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We have been unable to find any authority which provides that a freezing order, without more, creates a trust in favour of an applicant/claimant. However, the following information may be useful.
The definition set out in The Law of Trusts and Trustees 18th edition by Underhill and Hayton was adopted by the Court of Appeal in Green v Russell per Romer LJ:
'A trust is an equitable obligation, binding a person (who is called a trustee) to deal with property over which he has control (which is called the trust property), for the benefit of persons (who are called the beneficiaries or, in old cases, cestuis que trust), of whom he may himself be one, and any one of whom may enforce the obligation.'
No trust will exist where one legal person holds property for his, her or its own benefit and to which he, she or it is absolutely and indefeasibly entitled in equity. However, where that property is held by others, a trust will exist even though the beneficiaries
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