Legal Definitions - forthcoming

In Scots law, forthcoming refers to a specific legal action that allows a creditor to claim assets that have been temporarily frozen. It is the crucial final step that transforms a temporary freeze of a debtor's assets (known as an arrestment) into an actual transfer of those funds or goods to the creditor to satisfy a debt.

Think of it this way: an arrestment is like putting a "hold" on someone's bank account or goods to prevent them from being moved or spent. The forthcoming action is the legal process that then allows the person who initiated the hold (the creditor) to actually take possession of the money or goods to which they are entitled, thereby "perfecting" the arrestment.

Here are some examples:

• Scenario: Unpaid Business Debt

  A small graphic design firm, "Creative Canvas Ltd." (the creditor), completed a large project for a client, "Urban Developments Inc." (the debtor), but Urban Developments failed to pay the £15,000 invoice. Creative Canvas Ltd. successfully obtains an arrestment over funds held in Urban Developments Inc.'s bank account. This means the bank account is frozen, and Urban Developments cannot access those specific funds. To actually get the £15,000 transferred from the frozen account to Creative Canvas Ltd., the design firm would then initiate a forthcoming action. This legal step compels the bank (the holder of the arrested funds) to release the money to Creative Canvas Ltd.

• Scenario: Recovery of Goods

  A machinery supplier, "Industrial Gears Co." (the creditor), sold specialized equipment to a manufacturing plant, "Precision Parts Ltd." (the debtor), but Precision Parts defaulted on their payment agreement. Industrial Gears Co. discovers that Precision Parts Ltd. has a new shipment of valuable raw materials sitting in a local warehouse. Industrial Gears Co. obtains an arrestment over these specific raw materials, preventing Precision Parts Ltd. from selling or moving them. To legally take possession of these raw materials as a way to recover the debt owed, Industrial Gears Co. would pursue a forthcoming action. This action would direct the warehouse to release the arrested raw materials to Industrial Gears Co.