4 July 2013 by

IOU throughout the EU

In these economically uncertain times debt recovery is, unfortunately, a prospect that needs to be addressed by many businesses. In an increasingly globalised market the prospect of recovering debts may be better if overseas assets of the indebted entity are targeted.

So, what are the steps that need to be taken to enforce judgment obtained in the UK in other EU Member States?

Since October 2005 the European Enforcement Order (EEO) has been an option available for successful parties to enforce uncontested judgments obtained in England and Wales in other EU Member States (except Denmark).

In order to rely on the EEO procedure, the judgment must be uncontested which is defined as:

  • Claims where the debtor admitted the debt or agreed a consent order;
  • Claims where the debtor did not object to the claim; or
  • Claims where the debtor did not show up after originally objecting.

If you have a judgment that is uncontested, in accordance with any of the above three points, then you are potentially in a position to apply to the court that dealt with the original claim for an EEO Certificate. There are strict criteria that must be met in order to obtain an EEO Certificate. These include the following:

  • Complying with the correct methods for issuing and serving the proceedings;
  • When issuing proceedings, the document commencing proceedings contained information regarding the names and addresses of the parties, the amount of the claim and, if interest is sought, the rate of interest and the period for which it is claimed;
  • Claims where the debtor did not show up after originally objecting.

It is also possible for creditors of uncontested judgments obtained in other EU Member States to use the EEO procedure to enforce the judgment in England and Wales.

For more information about the use of European Enforcement Orders and our debt recovery services generally, please contact us on 0207 288 4700.

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Will-Writing to stay unregulated

A Will is something that many of us would rather not think about. Equally, we all acknowledge that it is an extremely significant document to prepare in ensuring that our assets and estate are administered and distributed how we wish.

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