Luxembourg repeals exequatur

Actualités & commentaires, Secteur financier


As a result of the entry into force of Regulation “Brussels Ibis” (Regulation (EU) n°1215/2012 of 12 December 2012 on juridiction, recognition and enforcement of judicial decisions in civil and commercial matters), Luxembourg adopted a new provision in its procedural code (Nouveau Code de procédure civile) to reflect the abolition of exequatur by EU Regulation Brussels Ibis and to introduce a new procedure opening the possibility for a defendant to request the refusal of the recognition of a judicial decision rendered in another EU member state in relation to which enforcement is sought in Luxembourg. The competent jurisdiction for this procedure is the president of the District court sitting in urgency matters (en matière de référé). This reform was generally welcomed as an important factor to advance the mobility and free circulation of judicial decisions in Europe.