Lawsuits can take a lot of time to resolve, which means that parties involved might have to wait years before they receive damages or other legal remedies. In the meantime, any ongoing harm may continue, or assets could be hidden, causing irreparable harm.
An injunction is an urgent form of legal remedy granted by the courts in situations that warrant immediate, urgent action to prevent such harm.
Who can ask the court for an injunction?
Any party may bring a motion to ask the court to grant an injunction with respect to any matter in which they have a common interest. This includes parties to litigation, banks, shareholders, creditors, spouses, and any other stakeholder that can show such an interest. Where a matter is extremely urgent, such a motion may be commenced before initiating legal proceedings, so long as the proceedings are in progress “forthwith”.
What types of situations warrant an injunction?
The party seeking an injunction must show the court that the subject matter of their underlying legal claim is not frivolous or vexatious. Next, they must prove that they would suffer “irreparable harm” if the injunction is not granted, and that this harm outweighs any potential harm or prejudice that may result to other parties with an interest in the matter.
Injunctions have been granted to:
- Freeze accounts and safeguard assets;
- Obtain access to evidence, including documents and computer files;
- Preserve the status quo pending the outcome of litigation;
- Stop ongoing or continuing acts that are causing harm;
- Force the performance of a contract, such as sale of a property; and
- Stay legal proceedings.
Although they are only granted in exceptional circumstances, an injunction is a valuable tool to protect financial assets or property pending lengthy litigation.
Legal advice for urgent injunctions and emergency legal relief
At Financial Litigation, we set our firm apart by being responsive and accessible to our clients, seven days a week. When it comes to seeking an injunction, hesitating can result in ongoing harm and potentially limit your right to relief, so we act quickly to protect your interests. To schedule an appointment, contact us online or call 416-769-4107 x1.