The risk of the enforcement of foreign money judgments in New York is critically important to global enterprises that do business, raise capital or maintain property in New York. Although New York law is liberal in recognizing foreign judgments, it provides for a number of defenses that can be raised at the recognition and enforcement stage, including defenses on the basis of lack of jurisdiction under a recent appellate decision in a case litigated and won by Davis Polk (Albaniabeg Sh.P.K v. Enel SpA).
On Thursday, May 3 at 12 pm, please join our panelists, litigation partners Antonio Perez-Marques, who argued the Albaniabeg appeal, and Frances Bivens, a leader of Davis Polk’s international arbitration practice, for a discussion of the unique issues involved in defending claims at the enforcement phase, and the impact of the Albaniabeg decision. Topics to be discussed include:
Availability of defenses to enforcement of foreign money judgments under New York law.
Potential jurisdictional defenses and impact of the First Department’s Albaniabeg decision.
Similarities and distinctions with respect to enforcement of foreign arbitral awards, and potential implications for forum selection.