Do you need to recover a debt in Italy?
The European Order for Payment is a simplified proceeding, aimed at getting the balance for uncontested pecuniary claims. This procedure was established in 2008 by Regulation EC no. 1896/2006 with the specific purpose to simplify and reduce the costs for cross-border debt collections. As defined by the regulation, disputes may be considered as cross-border when one of the parties resides in two different Member States.
In order for the European Order for Payment be issued the following requirements must be met:
- The credits must be uncontested and determined in their amount;
- The parties must be from two different Member States.
The order is directly enforceable. However, the other party may file an opposition within 30 days from the notification. In this case, the proceedings shall continue before the court of the Member State where the proceeding was filed first.
VGS Lawyers and its Litigation team has a wide expertise in cross border debt recovery and credit collection. Feel free to leave your enquiry and contact details and we will be contacting you within 24 hours.