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Nonye Uwazie The recognition and enforcement of judgments rendered by courts of other jurisdictions is an important tool of international trade integration. International trade participants are of the view that such domestic recognition and enforcement of foreign judgments provides oil in the wheels of trade. Recognition is a precondition for enforcement of foreign judgments with the criteria for such recognition stipulated in domestic legislation. In Nigeria, the requirement for recognition and enforcement of foreign judgments is contained in the Foreign Judgments (Reciprocal Enforcement) Act, Cap 152, Laws of the Federation of Nigeria 1990. Parties wishing to enforce foreign judgments in Nigeria must, as a first step, apply to have the judgment registered in the appropriate court. The time limit for such registration recently came up for resolution before the Nigerian Supreme Court in VAB Petroleum Inc v Mr. Mike Momah (2013) LPELR-SC. 99/2004.

Indonesia's Investment Coordination Board (BKPM) recently issued a new Regulation (Reg 5 2013) concerning Guidelines and Procedures for Licenses and Non-Licenses for Capital Investment, dated April 8 2013. The regulation presents new items that may impact new investment for establishing a foreign investment company as well as existing foreign investment companies (known as PMA companies:basically Indonesian incorporated companies that have one or more foreign direct shareholders).

Daniel Futej Cyril Hric For the past several weeks, the European banking sector has been facing a relatively specific situation where the owners of accounts in certain banks in Cyprus had to forfeit their deposits in a manner usually seen when a bank goes bankrupt. On the other hand, one of the effective tools used by EU member states in combating tax fraud and evasion is a restriction on cash payments. This means that parties are forced to settle their monetary obligations by means of bank transfer. Slovakia also adopted a law late last year expressly prohibiting cash payments exceeding a specified amount – Act No 394/2012 on restrictions on cash payments, which came into force on January 1 2013. The Act considers cash payments to be the handing over of notes or coins, in cash, in the euro or other currency, and the acceptance of that cash by the recipient. The limit on cash payments made between natural persons who are not entrepreneurs is €15,000 ($19,600). If the parties are legal persons or natural person entrepreneurs, however, the limit on cash payments between such parties is €5,000. If a cash payment is split into several instalments, where all the instalments are associated with one and the same legal arrangement, the instalments will be taken as a whole for the determination of the value of the cash payment.

Debt capital markets and project finance underpin Africa’s rise as a global investment hub. Here’s how to navigate the sectors’ unique challenges

The EU needs a uniform conflict rule for the enforceability of assignments against third parties. Here are the options

Mexico’s regulatory overhaul is expected to touch every aspect of its financial services system. The reforms aim to benefit banks, and could be implemented in weeks

Securitisation is the perfect tool to support Chinese banks’ continuing growth. But a more integrated banking and capital markets system is needed first

Contrary to popular legal opinion, trust structures are recognised under German law. And they are a powerful tool for lenders to utilise

Two recent European judgments cast doubt on whether one-way jurisdiction clauses are a risk worth taking. Here are the practical considerations

Corporate lawyers looking for the year’s hottest M&A sector should take a close look at themselves. Law firms are facing a new merger reality