Litigation: A new framework for cross-border debt recovery process.

In 2011 European Commission came up with a proposal to improve and increase the effectiveness of cross-border debt recovery process, among other things, facilitating access to information about the debtor's bank accounts. On 15 May 2014 Regulation No. 655/2014 was adopted establishing a European Account Preservation Order procedure to facilitate cross-border debt recovery in civil and commercial matters. The aforementioned regulation is an important step to reduce dishonest debtors, while ensuring a wider legal protection of creditor.

For more information in Latvian, please see our INSIDER.

by Aivars Lošmanis, Partner, Latvia

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