Jurisdiction(s):
European Union

Key definition

Preservation definition

What does Preservation mean? In pensions practice, preservation refers to statutory rules that protect a member’s accrued pension rights when they leave service before retirement, so those rights are kept (deferred) rather than forfeited. In England & Wales and Scotland, preservation is set mainly by the Pension Schemes Act 1993 and the Occupational Pension Schemes (Preservation of Benefit) Regulations 1991; Northern Ireland has parallel provisions in its 1993 Act and Regulations; Ireland’s regime is under the Pensions Act 1990. Key features include: a vesting/qualifying service period (typically two years) after which the member becomes entitled to preserved benefits; provision of at least short service benefit,...

Cross-border debt recovery: European Account Preservation Orders under EU Regulation 655/2014—scope, jurisdiction, procedure, bank obligations, debtor remedies, and UK/third-state issues

Published by a LexisNexis EU Law expert

Practice notes

This Practice Note

This Practice Note examines Regulation (EU) 655/2014, which establishes the European Account Preservation Order (EAPO) procedure to streamline cross-border debt recovery in civil and commercial matters. The Regulation introduces a harmonised mechanism for Enforcement against debtors, aiming to cut Costs and delays in cross-border claims. Under the EAPO Regulation, creditors may obtain account preservation orders on uniform conditions, irrespective of the state in which the competent court sits. The note considers when EAPOs are available, the criteria for issuing an EAPO, and the procedure for applying. As third states and the Regulation’s Member States operate diverse debtor enforcement mechanisms and legal systems for granting such relief, the EAPO Regulation has brought substantial change to this area. An EAPO can only be pursued by creditors domiciled in a Member State and solely for bank accounts held in a Member State. Accordingly, the Regulation does not apply to creditors domiciled in third states, nor to accounts located in third states. However, third state entities and banks that hold accounts or conduct operations in participating Member States are subject to the Regulation. Lawyers based in third states need to be aware of...

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Thibault Boscart

Lydian

Thibault Boscart is a member of Lydian’s Commercial & Litigation practice. Thibault’s practice focuses on commercial law, ICT, TMT and data protection. He regularly assists clients in civil and commercial matters. Thibault is a member of the Dutch speaking section of the Brussels Bar....

Jo Willems

Lydian

Jo is a partner in the Commercial & Litigation practice.Jo specializes in commercial law and litigation and has extensive experience of acting for clients in strategically important disputes. He assists clients in corporate litigation as well as matters of distribution, product liability and professional indemnity. He is recommended in Legal 500 and Chambers.Jo has published several articles and regularly speaks at internal and external seminars.In 2005 Jo was admitted to the Brussels Bar and he is now a member of both the Brussels Bar and the Hasselt Bar, admitted to plead cases before all Belgian courts....

Web page updated on 21/05/2026

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