Does a person requesting an emergency interim measure required to provide a security deposit to the Court?
The person requesting an emergency interim measure must provide a security deposit for the following measures:
- Distraining a disputed property.
- Prohibiting the transfer of rights over a disputed property.
- Prohibiting a change in the current status of a disputed property.
- Freezing an account at a bank, another credit institution, or the state treasury; freezing a property at its depository.
- Freezing an obligor’s property.
- Suspension of the bid closure and bidding-related activities.
- Arresting an aircraft or a seagoing ship to secure the settlement of a case.
Specifically, the person requesting shall submit to the Court an asset-secured guarantee document issued by a bank or another credit institution or of another agency, organization or individual. Another method to satisfy the security deposit requirement is for the requestor to deposit a sum of money, precious metals, gems, or valuable papers as determined by the Court to be equivalent to the loss or damage which may arise from the incorrect application of the emergency interim measures.