Global Enforcement And Asset Recovery Series - Article 1: Recognition And Enforcement Of Judgments And Arbitral Awards

Getting a judgment or award does not automatically mean getting paid. Particularly where judgment or award debtors are in less familiar jurisdictions, there can be a strong incentive to delay or avoid payment. From the perspective of the debtor, there is little difference between being in default under a contract and being in default under a judgment or award. In such cases, obtaining judgment is simply the first step toward recovery. It is critical, therefore, for claimants and their legal representatives to consider recognition and enforcement at the outset of proceedings to ensure that the judgment can be monetized effectively

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