frozen asset

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 ?
Treasury during the global financial crisis in 2008 to jumpstart the frozen Asset Backed Securities (ABS) market.
The government has frozen assets worth more than Rs1 billion belonging to incarcerated Pakistan Muslim League-Nawaz (PML-N) Punjab President Rana Sanaullah Khan and members of his family over his alleged involvement in drug peddling, a news channel reported on Monday.
The top court of the United Nations at The Hague will rule today on an appeal by Iran to redeem more than $2 billion in frozen assets in the US which is trying to clog any artery of livelihood of Iranians.
(TAP) - The Tunisian government sent a letter to the European Union (EU) in Brussels asking for the release of businessman Marouane Mabrouk's frozen assets, announced Thursday I Watch on its website.
The frozen assets make up about 40 percent of Kazakhstan's total sovereign wealth fund.
Two Ukrainian oligarchs acquired Cyprus's Quickpace Ltd, a company with $160m (AaAaAeA@1/4133m) in illicit frozen assets controlled by Ukraine ousted president Viktor Yanukovych, Aljazeera reported on Sunday.
"The fact of being listed in the ordinance on frozen assets does not necessarily mean that the persons concerned hold assets in Switzerland.
these are deposits in banking accounts from which we have been withdrawing according to our needs." Tehran, in November, declared that USD five billion in frozen assets had been released after signing the nuclear accord with the super powers and that the funds were being shifted to Oman on monthly basis.
UN Secretary-General Ban Ki-moon is ready to help settle a dispute between Iran and the United States on Tehran's frozen assets, but only if both countries make that request, a UN spokesman said Friday.
Speaking about some Arab states' concern over unblocking of Iran's frozen assets in international banks, following the removal of international sanctions on the country, Alan Eyre said that the reality should be accepted - that there is a possibility that Iran may use part of unblocked assets to destabilize the region.
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.