The European Account Preservation Order
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The European Account Preservation Order

A Commentary on Regulation (EU) No 655/2014

9781800880290 Edward Elgar Publishing
Edited by Elena D’Alessandro, University of Turin, Italy and Fernando Gascón Inchausti, Complutense University of Madrid, Spain
Publication Date: 2022 ISBN: 978 1 80088 029 0 Extent: 488 pp
This comprehensive Commentary provides article-by-article exploration of EU Regulation 655/2014, analysing and outlining in a straightforward manner the steps that lawyers, businesses and banks can take when involved in debt recovery. It offers a detailed discussion of national practice and legislation in order to provide context and a deeper understanding of the complex difficulties surrounding the procedural system created by the European Account Preservation Order (EAPO) Regulation.

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Critical Acclaim
Contributors
Contents
More Information
This comprehensive Commentary provides article-by-article exploration of EU Regulation 655/2014, analysing and outlining in a straightforward manner the steps that lawyers, businesses and banks can take when involved in debt recovery. It offers a detailed discussion of national practice and legislation in order to provide context and a deeper understanding of the complex difficulties surrounding the procedural system created by the European Account Preservation Order (EAPO) Regulation.

Aiming to offer a practical and comprehensive overview of the EAPO Regulation, this book highlights its strengths and potential to increase the efficiency of cross-border debt recovery within the European judicial area. D’Alessandro and Gascón Inchausti examine the descriptive and analytical literature focusing on the EAPO Regulation, while also considering available reports and national case law databases. The book also takes into account the interplay between the EAPO Regulation and the other instruments of the European Law of Civil Procedure, and provides analysis of the case law of the Court of Justice of the European Union and national courts.

Key Features:

• Article-by-article commentary and analysis
• Practical direction in the field of cross-border debt recovery
• Detailed discussion of national practice within the EU
• A contextual approach

Offering a clear and direct way to address the issues and solutions surrounding EAPO Regulation, this comprehensive book will be an ideal companion for legal practitioners specializing in debt recovery as well as students interested in European law and finance.
Critical Acclaim
‘Getting judgments may often seem the easy part; enforcing them is the main event. In the EU, this enforcement effort can be complicated by diverging practices in EU member states. The recent adoption of an EU-wide procedure offers positive results, and the fact some 55 billion Euros in judgments go unpaid each year proves the need for something like this. This book, by leading academics, introduces and explains the new procedure. It should be of great use to every judgment holder in every EU member state.’
– Richard Marcus, University of California, Hastings College of the Law, US
Contributors
Contributors: Caterina Benini, Silvana Dalla Bontà, Elena D’Alessandro, Pietro Franzina, Fernando Gascón Inchausti, Katharina Lugani, Martina Mantovani, Elena Alina Ontanu, Guillaume Payan, Pilar Peiteado Mariscal, Carlos Santaló Goris, Guillermo Schumann Barragán, Elisabetta Silvestri, Enrique Vallines García, María Luisa Villamarín López, Marcin Walasik
Contents
Contents:

Preface xxii

General introduction 1
Elena D’Alessandro and Fernando Gascón Inchausti

PART I SUBJECT MATTER, SCOPE AND DEFINITIONS
1 Subject matter 7
Marcin Walasik
2 Scope 17
Marcin Walasik
3 Cross-border cases 35
Marcin Walasik
4 Definitions 49
Mar.a Luisa Villamarín López

PART II PROCEDURE FOR OBTAINING A PRESERVATION ORDER
5 Availability 63
Elisabetta Silvestri
6 Jurisdiction 69
Pietro Franzina
7 Conditions for issuing a preservation order 80
Elisabetta Silvestri
8 Application for a Preservation Order 84
Katharina Lugani
9 Taking of evidence 96
Elisabetta Silvestri
10 Initiation of proceedings on the substance of the matter 100
Fernando Gascón Inchausti
11 Ex parte procedure 112
Fernando Gascón Inchausti
12 Security to be provided by the creditor 118
Pilar Peiteado Mariscal
13 Liability of the creditor 130
Pietro Franzina and Caterina Benini
14 Request for the obtaining of account information 144
Carlos Santaló Goris
15 Interest and costs 159
Guillaume Payan
16 Parallel applications 164
Pilar Peiteado Mariscal
17 Decision on the application for the preservation order 175
Guillaume Payan
18 Time-limits for the decision on the application for a preservation order 185
Guillaume Payan
19 Form and content of the Preservation Order 193
Guillermo Schumann Barragán
20 Duration of the preservation 200
Guillermo Schumann Barragán
21 Appeal against a refusal to issue the Preservation Order 206
Enrique Vallines García

PART III RECOGNITION, ENFORCEABILITY AND ENFORCEMENT OF THE
PRESERVATION ORDER
22 Recognition and enforceability 218
Elena D’Alessandro
23 Enforcement of the Preservation Order 224
Elena D’Alessandro
24 Implementation of the Preservation Order 230
Elena Alina Onţanu
25 Declaration concerning the preservation funds 245
Katharina Lugani
26 Liability of the bank 251
Pietro Franzina and Caterina Benini
27 Duty of the creditor to request the release of over-preserved amounts 257
Elena Alina Onţanu
28 Service on the debtor 265
Fernando Gascón Inchausti
29 Transmission of documents 274
Guillermo Schumann Barragán
30 Preservation of joint and nominee accounts 279
María Luisa Villamarín López
31 Amounts exempt from preservation 286
María Luisa Villamarín López
32 Ranking of the Preservation Order 293
María Luisa Villamarín López

PART IV REMEDIES
33 Remedies of the debtor against the Preservation Order 299
María Luisa Villamarín López
34 Remedies of the debtor against enforcement of the Preservation Order 308
María Luisa Villamarín López
35 Other Remedies Available to the Debtor and the Creditor 316
Katharina Lugani
36 Procedure for the remedies pursuant to Articles 33, 34 and 35 319
Silvana Dalla Bontà
37 Right to appeal 331
Silvana Dalla Bontà
38 Right to provide security in lieu of preservation 339
Carlos Santaló Goris
39 Right of third parties 345
Elena D’Alessandro

PART V GENERAL PROVISIONS
40 Legalization or other similar formality 353
Martina Mantovani
41 Legal representation 361
Guillaume Payan
42 Court fees 367
Guillermo Schumann Barragán
43 Costs incurred by the banks 371
Carlos Santaló Goris
44 Fees charged by authorities 376
Guillermo Schumann Barragán
45 Time frames 379
Guillermo Schumann Barragán
46 Relationship with national procedural law 383
Elena D’Alessandro
47 Data protection 386
Martina Mantovani
48 Relationship with other instruments 398
Guillermo Schumann Barragán
49 Languages 405
Carlos Santaló Goris
50 Information to be provided by Member States 414
51 Establishment and subsequent amendment of the forms 416
52 Committee procedure 417
53 Monitoring and review 418
54 Entry into force 420
Pilar Peiteado Mariscal
Annex I 423
References 433
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