“Judicial Convention” as a New Stage in the Recognition and Enforcement of Foreign Judgments

Abstract

In May 2018, at the 4th and final meeting of the Special Commission of the Hague Conference on Private International Law, the draft Convention on the Recognition and Enforcement of Foreign Judgments in Civil and Commercial Matters that had been developed since 1992 was represented. It is expected that after the Diplomatic Session that will be held in the mid-2019 the draft will be finalized and the Convention will be adopted and opened for signature.In this regard, the article attempts to analyze the main provisions of the draft Convention and assess the appropriateness for the Russian Federation to access it, taking into account the fact that Russia has a limited number of international treaties permitting recognition and enforcement of foreign judgments in Russia and decisions of Russian courts abroad. Based on the results of the analysis, the author concludes that the adoption of this Convention will provide for a simple and effective basis for the recognition and enforcement of foreign judgments eligible for States with different legal, social and economic circumstances. This, in turn, will increase the practical value of court decisions ensuring the most comprehensive protection of the rights and interests of the party in whose favour the decision has been made and, as a consequence, will contribute to the attractiveness of this method of dispute resolution for parties involved in cross-border private law relations.However, the mixed attitudes of the EU and the USA to the Draft Convention raises the question of their accession to the future Convention and may significantly reduce the impact of the adoption of the document under consideration.