The main provisions of EU Regulation 655/2014 (the “Regulation”) will come into force on the 18.01.2017. The Regulation was adopted on the 27.06.2014 in order to facilitate cross-border debt recovery in civil and commercial disputes. The Regulation established the European Account Preservation Order (“EAPO”). When adopted the Regulation will create a standalone mechanism allowing creditors…
A new EU Regulation has come into force which establishes a European Account Preservation Order (EAPO) procedure. It is intended to facilitate cross-border debt recovery in civil and commercial matters (Regulation (EU) 655/2014). The main provisions will not however apply until January 2017. Under the new procedure, a creditor will be able to obtain an…
New EU rules making it easier for companies to recover claims across borders have been adopted today by EU Ministers. The new regulation is expected to be be published in the Official Journal (the EU’s Statute book) in June 2014 and will be directly applicable in the Member States (except in the UK and Denmark which have opted…