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Some aspects of recognition and enforcement of foreign judgments
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.