EU Approves Out-Of-Court Asset Seizure For Unpaid Loans

Law360, London (November 28, 2019, 11:40 AM GMT) -- European Union governments have waved through rules that will allow lenders to claw back assets from business borrowers who cannot repay their loans without having to go to court, in a move to stop the bloc's €636 billion ($700 billion) stockpile of "bad debt" growing.

The Council of the European Union said on Wednesday that it has approved an EU-wide framework and minimum requirements that will allow banks to recover outstanding loans that have been guaranteed with collateral — without paying out for potentially costly legal fees. The process will also be quicker than going to court and will help prevent...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Government Agencies