Press Release: European Commission to cut red tape in cross-border court cases for businesses and consumers

The European Commission has proposed abolishing the “exequatur” procedure, a move that could save up to €48 million a year and facilitate cross-border business, particularly for small and medium-sized firms (SMEs). The cost saving is part of the Commission’s proposal for a sweeping reform of the so-called “Brussels I” Regulation of 2001, a set of EU rules that determine which court has jurisdiction in cross-border cases and how court judgements issued in one EU Member State are recognised and enforced in another EU country. The reform is meant to strengthen the Single Market and cut red tape. It will also reinforce the protection of European consumers when they deal with businesses in third countries, enhance legal certainty for choice of law agreements among businesses, and improve the competitiveness of Europe’s arbitration industry.