Cross-Border Attachment of Bank Accounts (Regulation)

The Proposal provides for an introduction of a European Account Preservation Order. Such order is to be issued if the existence of a debt claim is made credible. For the enforcement of a decision, Member States must appoint enforcement authorities which must approve the order without any further examination and preserve the debtor’s bank account. If the creditor does not know the debtors’ bank accounts, banks are obliged to disclose them or authorities are entitled to search for them in national registers. Debtors are not being notified until after the preservation of their accounts.