Rise of Claims within the EU

We define the success of our clients’ financial claims to be the collection of such a claim. In practice, creditors are often frustrated to see that the final victory of a trial does not ensure the satisfaction of their claims.

Pursuant to the freedom of residence within the EU, an increasing number of European citizens and companies acquire property on European soil. The importance of the successful execution of a rule of court especially in another European country is therefore rapidly escalating; this occurs particularly when the debtor has information of the creditor’s property abroad. Once the tribunal process has been concluded, execution of a rule of court in another country becomes a crucial step in satisfying the claims of the client.

Among other legal areas, the EU Regulation (regulation 2001/44) on jurisdiction also deals with the recognition and execution of tribunals’ decisions in other European Countries. Such decisions are recognized in the other countries without the need to follow a special procedure. Thus, the executable rules of court which cannot be appealed against in one country can be executed in other countries too. The procedure to be followed in the Court of First Instance of the debtor’s domicile is somewhat formal and may be brought to a successful end without the need to amend the first rule of Court.

We provide our services in this area to both our clients in Greece and elsewhere by outlining and clarifying the identification process. In relation to the ascertainment of immobile property, we investigate local immobile property records etc.

Our firm is highly involved in the field of debt collection claims in the EU. The assessment of economical factors as well as the financially and legally sound choice (of what?) are based on the duration and costs of the procedure, national particularities and procedural and property real law. Having assessed these factors, we either opt to file a law suit or issue a payment order, when the claim can be proven exclusively by documentation.