You’ve won a case and achieved a favourable judgment or award. Success at last! Until it isn’t honoured. Whether due to business, political or other factors, many parties and sovereigns resist paying monies owed on judgments and awards obtained in commercial and investment disputes.
In a webinar for the Association of Corporate Counsel (ACC) Australia, Omni Bridgeway Investment Manager Leanne Meyer chatted with Head of Enforcement for Asia, Marjolein van den Bosch-Broeren, about the role a dispute funder plays in enforcing judgments and awards from unwilling or evasive debtors and steps in-house counsel can take to safeguard collectability. Here we share some of Marjolein’s key insights.
Getting a favourable judgment or award is not the same as getting paid
Winning a case can be the first step in a long, difficult battle to recover the proceeds from a counterparty. Clients often come to us with claims against counterparties that are expected to evade payment when the clients have obtained a judgment or award against them. Other clients come to us with a judgment or award against evasive counterparties in jurisdictions where enforcement is challenging or after trying to enforce it themselves for many years with little success. We help them recover what is rightfully theirs, having successfully enforced against difficult debtors in over one hundred jurisdictions.
