Attachment of Bank Accounts

The attachment of bank accounts is one of the more effective enforcement measures available under Spanish law. Once an enforceable title has been obtained, the court may order financial institutions to freeze and transfer funds held by the debtor (Article 588 LEC). Because liquid funds are generally easier to realise than other assets, account attachments can produce results quickly.

The measure is only available, however, once the creditor holds an enforceable title —a judgment, an unopposed payment order or another recognised enforcement instrument— and is carried out within enforcement proceedings, subject to the debtor's other creditors and to the rules on unattachable amounts. The availability of this measure is one of the practical advantages of pursuing judicial recovery in Spain.

Once an enforceable title is in place, we apply for and pursue the attachment of the debtor's bank accounts before the Spanish enforcement court.