Press Release: Council adopts European Account Preservation Order

On 13 May 2014, the Council of the European Union adopted a regulation establishing a European Account Preservation Order procedure to facilitate cross border debt recovery in civil and commercial matters.

The aim of the regulation was to facilitate cross-border debt recovery by creating a European procedure leading to the issue of a European Account Preservation Order. That European procedure would be available to citizens and businesses as an alternative to national procedures, but would not replace national procedures. It would apply only to cross-border cases.

ESO: Background information: European Account Preservation Order: Ministers endorse Commission proposal to help business recover cross-border debts http://www.europeansources.info/record/memo-european-account-preservation-order-ministers-endorse-commission-proposal-to-help-business-recover-cross-border-debts/

European Commission: RAPID: MEMO/14/342: European Account Preservation Order adopted: New EU rules will make it easier for companies to recover millions of cross-border debt http://europa.eu/rapid/press-release_MEMO-14-342_en.pdf

European Commission: DG Justice: Civil Justice: Civil and commercial matters: Freezing of bank accounts http://ec.europa.eu/justice/civil/commercial/freeze-accounts/index_en.htm

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