Banking Disputes Quarterly - Q2 2014

In This Issue:

- On The Horizon

- Recent Developments & Cases

- Spotlight On

- Excerpt from On The Horizon:

Progress towards a European Account Preservation Order -

Progress has been made on the European Commission’s proposal for a European Account Preservation Order (EAPO). The proposal provides a Europe-wide mechanism in cross-border cases to prevent debtors from removing or dissipating funds held in European bank accounts whilst procedures to obtain and enforce a judgment against them are ongoing.

Both the European Parliament and the General Affairs Council have now adopted the same final text for the proposed Regulation. The next step will be publication of the EAPO Regulation in the Official Journal. The Regulation will then enter into force 20 days after publication and will apply 30 months thereafter.

Although the EAPO Regulation will be directly applicable in EU Member States, the UK and Denmark are currently opted out. It remains to be seen whether they will now opt-in.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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