On 18 January 2017, EU Regulation n°655/2014 establishing a European Account Preservation Order ("EAPO") procedure became fully applicable in all Member States, with the exception of Denmark and the United Kingdom. The Regulation aims to facilitate the collection of claims in civil and commercial matters by introducing a uniform European procedure for identifying and freezing funds held in a debtor's bank account(s) in another Member State. This increased transparency in terms of a debtor's assets is a particularly new development for Luxembourg. However, the Regulation has left it to Member States to determine the method of enforcement. The Luxembourg parliament has just passed a new law (Act n°7203) introducing a very straightforward enforcement procedure for EAPOs, in line with existing enforcement measures under national law.
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