The successful litigant in a litigation or arbitration usually expects the judgment or award debtor to pay the monetary damages specified in the judgment or award promptly. Hopefully, that ends up being the case and the matter is resolved satisfactorily. But, sometimes, the debtor does not do so, and the litigant is forced to embark on further litigation in the courts of those jurisdictions where the debtor’s assets are located to satisfy the judgment or the award. This update discusses the scenario when a party obtains an award in its favor from an arbitral tribunal that is seated outside the United States and is assessing whether it may be able to enforce that foreign (non-US) award in the United States.
June 18, 2024
