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ARTICLE · 24 JUNE 2021

Full-scale Reform Of Austrian Execution Law

On 1 July 2021, comprehensive amendments to the Austrian Execution Code (EO) will enter into force.

AustriaInsolvency/Bankruptcy/Re-Structuring

On 1 July 2021, comprehensive amendments to the Austrian Execution Code (EO) will enter into force. They are the (tentative) conclusion to the reforms of execution law which started with the 1991 Amendment to the Austrian Execution Code (Exekutionsordnungsnovelle 1991).

The current amendment is designed to boost the efficiency of execution proceedings to collect debts. The new (extended) “execution package” aims to further reduce the principle of speciality, according to which the creditor needs to choose the remedy and object of execution in the application, and to reduce the number of applications for execution.

(Extended) execution package

As a new feature, an application for execution that does not explicitly name specific means of seizure will automatically include seizure of chattels, seizure of wages/salaries, and the creation of a list of assets. In doing so, the reform reflects current practice while avoiding problems of boundaries between the types of

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