Practical Considerations Of Multi-jurisdictional Enforcement of Judgments
Fresh and interesting article posted on Quinn Emanuel LLP's website providing an overview of multi-jurisdictional enforcement of judgments in U.S., UK, Russia, France, and Hong Kong. Happy reading! "With more cross-border trade and foreign investments, businesses may find themselves in more disputes with counterparties before foreign courts or in international arbitration. Where a party chooses—or the parties’ contract requires—litigation in a foreign court, it may obtain a final judgment for money damages from the foreign court. However, that court judgment may not end the dispute. The losing party (the judgment debtor) may refuse to pay on the judgment or settle the dispute at a reasonable discount in exchange for giving up appeal rights, and the prevailing party (the judgment creditor) may not have seized assets prior to the judgment. In this situation, the judgment creditor or a distressed debt fund that purchases the judgment may seek to recognize and enforce the ...