Prerequisite for Preservation of Property
Prerequisite for Preservation of Property
In accordance with the Civil Procedure Law, a party may file a petition for preservation of property with the court of competent jurisdiction if an award may become difficult to enforce or the party holding an award may incur other damages due to the acts of the other party against whom the petition for preservation of property is filed or for other justified reasons.
Upon receipt of such a petition, the court will review the petition and make an order accepting or rejecting the petition. If the petition is accepted, the court will make an order for preservation of the other party’s property or order the other party to perform or refrain from performing certain acts to avoid damage to the petitioner.
In the case of an award, the court will make such an order upon the petition of the award holder. In the case of a decree, the court will make such an order on its own initiative or upon the petition of the decree holder.
Robert Zhang 
Steve Li 