Hope on Russian enforcement
March 01, 2010
The Rentpool case should mean more foreign judgments are enforceable in Russia. But don’t get too excited just yet
A recent decision by Russia’s supreme commercial court has confirmed that foreign civil and commercial judgments may be enforced in Russia based on the principles of “reciprocity and comity between nations”. Whilst it remains too early to tell how this precedent will be interpreted and followed by Russian courts of first instance, it potentially opens the way for the enforcement of decisions from any country that itself enforces Russian judgments. This should include judgments from England, the US and many other countries, which have not hitherto been enforceable because they do not have a reciprocal enforcement treaty with the Russia. The decision may be a turning point in the Russian judiciary’s approach to foreign judgments, and very welcome news for foreign investors.
The difficulties of enforcing foreign judgments in Russia are well-known and are an important concern for foreign companies and investors. The enforcement...
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