The Collaborative International Dictionary of English v.0.48:

Arrestment \Ar*rest"ment\, n. [OF. arrestement.]
   1. (Scots Law) The arrest of a person, or the seizure of his
      effects; esp., a process by which money or movables in the
      possession of a third party are attached.
      [1913 Webster]

   2. A stoppage or check. --Darwin.
      [1913 Webster]

Bouvier's Law Dictionary, Revised 6th Ed (1856):

ARRESTMENT, Scotch law. By this term is sometimes meant the securing of a
criminal's person till trial, or that of a debtor till he give security
judicio sisti. Ersk. Pr. L. Scot. 1, 2, 12. It is also the order of a judge,
by which he who is debtor in a movable obligation to the arrester's debtor,
is prohibited to make payment or delivery till the debt due to the arrester
be paid or secured. Ersk. Pr. L. Scot. 3, 6, 1. See Attachment, foreign.
where arrestment proceeds on a depending action, it may be loosed by the
common debtor's giving security to the arrester for his debt, in the event
it shall be found due. Id. 3, 6, 7.