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The Hague Judgments Convention, which sets up a comprehensive system for the recognition and enforcement of foreign judgments in civil or commercial matters, entered into force on 1 September.
The EU and Ukraine have joined the Convention, which means that Member States will recognise Ukraine’s judgements, and Ukraine will recognise judgements from Member States. Other countries are also expected to join in the future.
European Commissioner for Justice Didier Reynders said he hoped the entry into force of the Hague Judgments Convention and its application in the EU and Ukraine would motivate other countries to sign up.
“In an increasingly globalised world, implementing the law cannot be restricted by borders – the more countries join the Convention, the more effective our judgements will become,” the Commissioner said. “Citizens and companies will benefit from the treaty and it will further facilitate trade and investment between the EU and Ukraine.”
Currently, diverse laws and practices around the globe often make it challenging for EU citizens and businesses to get judgments recognised and enforced by other countries. This legal uncertainty, as well as the associated costs, may cause many to give up on pursuing their claims or decide not to engage in international dealings altogether, said a press release by the European Commission.
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