Below is a short description of the
main provisions.
Creditor’s rights and obligations:
·
based
on the Regulation, in case if a creditor does not have sufficient information
regarding a debtor’s bank accounts in other Member States, the creditor could
submit application to the Court in order to obtain such information. The Court
should provide data to the creditor, however, the creditor shall support the
Court with evidence or substantive grounds, which could prove, that the debtor
holds bank accounts in that particular Member State;
·
the
creditor also must submit substantive evidences to ensure the Court, that there
is an urgent necessity for the obtaining information about debtor’s accounts
and the blocking of the debtor’s account. Because without such measures, the
enforcement of the creditor’s claim will be impeded or difficult to achieve. The
Court shall take decision evaluating all evidences provided by the creditor,
whether evidences are sufficient and substantive;
·
the
Court issues Account Preservation Order in 5 -10 working days from the day of
the submission of the application. However, the debtor will be informed about
the arrest of a bank account and Account Preservation Order issued after the
bank account is arrested;
·
till
18 January 2017 bailiffs did not have rights to arrest accounts in another
Member States and the debtor should have been informed in advance regarding arrest of
bank accounts. According to the new Regulation, Lithuanian bailiffs have rights
to put foreign accounts
under arrest. It is important to mention, that debtor
will not be informed about the arrest of bank accounts in another Member
States in advance;
·
before
issuing Account Preservation Order, the Court could require the creditor to
provide security for an amount sufficient to prevent abuse of the procedure and
to ensure compensation for any damage suffered by the debtor, as a result of
the Account Preservation Order to the extent, that the creditor is liable for
such damage. The burden of proof should lie with the debtor.
Debtor’s rights and obligations:
·
the
debtor has the right to effective remedies, when bank accounts are under
arrest. The debtor could apply to the Court for a modification or a revocation
of the Preservation Order on the ground, that circumstances on the basis of
which the Order was issued have changed;
·
the
debtor could apply to the Court of Member State, where bank accounts are put
under arrest, for termination or limitation of the enforcement of the
Preservation Order.
The Regulation can be found:
http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32014R0655&from=LT
24.02.17
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