The matters of execution of receivables are regulated by the provisions of the Civil Procedure Code. It provides for a number of ways in which the claims can be pursued. The essential and at the same time the easiest way is the execution against bank accounts deposits.
As it is often the case that the funds in bank accounts prove insufficient, the claims can be satisfied against other assets – be it movables (e.g. household appliances and audio/video devices), immovables (e.g. a flat owned by the debtor) or receivables due to the debtor. The last category encompasses a broad range of assets as it includes the loans granted by the debtor, the remuneration due on the basis of an employment relationship or pension/retirement/annuity benefits. Finally, the execution can be conducted against property rights of other nature (e.g. shares in a company).
It is crucial not to confuse the execution of receivables in the regime of civil law with the execution in administration – governed by separate provisions. Neither should it be associated with debt collection (vindication) proceedings, as the former aims at achieving an amicable solution in the first place, and only if it proves unavailable, does it turn to litigation in order to obtain execution title and the enforceable title. Having obtained both titles, the case can be passed on to the court enforcement officer (bailiff). This initiates the execution proceedings.
CGO Legal law firm supports the creditors in their efforts to collect their receivables. We prepare the necessary documentation, represent the Client before courts and track the execution proceedings conducted by the court enforcement officer (bailiff).