frozen asset

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Frozen Asset

An asset that the owner may not sell or use because of a debt that has not been paid. A frozen asset is often, but not always, the pledged collateral on the debt. The asset remains frozen until the debt is settled or the creditor is otherwise satisfied. Generally speaking, the asset's owner is notified in writing that his/her asset has been frozen, but this is not always the case.

frozen asset

An asset that may not be liquidated.
References in periodicals archive ?
Global Banking News-September 29, 2015--Iran to use frozen assets to build capital levels
TEHRAN (FNA)- Managing Director of Bank Melli Iran Abdolnaser Hemmati announced on Sunday that the state-owned bank seeks to overturn the given verdict by a court of appeals in the US on its frozen assets in two American institutes.
Seif, meanwhile, said frozen assets of the central banks abroad amounted to USD 23 billion, in addition to USD 6-7 billion in oil proceeds frozen at international banks.
The meeting was an opportunity to co-ordinate on all issues related to the programme established by the United Nations and the Tunisian government to recover stolen and frozen assets, said Ali Bin Fetais Al Marri.
THE Nicosia district court has frozen assets worth around e1/45.
Those with frozen assets include Supreme Guide of the Muslim Brotherhood Mohamed Badie and his deputies Khairat El-Shater and Rashad Bayoumi.
Moving, transferring or dealing with frozen assets without the permission of the Competent Authority is prohibited.
Malcolm Walker (right) is the CEO of the high street chain and a millionaire with frozen assets.
She warned against releasing Iraqi frozen assets, because many circles, companies and countries may demand compensation for previous wars.
Those who deal with frozen assets face prosecution under the law.
Reuters As it looks to secure investment from Libya, France says it is ready to start releasing almost $2 billion in frozen assets belonging to Libya's sovereign wealth fund.
Peshawar -- Under the recommendations of Khyber Pakhtoonkhwa Govt and FATA Secretariat, the Federal government has frozen assets, including bank accounts of 22 militants involved in terrorist activities.