Innsbruck, 2016-12-01

In the Official Journal of the European Union (ABl 2014 L189/59) the regulation (EU 655/2014) on the introduction of proceedings for a European decision on attachment orders for bank accounts in respect of the facilitation of cross-border debt recovery through enforcement of judicial decisions in civil and commercial matters was published.

By the regulation coming into force on 18^th January 2017 in all member states with the exception of the United Kingdom and Denmark, cross-border cases will create an option over the entire Union to secure (including receivables not yet called) pecuniary claims by attachment of a debtor’s bank account. The state which is bringing the main action shall have international jurisdiction when issuing a decision. If the debtor is a consumer, the attachment order upon a bank account shall only be applied at his country of residence. The executing state’s attachment-exempt thresholds are excepted from the effects of attachment.

Author: Dr. Peter Waizer, attorney at law

Rechtsanwälte Waizer & Waizer Regiegemeinschaft