Asian principles for the recognition and enforcement of foreign judgments
The advent of the Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) in 2015, a market valued at US$2.6 trillion and home to over 622 million people, will no doubt increase the number and size of cross-border transactions. The increase in cross-border transactions may lead to a...
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2020
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| Online Access: | https://ink.library.smu.edu.sg/sol_research/3190 https://search.library.smu.edu.sg/discovery/fulldisplay?docid=alma99433212102601&context=L&vid=65SMU_INST:SMU_NUI&lang=en&search_scope=Everything&adaptor=Local%20Search%20Engine&tab=Everything&query=any,contains,Asian%20principles%20for%20the%20recognition%20and%20enforcement%20of%20foreign%20judgments&offset=0 |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | The advent of the Association of Southeast Asian Nations (ASEAN) Economic Community (AEC) in 2015, a market valued at US$2.6 trillion and home to over 622 million people, will no doubt increase the number and size of cross-border transactions. The increase in cross-border transactions may lead to a concomitant rise in cross-border litigation.In this regard, the recognition and enforcement of judgments made by the courts of one country in the courts of another has particular significance. The greater portability of judgments within ASEAN and its major trading partners such as Australia, China, India, Japan and South Korea will facilitate cross-border transactions by lowering transaction costs and associated legal friction among jurisdictions. In general terms, each country currently relies on its own specific recognition and enforcement rules to determine if a foreign judgment ought to be enforced within its jurisdiction.The Project involves two phases:Phase one: A mapping exercise of the rules for the recognition and enforcement of foreign judgments in ASEAN, Australia, China, India, Japan and South Korea. Phase two: An examination of the output of the mapping exercise to determine common principles which will be published as a set of Asian Principles for the Recognition and Enforcement of Foreign Judgments directed at judges and practitioners, but also legislators and policy-makers in Asia. |
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