Overdue invoices? Freeze your debtor’s EU bank account

From January 18, 2017 you can easily block your debtor’s bank account located in the EU by applying for a “European Account Preservation Order”.
 
The proceedings have one pre-condition: the registered seat or the address of both the debtor and the creditor must be in the EU. The creditor has to prove that there is a risk that, without such a measure, the subsequent enforcement of his claim against the debtor will be impeded or made substantially more difficult.
 
You do not even have to be aware of the foreign bank account; it is enough if you presume that the debtor has one. According to the Regulation the information authority of the Member State of enforcement may be requested to obtain the necessary information.
 
You may not apply for a preservation order in certain cases. About the exceptions and other details we would be happy to advice you in person.

If the Preservation Order seems to be useful in your case, please do not hesitate to contact our experts at Ecovis Hungary Legal.