AUSTRIA Law and Practice Contributed by: Bettina Knoetzl, Katrin Hanschitz, Kirstin McGoldrick and Natascha Tunkel, KNOETZL
half) and is available on the Austrian National Bank’s website. The creditor can also claim, in addition to the legal interest, compensation for other damage caused by late payment. Starting Date The starting date for interest accrual is the date when the payment obligation is due. It is owed from the day after the payment obligation becomes due until the day of actual payment. This applies both to pre- judgment and post-judgment interest. 9.4 Enforcement Mechanisms of a Domestic Judgment Types of Enforcement Different enforcement rules apply: • to monetary claims on the one hand and claims for specific performance on the other; and • depending on the assets against which the claim is to be enforced. For monetary claims, the following types of enforce- ment are available: enforcement on movables, real estate, receivables, claims for delivery and other pecuniary rights (eg, patents or company shares). In claims for specific performance, the following meth- ods can be considered: • eviction; • substitute performance; or • penalties for contempt (fines and, ultimately, imprisonment for up to a maximum of two months). Assets Subject to Enforcement Creditors can choose to enforce against real property or other specific assets (eg, a specific bank account, a specific share); or, alternatively, to request enforce- ment in the form of: • a “small bundle”, which includes enforcement against movables and the attachment of salary from existing employment; or • if the claim is in excess of EUR10,000 or the small bundle proved insufficient, an “extended bundle”, which also includes all other assets except for real property (in this case, an administrator is appoint-
ed by the court to investigate and to realise the assets). 9.5 Enforcement of a Judgment From a Foreign Country As to recognition and enforcement of foreign titles in Austria, a distinction must be drawn between titles under the Brussels Regulation and titles which do not fall under this regime. Enforcement Under the Brussels Regulation Under the Brussels Regulation, a judgment of an EU member state shall be recognised in other member states without any special procedure being required. A judgment rendered in a member state and enforce- able in that state shall be enforced in another member state without any declaration of enforceability being required and under the same conditions as apply to a domestic judgment. Enforcement Outside the Scope of the Brussels Regulation For titles which do not fall under the regime of the Brussels Regulation, it is necessary to initiate exe- quatur proceedings and to obtain a “declaration of enforceability”. The application for the declaration of enforceability may be joined with the application for the authorisation of enforcement itself. If the applica- tions are joined, there is only one proceeding, and the relevant decisions are rendered at the same time. A declaration of enforceability is only granted if the foreign judgment is enforceable according to the law of the state where it was issued and if reciprocity is guaranteed by international conventions, treaties or by regulations. This means that it is not within a court’s discretion to determine reciprocity but that there must be a legal basis confirming that Austria and the other state mutually recognise each other’s court decisions. If a court is uncertain in this regard, it will turn to the Austrian Ministry of Justice for determination and guidance.
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