19 September 2016
Enforcing debt when trading with Eurozone customers
Recovery debt is always a complicated matter for businesses, and even more so when the debtor is located abroad.
The Shulmans dispute resolution team was recently instructed by a German company to help recover debt owed by a business located in the UK. We were able to enforce the debt effectively in the UK courts on behalf of our client.
But with the UK due to leave the EU in a little over two years, the question arises as to whether it will be possible, and if so, easy, for an EU company to recover debt owed by a UK business, and the same for a UK company which is owed money by an EU organisation.
This question is important, as it has enormous implications for those UK businesses who trade with the EU.
In article published by International Finance Magazine, Sophie Brackenbury, dispute resolution solicitor at Shulmans LLP, explains the potential risks and the strategy that businesses who currently trade or who intend to trade with the EU might want to start putting in place to mitigate risks.