Precautionary Attachment Decision and Objection Methods
Summary: Normally, attachment cannot be made before the execution proceeding is finalized (7 days after notification to debtor). However, if the creditor convinc...
Normally, attachment cannot be made before the execution proceeding is finalized (7 days after notification to debtor). However, if the creditor convinces the court that “The debtor is smuggling assets!”, they can obtain a “Precautionary Attachment” decision and seize all accounts and assets overnight without the debtor knowing.
1. Conditions
- Due Debt: The payment day of the debt must have arrived.
- Security: The court asks the creditor for 10-15% security against the possibility of being unjustified.
- Risk of Flight: Even if the debt is not due, a decision can be made if the debtor has no domicile or is preparing to flee.
2. Procedure Completing the Attachment
The creditor who obtains the decision must initiate execution proceedings or file a lawsuit within 10 days. Otherwise, the attachment is automatically lifted.
3. Objection to Precautionary Attachment
The debtor can object to the court that gave the decision within 7 days from the moment they learned of the attachment.
- Reasons: Objections are made for reasons like “Court has no jurisdiction”, “Debt is not due”, “Security was not deposited”. Objection to the merits of the debt (“I don’t owe this”) is not made here; that is the subject of a negative declaratory action.
Frequently Asked Questions
Q: Can a sale be made with precautionary attachment? A: No. Precautionary attachment only puts a “Block”, prevents sale. To make a sale, the proceeding must be finalized (notification of payment order and passing of objection-free period).
Legal Support: You can contact us for objection to unjust precautionary attachment decisions and compensation lawsuits.
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