SIMPLIFIED EU PAYMENT PROCEDURE EU COUNCIL OF MINISTERS
March 1st, 2006
BY ALAN OSBORN
LAWYERS settling cross-border financial disputes within the European Union (EU) will be offered a simplified EU system for receiving and sending payments, allowing them to bypass complicated national administrative rules. The EU Council of Ministers for justice and home affairs agreed in principle to establish this 'European Order for Payment Procedure', hastening the payment of compensation, debts or damages in uncontested cross-border cases. Disputes covered by the new system could, for instance, include a UK company buying defective goods from ...
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