Foreign judgments can serve as the basis for bankruptcy or winding-up petitions even if not formally recognised in the courts of England and Wales, two recent judgments confirm. However, the process is not automatic, as Lauren Pardoe, partner, and Camilla Pratt, senior associate, in Rosling King’s dispute resolution group, write in this week’s NLJ.
Pardoe and Pratt cover the cases and comment on their impact. They write that the rulings ‘are welcomed by those of us acting for international creditors, especially those seeking to enforce judgments from jurisdictions with no reciprocal enforcement arrangements with England and Wales’.
However, the authors also set out the benefits and disadvantages of using the approach of the judgments. Moreover, they highlight the threshold that must be met for the English courts to enforce the foreign judgment.RELATED ARTICLES
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