Home 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
GEAB
15 Apr 2021

Investments, trends and recommendations (April 2021)

#bitcoin #Inflation #investments

Prices: Inflation, inflation, inflation // Equity markets: Reversal for sure  // Taxes: What else?  // Bitcoin-gold: Decoupling  // _______________________________ Prices: Inflation, inflation, inflation // Whichever direction you look, inflation is [...]

GEAB
15 Apr 2021

Doing Business in 2025: A handbook for students and schools to make the most of the billions of jobs in sight!

#economy #éducation

The year 2025 is not so far ahead but it is a relevant horizon because it corresponds to the moment when beginner business students will resolutely enter the job market. [...]

GEAB
15 Apr 2021

China’s Political Timeline

2021-2022 18-21/04/2021: The Boao Forum for Asia (BFA) Annual Conference 2021, “A World in Change: Join Hands to Strengthen Global Governance and Advance Belt and Road Cooperation” will take place [...]