Increased globalisation and international trade have resulted in the increasingly common situation where a party succeeds in obtaining a judgment in one country but is compelled to enforce it in another country where the defendant’s assets are located.
Africa is a good example of the latter – the scramble by foreign investors for its assets and investment opportunities has left in its wake the inevitable commercial disputes that follow.
Against this background courts throughout Africa are increasingly seized with applications to recognize and enforce foreign judgments. African courts, moreover, are increasingly seized with applications to enforce foreign arbitral awards as more and more African states adopt the UNCITRAL Model Law on international arbitration and accede to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, to which 38 African states are party.
The relative ease and speed of enforcement of foreign arbitral awards, facilitated in many instances by the New York Convention, has made international arbitration the preferred method of dispute resolution in cross-border business.
Although many of the requirements for the enforcement of foreign judgments and arbitral awards are common to many African countries, each country has its own unique practices, procedures and pitfalls in the field.
It is with great pleasure that we bring you the updated LEX Africa Guide to the Enforcement of Foreign Money Judgments and Arbitral Awards in Africa which we trust you will find informative and practical.
This is a project of LEX Africa’s dispute resolution team and the guide has been edited by Roger Wakefield of South African member Werksmans.
Click below to download the guide