Foreign Court Judgements and International Arbitration Awards Enforcement

Abstract

The economic cooperation and integration among various countries is constantly and inevitably increasing in the era of world globalization. The continued commercial expansion is unavoidably accompanied by civil and commercial disputes between the parties involving debtors domiciled or with assets abroad. The global economic crisis’ waves caused the general increase of commercial disputes as well. Sanctions war, trade war will only add to this number. Once a foreign court judgement or international arbitration award is obtained, only a part of the job is done, since it might be far a long way between the moment you hold a copy of enforceable award or decision in your favor and the moment when you or your company may actually cash in the proceeds.