Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-04-15-Speech-2-563-500"

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"en.20140415.75.2-563-500"2
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"This report concerns the European Account Preservation Order (EAPO), which is a civil law instrument used in the recovery of debts. Under this procedure, a creditor can freeze the assets of a debtor in another Member State prior to recovering monies owed. This is a commonly used tool domestically, but as yet no European equivalent exists. As a consequence it is difficult for companies to recover monies owing, as they are faced with national regimes which are often quite different from their home systems. The EAPO will therefore exist for cross-border purposes as a cost-reducing measure. The UK will not opt in to the EAPO at present, due to concerns about how the instrument will work in practice, and whether the correct balance has been struck between protecting the debtor and affording sufficient rights to the creditor. In view of the uncertainty about its operation, I abstained on this report."@en1
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