Has EU Really Made Cross-Border Asset Preservation Easier?
By Jef Klazen, Andrew Stafford QC, Rebecca Hume, Farrington Yates and James Booth (June 9, 2017, 3:25 PM EDT) -- Delinquent judgment debtors, beware: Under a new European Union regulation, the European Account Preservation Order (EAPO) promises to harmonize protective account measures across 26 European member states (EAPO member states).
Before Jan. 18, 2017, when a debtor was likely to evade enforcement by dissipating funds held in European bank accounts, claimants and judgment creditors had to navigate a fragmented, inconsistent and often confusing set of measures trying to freeze bank accounts. This could be difficult and expensive enough in cases in which bank accounts were located in one member state, let alone when a creditor sought to restrain multiple accounts across...
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