Thanks Robbie. Very interesting article. Here in Oman the settled law and procedure in relation to asset freezing of the kind you describe is less developed than in the UAE though UAE jurisprudence can be persuasive in the Omani courts in the absence of anything more compelling. One of the bases you refer to in establishing grounds for obtaining an attachment order is that the securities of the debt are threatened with loss or dissipation. Can you say what sort of evidence would prima facie satisfy the court in UAE of such a threat? Does there have to be a pre-existing claim on foot by the applying party to establish a bona fide contractual debt, for example? This might stop some of the more unscrupulous applicants seeking to exploit this procedure. This is the procedure in Oman is that the court will often temporarily freeze assets pending a full examination of the company's books and assets by an administrator appointed by the court.
All the best, Stefan