Tunisia - Attachment of Assets
Originally from Attachment of Assets
Page Preview
1. What is the general nature and effect of judicial measures available for plaintiffs to obtain provisional relief affecting property of debtors to obtain security for judgments to be obtained (“attachments”)? Freezing property in place? Placing it in the custody of a third party, such as a court official, sheriff or marshall?
Tunisian system regarding the right for plaintiff to secure his debt, considers two aspects: a general privilege over the debtor’s assets; an attachment of assets.
(a) The general privilege over the debtor’s assets result from a contract either a mortgage or a pledge. These contracts are very formal in the way than some legal principles such as description of the asset, location, value and terms of the credit a loan must be included in such contracts. The privilege grants a permanent security to the creditor until full reimbursement of the debt and the fact, by the debtor to sell or distract any of the assets is considered as a fraud and criminal offence. The signatures on the mortgage or pledge must be certified/ notarized, the mortgage or pledge be registered with the ministry of finance (tax formality) and recorded on the National Register of Companies if granted by a corporate entity or on the mortgage/pledge register and this in order to be opposable to third parties.
(b) The attachment of the debtor assets results always from a court order or a judgment rendered, even appealed, and not yet enforceable. If the plaintiff is holding a “title” such as a debt recognition, a bill of exchange or a check, he shall present to the President of the court which has jurisdiction over the case, a request for attachment of his debtor assets. The judge, if he considers that the debt exists, authorizes the attachment of the debtor assets.
