The United Kingdom's stance to the recently introduced European Account Preservation Order
In 2011 the European Commission presented a proposal for a regulation introducing the European Account Preservation Order (EAPO).This remedy allows a claimant to obtain an order preserving a defendant's bank account upon proof that the defendant is likely to thwart the enforcement of a future judgment. Banks throughout the European Union (EU) must then enforce the order. In late 2013 the Council of the European Union presented a revised text of the proposal, which was later endorsed by the European Parliament. The text was finalised in May 2014 and the new regulation1 (the Regulation) was published in the Official Journal of the EUon June 27, 2014. As confirmed in art.54, the Regulation entered into force on the twentieth day following that of its publication in the Official Journal and will apply from January 18, 2017. It will apply automatically to all Member States except the United Kingdom (UK) and Denmark, both of which have chosen not to opt in. Click to open document
