New European ‘Freezers’ will Provide a Fast and Effective Tool in Preserving Funds in Cross-Border Cases from January 2017

From January 2017, creditors domiciled in EU Member States that have signed up to a new European regulation will be able to avail of the new European Account Preservation Order (EAPO) which provides a novel fast track way to preserve funds held in EU bank accounts in cross-border civil and commercial disputes.  As the UK and Denmark have opted out of this legislation, this new remedy won’t be available to creditors domiciled in those jurisdictions.

The new system is designed to make it easier to identify and freeze funds in cross-border cases, where the creditor is in one Member State and the funds are held in another.  An application can be made by a creditor that has already obtained a judgment or a court settlement, or before the ‘creditor’ initiates proceedings against a debtor and up to obtaining judgment or a court settlement.  A ‘creditor’ is defined as a natural or legal person or any other entity domiciled in a Member State having legal capacity to sue or be sued and who applies for, or has already obtained an EAPO.

To read the full article please click here.

Keep reading

...
OffshoreAlert Miami – 14-16 April 2024
We would like to announce that OffshoreAlert will be delivering their Miami Event on 14-16 2024 at The Ritz-Carlton, South Beach 1 Lincoln Rd, Miami Beach, FL, United States Launched in 2002, OffshoreAlert Miami is their longest-running event – a destination conference that attracts 350 attendees from dozens of countries who combine business with pleasure, with
Read
...
C5 – 18th Edition Fraud, Asset Tracing & Recovery – Geneva – March 14-15, 2024
We are excited to announce that we are a media partner for American Conference Institute’s Fraud, Asset Tracing & Recovery Geneva conference that is taking place on March 14-15, 2024, in Geneva! Deemed as the foremost, can’t-miss event each year, the 2023 agenda will be fully revamped, and you don’t want to miss out on
Read
...
IFG Conference in Hong Kong on 25th April 2024!
We are very excited to announce that we shall be hosting the International Fraud Group’s bi-annual conference in Hong Kong this spring, organised by Karas So LLP in association with Mishcon de Reya on Thursday 25th April 2024. This is a great opportunity for you to engage with international lawyers, forensic accountants, restructuring and insolvency experts,
Read
...
OffshoreAlert is going to Bangkok!
We are delighted to be supporting event partner for Offshore’s first Asia-Pacific Conference. OffshoreAlert Bangkok! February 28 – 29, 2024 at the Siam Kempinski Hotel Bangkok 991/9 Rama I Rd, Pathum Wan, Bangkok, Thailand OffshoreAlert Bangkok is our first conference in the Asia-Pacific region and is designed to be a destination event to which attendees
Read