According to the European Commission approximately one million of smaller companies face difficulties when trying to enforce and recover outstanding receivables abroad. Thus receivables amounting up to EUR 600 million are unnecessarily written off per year, only because companies don't want to get themselves into costly and for them opaque litigations in other countries. According to its own statement, the European Commission wants to make it easier for citizens and companies to enforce and recover on cross border related receivables. In a press release of the 25 July 2011 the EC commission has produced a proposal for a resolution on preliminary garnishment of accounts, which shall be applied throughout the EC. The new European resolution should enable creditors in all member states of the EC to preliminary attach balances in banks under the same conditions, EC justice commissioner Viviane Reding announced.
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