On December 6th 2012, European justice ministers reformed the “Brussels 1” Regulation that will be applicable within two years. It was decided that in order to facilitate the recognition of an EU member state court ruling by other member states, the “exequatur” procedure would be repealed.
Exequatur instituted a complex and costly procedure for rulings to be recognized in other EU states in civil and commercial cases.
When the new regulation comes into effect, rulings will automatically be recognized in every other EU states without having to undertake any procedures, thus greatly simplifying and accelerating the process.
The United Kingdom, Ireland and Denmark will also apply this Regulation