EU Account Preservation Order freezes funds in the bank account of debtors in case of cross-border debt recovery both civil and commercial: a new opportunity for creditors.

[ Fonte: PMI.it ]

Since 18th January 2017 a new precautionary measure which prevents debtor from making assets unavailable to creditor has entered into force. EU Account Preservation Order freezing funds in the bank accounts may be issued if potential risks on the claims. The provisions of EU Regulation no. 655/2014 issued by both EU Council and Parliament makes this procedure directly applicable to the members states, except for Denmark and the United Kingdom. The goal is to simplify cross-border recovery of monetary claims both civil and commercial and provide more warranties.

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