If you want your money, arbitrate
Obtaining a foreign court judgment against a Chinese party is not much use if it can not be enforced in the PRC. Arbitration is the only realistic way of getting access to your debt
Issue: November 2009
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New York Convention
By Phil Taylor.
It’s not over yet – you’ve won the case and the local court has awarded you the damages you so desperately hoped for … but there is still one hurdle to overcome: collecting your money. And now, that hurdle is looking almost insurmountable because the assets are in China. How easy will it be to enforce your foreign judgment in a Chinese court?
A quick look at the PRC Civil Procedure Law (中华人民共和国民事诉讼法) may be encouraging, as it includes a provision governing enforcement of foreign judgments. Article 255 states, in part:
If a legally effective judgment or ruling made by a foreign court requires recognition and execution by...