Home Les bulletins GEAB New debt recovery rules enter into force

New debt recovery rules enter into force

Businesses, particularly small and medium-sized enterprises (SMEs), will be able to benefit from new EU rules to recover debt from debtors in other EU countries which came into force on Wednesday. About 600 million Euros are lost every year due to long and costly legal procedures preventing companies to recover money they are owed outside their home country. The proposed European Account Preservation Order (EAPO) can help companies by offering them a simple and cost-effective way to block funds that are owed.

Unpaid bills can seriously affect the bottom line of a company, says the EU’s Commissioner for Justice and Consumers Vera Jourova: “As a former entrepreneur, I know that Particularly small businesses often cannot afford the legal support necessary to bring back the money they are owed”.

“Thanks to the European Account Preservation Order, businesses and citizens will be able to recover millions in cross-border debts by requesting that the amount owed to them is blocked on the debtor’s bank accounts”…

Read more : EUBusiness, 18.01.2017

You can not comment on this article
Related articles
Geta Moldovan
15 Feb 2019

Investments, trends and recommendations (Feb 2019)

#Cryptocurrencies #euro #finance #gold #investment #oil

A reminder that our recommendations are not for speculative purposes, therefore short-term, that they don’t aim to win more, but rather to lose less (even nothing) because in the case [...]

Geta Moldovan
15 Feb 2019

International Finance: Decentralised QE

#euro #finance #governance #investment #QE #world

Have you noticed that all the efforts to regulate debt, derivatives, banks etc., made following the subprime crisis and meeting with varying degrees of success over the last ten years, [...]

Geta Moldovan
15 Feb 2019

Nuclear-gas/ France-Germany: Two behemoths to form an Energy Union in Europe

#energy #europe #finance #gas #world

In 2014, in the context of the partly energy-motivated Ukrainian crisis, European citizens became aware that 63 years after the signing of the ECSC Treaty (which, forming the basis of [...]