‘Freezing’ bank accounts across Europe: the European Account Preservation Order (Altius)

Creditors have now obtained a new – and important – tool for ‘freezing’ their debtor’s bank accounts throughout Europe with one single order. EU Regulation 655/2014 of 15 May 2014 establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters (‘EAPO Regulation’) came into force on 17 July 2014 and applies from 18 January 2017.

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