Procedures for recognition and enforcement of foreign judgments in Russia
Article deals with Procedures for recognition and enforcement of foreign judgments in Russia
In the modern globalized world almost all the transactions involve a foreign element which inevitably leads to the disputes arising in a foreign country. This is old news for Russian citizens and companies who find themselves more often than ever in the middle of litigation abroad. However, lawyers are well aware that winning a lawsuit is not the end – seeking recognition and enforcement of the judgment is the next step. Enforcing judgments in Russia is a tricky business, the one that many are not ready to encounter. Although Russia is a party of about thirty agreements on mutual recognition of the foreign judgments, there are no such agreements with major European countries or America. In such cases, the principles of comity and reciprocity come into play. Even if there is a legal basis for recognition, then when is the court allowed not to recognize or enforce it? Russian foreign policy does reflect the need for establishing a new level of connection with the countries of the world community by enhancing economic, trade and cultural relations. As a prerequisite for this though, Russian legislation must adequately protect the rights and legitimate interests of foreign partners. Certainty of a result is what attracts businessmen, especially foreign investors. Therefore, the law on recognition and enforcement of foreign judgments (hereinafter - REFJ) must lead to a stable and predictable outcome. This paper is dedicated to analysis of the current Russian legislation, judicial decisions on REFG as well as writings of scholars on the existing problems obstacles and problems. Moreover, here will be discussed the peculiarities of the law of the United States of America on the recognition and enforcement of foreign-country judgments.
One of the most groundbreaking sociology texts of the mid-20th century, Howard S. Becker’s Outsiders is a thorough exploration of social deviance and how it can be addressed in an understanding and helpful manner. A compulsively readable and thoroughly researched exploration of social deviance and the application of what is known as "labeling theory" to the studies of deviance. With particular research into drug culture, Outsiders analyzes unconventional individuals and their place in normal society. (Simon and Schuster)
Enforcement outcomes against excessive pricing in Russia are controversial. Since many infringement decisions do not sustain judicial review, there is a recent shift from ex post intervention to ex ante price remedies by competition authorities. The objective of this chapter is to show that modest enforcement records are explained by the absence of convincing standards for price excessiveness but not by the weakness of theories of harm. The analysis of the Russian competition authority’s decisions involves three aspects, including enforcement targets, standards for establishing excessive margin, and reasons for court decisions. The competition authority develops guidelines to prove excessive pricing which do not convince the courts. Thus, the development of a reliable test is of high importance.
The paper studies collective preferences of the financial self-regulatory organizations (SRO) with regard to financial market inefficiency. A model of financial industry professionals' combined utility dependence on their collective preferences parameters was analyzed. It was determined that it is unreasonable to allocate enforcement regulatory powers to SROs, because proper SRO enforcement contradicts to the commercial interests of its members. But, simultaneously, the commercial interests of the industry professionals are aligned with SRO rulemaking interests. SRO can be a highly efficient institute in regulatory rules and financial market infrastructure design. It is also shown that the proposed parameters of the US SROs' activity are closely related to the World Bank US governance indicators. It was determined that these parameters are institutional in their nature and can serve as indicators of the financial market regulatory system quality.
The paper deals with the collective behavior of the US financial industry professionals. A relative majority voting procedure is proposed as a means of their preferences aggregation. Parameters of the US SRO activity that are based on the quantitavely revealed SRO preferences with regard to market efficiency are introduced and studied. The relationship between these parameters and the functions of representative investor risk aversion is also considered. It was shown that the parameters can serve as market integrity indexes.
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мировое управление и управляемость, Мировая экономика, международное экономическое право, энергетическая хартия, International control and controllability, International economics, international economic law, Energy Charter
международное частное право; недвижимость; ; школа бартолистов; бартолисты; теория статутов; статуарная теория/