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Neena Calls for Powers on Debtors Assets

Neena Gill (Labour, West Midlands) has called on the European Commission to make it easier for small and medium sized businesses to chase monies owed to them and access the help they need to do so.

In her report on Debtors Assets Neena calls for a range of measures including the introduction of simpler and more flexible procedures across the EU which allow for greater cross border cooperation between courts and interim payment orders giving creditors immediate payment.

Speaking from Strasbourg Neena said: “In a region like the West Midlands where some 99% of companies employ less than 50 people these proposals are crucial. Small and medium sized enterprises often simply do not have the time or the financial clout to chase debts through the courts – especially when those who owe the money are located abroad.”

“My report is a timely call for clarity and transparency on this issue – more necessary now than ever given the volume of trade that we as a region and a country do with the EU.”

“Helping SMEs weather the financial storm must be a multi pronged attack. While assisting the big companies like JLR has a great effect on the supply chain and SMEs this report also calls for simple, practical help for businesses trying to recover money which is rightfully theirs.”