On Friday 16 July, the European Commission adopted a proposal for the EU’s accession to the 2019 Hague Convention on the recognition and enforcement of foreign judgments in civil and commercial matters (see EUROPE 12511/32).
“Having one’s rights enforced in a country outside of the EU can be very cumbersome, both for private persons and for businesses. The EU joining the Hague Judgment Convention would improve legal certainty and save citizens and companies time and money”, explained EU Commissioner for Justice, Didier Reynders, in a statement.
The European Commission estimates that the direct benefits for EU citizens and businesses when attempting to have an EU judgment recognised and enforced in the selected third countries are estimated to be between EUR 1.1 and 2.6 million by 2026 if the EU accedes to this Convention. The average length of proceedings is also expected to decrease by three to six months.
The text also provides that, if the EU joins the Convention, it should make a declaration excluding from the scope of application of the Convention any judgments relating to leases of commercial buildings situated in the EU, which fall within the exclusive competence of the Member States.
The European Commission’s proposal, which is to be adopted by the Council of the EU with the consent of the European Parliament, can be found at: https://bit.ly/3em8Ipi (Original version in French by Marion Fontana)