actual or constructive seizure of the property in those instances where personal or substituted service of summons on the defendant cannot be affected.
The Writ will authorize the sheriff to attach the properties in the Philippines of the party against whom it is issued, not exempt from execution, as may be sufficient to satisfy the applicant’s demand. If it involves funds and other incorporeal property, the attachment is enforced through a Notice of Garnishment.