Provisional Attachment
Provisional Attachment as Measure for Preservation- A "measure for preservation" means a measure taken in order to freeze the debtor's property for the time being, until the right to sell the property by compulsory enforcement is obtained.
- A "provisional attachment" may be effected in order to preserve compulsory enforcement against the property of the debtor in respect of a monetary claim or a claim convertible into money. (Article 276 of the Civil Execution Act)
Effects and Advantages of Provisional Attachment- A provisional attachment may have an indirect effect of compelling the debtor to make repayment immediately, and also have a direct effect of interrupting the limitation period.
- The limitation period shall be interrupted by a provisional attachment. (Article 168 of the Civil Act)
※However, a provisional attachment shall have no effect of interrupting the limitation period if annulled on the application of the claimant or by reason of non-compliance with the law. (Article 175 of the Civil Act)
※A provisional attachment, if not effected against the person in whose favor the limitation period is running, shall not have the effect of interrupting the limitation period unless and until such person has been notified thereof. (Article 176 of the Civil Act)
How to Apply for Provisional Attachment- Procedural matters in relation to a provisional attachment shall be under the exclusive jurisdiction of the District Court having jurisdiction over the location of the property to be provisionally attached, or under that of the court having jurisdiction over the merits of the principal claim. (Articles 278 and 21 of the Civil Execution Act)
- An application form for a provisional attachment shall provide for the following items (Article 279(1) of the Civil Execution Act):
·The personal details of the applicant and his or her legal representative(s) if any (Article 249(1) of the Civil Procedure Act)
·Amount of money claimed (N.B: If the claim is not a monetary claim, such claim shall be converted into the money.)
·Material facts that may be grounds for a provisional attachment order. (Article 277 of the Civil Execution Act)
※You may find the application form for a provisional attachment at: <Korea Legal Aid Corporation's website-legal information-legal template>.
- As an order of provisional attachment may be issued without holding any pleadings (Article 280(1) of the Civil Execution Act), amount of money claimed and the grounds for a provisional attachment order shall be stated in the application form. (Article 279(2) of the Civil Execution Act)