Following where assets are located is key to create an
effective dispute resolution strategy when going after
potential debtors and enforcing judgments, according to
panellists at the Asialaw Asia-Pacific Dispute Resolution
Summit in Hong Kong on September 20.
To ensure chances of asset recovery and to be able go after
debtors, it's important to structure and safeguard investments
wisely. But what’s the strategy when it comes to
forum selection to ensure judgments get enforced?
"In the past, foreign parties in
the US, UK and EU tended to favour their home ground in forum
selection," said Shaun Wu, partner at
Kobre & Kim. "But from an enforcement standpoint, this
is not ideal as Chinese courts don’t recognise
these foreign judgments."
Foreign parties are also concerned that local courts would
side with local parties. According to Wu, general counsel
wouldn’t agree to use local Chinese courts because
in some cases,...