The Multilateral Memorandum provides greater clarity on the procedures for the enforcement of judgments worldwide. Significantly its contributors include certain states of the USA which historically has been reluctant to sign up to reciprocal enforcement obligations, arbitration awards aside. It also provides additional reassurance as to the enforcement of English court judgments given the uncertainty created by Brexit. What follows is based SIFoCC’s press release.
SIFoCC was established in 2017 as a forum to bring together the world’s commercial courts. On 24 June 2019, it launched its Multilateral Memorandum on Enforcement of Commercial Judgments for Money. The Memorandum sets out an account of the procedures for the enforcement of commercial money judgments of one jurisdiction in the courts of another. Contributed to by 32 members of SIFoCC, it deals mainly with commercial judgments requiring a person to pay a sum of money to another person. Each account is provided the enforcing country itself. useful tool in global enforcement.
The aim is to demonstrate cooperation, provide a mutual understanding of laws and judicial processes in this area, and improve public perception and understanding.
Each section of the memorandum has been contributed by the judiciary of the jurisdiction concerned (with the exception of New York). The memorandum is multilateral, between all jurisdictions that are members of SIFoCC. The memorandum is designed to assist and to be used but is of no binding legal effect. It does not constitute a treaty or legislation, and is not binding on the judges of any jurisdiction. It does not supersede any existing or future laws, judicial decisions or court rules.
Generally speaking, the memorandum does not aim to include procedures for enforcement of judgments where those are provided by treaty (or otherwise) and thus only in respect of some jurisdictions rather than others. Its particular focus is as a summary of the procedures for the enforcement of judgments of commercial courts worldwide. That said, some contributions do address procedures provided by treaty. The 2005 Hague Convention and European rules are dealt with separately.
For further information contact Dispute Resolution Partner, Charles Spragge – firstname.lastname@example.org – DL: +44 (0)20 7216 5548.