The President of the Polish Republic signed an amendment to the Code of Civil Procedure and other Acts, designed to facilitate the effective application in Polish domestic legal system, of the Regulation of European Parliament and Council (EU) No 655/2014 of 15 May 2014 establishing a procedure for the European Account Preservation Order to facilitate cross-border debt recovery in civil and commercial matters (hereinafter: Regulation).
The essence of the Regulation is to enable security of creditor's claim on the bank account or an account held by another credit institution other than bank belonging to the debtor, under the same conditions in all EU countries. European Account Preservation Order granted in one Member State will therefore be recognized and enforceable in another Member State without having to bring separate proceedings. Such order does not, however, replaces funds already available to the creditors, is in fact to complement the current regulations.
The execution of the European Account Preservation Order will be carried out according to the rules in force in the Member State for similar measures.
The Regulation also requires Member States to establish a mechanism to facilitate access to information on bank accounts kept for the debtor.
The Act is effective as of 18 January 2017.
Source:
www.prezydent.pl
- Piotr Jędrusiak