The enforcement of foreign decisions on international bankruptcy

AuthorLuiza Cristina Gavrilescu
PositionFaculty of Law, Collective of Private Law, 'Al. I. Cuza' University of Iasi, Iasi, Romania
Pages50-55
AGORA International Journal of Juridical Sciences, www.juridicalj ournal.univagora.ro
ISSN 1843-570X, E-ISSN 2067-7677
No. 1 (2013), pp. 50-55
50
THE ENFORCEMENT OF FOREIGN DECISIONS ON
INTERNATIONAL BANKRUPTCY
L. C. Gavrilescu
Luiza Cristina Gavrilescu
Faculty of Law, Collective of Private Law,
“Al. I. Cuza” University of Iasi, Iai, Romania
*Correspondence: Luiza Cristina Gavrilescu, 11th Carol I Blvd., 700506, Iasi, Romania
E-mail:luiza.gavrilescu@uaic.ro.
Abstract
In relations between European states, the conditions to obtain the exequautur are
provided by the EU Regulation no.1346/2000. The enforcement of bankruptcy judgments will
be made in accordance with Regulation no.44/2001. When executing a decision on
international bankruptcy involving a Member State and non-Member States, different rules
apply, drafted by UNCITRAL Model Law provisions in 1997. The execution is granted subject
to the rules of public policy in private international law.
Keywords: exequatur, recognition, declaration of bankruptcy decision, enforcement
proceedings, public order.
Introduction
The most important goal for each creditor in a collective procedure is to obtain
effective and full satisfaction of his claim against the debtor. In most cases, the assets
available in a particular jurisdiction will not be sufficient for complete coverage of claims.
Since participation in various bankruptcy proceedings undertaken against the debtor in
jurisdictions of several states involves significant costs, most creditors will require
enforcement of decisions rendered in the national proceedings.
Judicial character of exequatur
Since enforcement of a judgment involves the exercise of coercive force, state
sovereignty cannot be removed. Enforcement of decision opening insolvency proceedings
given by a foreign court, or enforcement of writs of execution for this procedure, requires that
the requested court to rule on an application for a declaration of enforcement orders or for
establishing conservatory measures.
Recognition of effects of the foreign insolvency procedure and obtaining exequatur
have a judicial nature. Court addressed may refuse recognition if the foreign judgment
violates public order in private international law of the requested state, or if the foreign
judgment is the result of a fraud committed in proceedings abroad. Thus, a ground for refusal
of recognition or enforcement consists in infringement of legal provisions on exclusive
jurisdiction of the forum court.
It should be noted that certain rights established by a foreign judgment can be gain
independently of exequatur or recognition procedure
1
.
Specifically, effectiveness of certain rights is possible in terms of declaratory
bankruptcy decisions
2
.The achievement of the effects of declaratory bankruptcy is possible in
1
See I. Macovei, Drept international privat, CH Beck Publishing Ho use, Bucharest, 2011, p. 277.
2
See D. Stncescu, Despre efectele internationale ale hotrârilor judectoresti, in The New Justice Review, no.
6/1960, p. 1102.

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