October 27, 2016 Protocols and Memorandums
DIFC Courts backgrounder/enforcement guide
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Guide between the Dubai International Financial Centre Courts and King & Wood Mallesons Guidance Note on Mutual Recognition and Enforcement of Judgments |
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· What is the guide? |
It is a guide for law firms and business on the mutual recognition and enforcement of monetary judgments in China and Dubai. It has been drafted jointly by DIFC Courts and King & Wood Mallesons, a leading Chinese law firm. |
| · Which jurisdiction and law are relevant to the guide? | The enforcement guide covers commercial law across the whole of mainland China and DIFC as an independent jurisdiction of UAE. |
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· How and where will it be launched? |
It will be launched at an official signing ceremony and event on 27th October at 11.30 am at the Langham Hotel. The ceremony and event form part of the official programme of Dubai Week in China. |
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· What does the guide cover? |
The guide provides detailed explanation as to how a DIFC Courts judgement can be recognized and enforced in China, and how a Chinese People’s Republic Court judgment can be recognized and enforced in DIFC Courts. It is based on the existing 2004 Judicial Assistance Treaty between the PRC and the UAE, and each court system’s own laws. Article 24: “DIFC Courts judgment which has been granted recognition or enforcement shall have the same effect in the territory of PRC as judgments rendered by PRC Courts” Article 32: “If the claim before the PRC Court is successful, the judgment creditor will then have the same rights and benefits as a judgment rendered by PRC Courts” |
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· Why is the guide significant? |
China is Dubai’s no. 1 trading partner, and the guide is a practical implementation of Chinese government’s “One Belt and Road” initiative. It delivers certainty for businesses operating in both China and Dubai |
