The European Account Preservation Order for debt recovery between EU countries

 

SUMMARY OF:

Regulation (EU) No 655/2014 — European Account Preservation Order

WHAT IS THE AIM OF THE REGULATION?

It aims to facilitate debt recovery between EU countries in civil and commercial matters.

It establishes a new procedure allowing a court in one EU country to freeze funds in the bank account of a debtor in another EU country.

KEY POINTS

A European procedure is established whereby a creditor is able to obtain a European Account Preservation Order (EAPO) that blocks funds held by the debtor in a bank account or accounts in another EU country(ies).

Scope

The EAPO is available to citizens and businesses:

It applies to financial claims in civil and commercial matters, excluding the following matters:

Some categories of specially protected bank accounts are also excluded.

The EAPO is not available for creditors or bank accounts based in Denmark or the United Kingdom (1).

Procedure for obtaining an EAPO

Recognition, enforceability and enforcement of the EAPO

Safeguards for the debtor

In order to counterbalance the absence of a prior hearing, there are the following safeguards for the debtor against the abusive use of the EAPO:

Forms

There are nine dedicated EAPO forms in total. Their content is set out in Implementing Regulation (EU) 2016/1823.

General rules

FROM WHEN DOES THE REGULATION APPLY?

The regulation has applied since 18 January 2017 with the exception of its Article 50, which has applied since 18 July 2016. Article 50 relates to the information to be supplied by EU countries, such as the courts that they designate to issue (Article 6(4)) and the authorities to enforce EAPOs.

BACKGROUND

The regulation follows a Green Paper on improving the efficiency of enforcing judgments in the EU. In it, the European Commission described how the fragmentation of national rules on enforcement negatively affected debt collection within the EU, and observed that in practice a creditor seeking to recover a monetary claim in Europe will most commonly try to do so by taking enforcement actions against the debtor’s bank account, and that such procedures exist in most EU countries.

For more information, see:

MAIN DOCUMENT

Regulation (EU) No 655/2014 of the European Parliament and of the Council of 15 May 2014 establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters (OJ L 189, 27.6.2014, pp. 59-92)

RELATED DOCUMENTS

Commission Implementing Regulation (EU) 2016/1823 of 10 October 2016 establishing the forms referred to in Regulation (EU) No 655/2014 of the European Parliament and of the Council establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters (OJ L 283, 19.10.2016, pp. 1-48)

Regulation (EC) No 1393/2007 of the European Parliament and of the Council of 13 November 2007 on the service in the Member States of judicial and extrajudicial documents in civil or commercial matters (service of documents), and repealing Council Regulation (EC) No 1348/2000 (OJ L 324, 10.12.2007, pp. 79-120)

Successive amendments to Regulation (EC) No 1393/2007 have been incorporated into the original document. This consolidated version is of documentary value only.

Green Paper on improving the efficiency of the enforcement of judgments in the European Union: the attachment of bank accounts (COM(2006) 618 final, 24.10.2006)

Council Regulation (EC) No 1206/2001 of 28 May 2001 on cooperation between the courts of the Member States in the taking of evidence in civil or commercial matters (OJ L 174, 27.6.2001, pp. 1-24)

See consolidated version.

last update 04.12.2017



(1) The United Kingdom withdraws from the European Union and becomes a third country (non-EU country) as of 1 February 2020.