Concept, Legal Nature and Law Applicable to Recognition and Enforcement of Foreign Judgments
The difficulties of enforcing foreign judgments in different countries are well-known and present an important concern for foreign companies and investors doing business on the territory of another country. The establishment of a new level of relationship among countries all over the world including the development of economic (commercial) and cultural liaisons can be considered as one of the priorities of foreign policy. This paper analyzes the current legislation of different countries, judicial decisions on recognition and enforcement of foreign judgments as well as writings of scholars on the existing obstacles and problems. Today, legal disputes involve aspects of private international law to a greater extent than ever. It has become a matter of great importance that the delays involved to enforce a judgment rendered abroad shall not be greater than those expected in purely domestic litigation. The idea is gaining ground that one who seeks justice shall not be denied an effective remedy merely because their adversary's property or the adversary them self are out of the jurisdiction of the adjudicating court. Much thought has been given to this problem of recognition and enforcement of foreign judgments by the legislature of the Russian Federation, the United States of America and the European Union, and this paper uses the law of each as a case study.