What is the primary requirement for a freezing order applicant to meet according to the relevant rule?

The primary requirement for an applicant seeking a freezing order is to establish that they are a judgment creditor or have a good arguable case. This means that the applicant needs to demonstrate that there is a legitimate claim or cause of action against the respondent, which is likely to result in a favorable judgment if the case proceeds to trial. This requirement is crucial because freezing orders are extraordinary remedies that prevent a respondent from dealing with their assets while legal proceedings are underway. By asserting a judgment creditor status or a good arguable case, the applicant illustrates a significant interest in ensuring that the respondent does not dissipate their assets, which would frustrate any potential judgment.

The other options do not capture the essential criteria required for a freezing order. For instance, while having already collected a judgment might indicate some level of entitlement, it is not a prerequisite for seeking a freezing order. Likewise, proving that the respondent possesses significant assets is important but does not replace the need for establishing a good arguable case. Finally, demonstrating that the respondent has a valid defense would not serve the applicant’s purpose; instead, the focus is on the applicant’s own standing in the matter. Thus, the emphasis is on the applicant’s ability to present a plausible case to warrant the serious intervention of