Sequestrations financial definition of sequestrations
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sequestration the confiscation of an organization's assets by a court following contempt of court by the organization. Its assets come under the control of a sequestrator, usually an accountant, until the organization can show that it has purged its contempt. Sequestration can be used to ensure that funds are available to pay any fines resulting from the contempt of court. In the late 1980s a number of TRADE UNIONS were subject to sequestration orders, in most cases as a result of violating the law on SECONDARY ACTION and strike ballots.
sequestration the holding of part of the ASSETS of parties involved in an INDUSTRIAL DISPUTE or other dispute by a third party (the sequestrator) until the dispute is settled. Sequestrators are often appointed by the courts as a means of enforcing fines against TRADE UNIONS who are in breach of employment legislation.