As we discussed before, Brexit means that the United Kingdom will soon leave the European Union and, consequently, judgments rendered by U.K. courts will no longer enjoy automatic recognition and enforcement in the remaining EU member States. As a result, a creditor of a U.K. judgment will find it more difficult and costly to enforce this judgment in other EU jurisdictions.
In order for litigants to overcome this difficulty, several jurisdictions in the European Union (including Belgium, the Netherlands, Germany and Ireland) have, over the last couple of months announced plans to establish English-speaking courts which would have jurisdiction to hear international commercial disputes.
The common objective behind all those initiatives is clearly to prepare for Brexit by capturing some of the international litigation business currently located in London.
This trend continues as France just recently announced its intention to open an English-speaking chamber within the Paris Court of Appeal. As is the case in the other jurisdictions that have announced similar plans, this chamber will have jurisdiction to hear disputes with a foreign characteristics (for instance in which at least one of the parties is a foreign entity or if foreign law is applicable). Interestingly, it will also have jurisdiction to hear appeals against international arbitral awards and actions regarding the enforcement of international arbitral awards.READ MORE