A Guide to Recovering Money from a Russian Personal Guarantor
Finance brief - January 2013
- A Guide to Yacht Finance
- A Guide to Recovering Money from a Russian Personal Guarantor
- Marketforce and IEA 10th "The Future of Private Banking" Conference, October 2012
- General liens and financial collateral
- All monies guarantees: do they do what it says on the tin?
- Suing for book debts after assignment: who can bring proceedings?
- Potential lender liability when taking security over an asset
When examining the credit risk associated with taking a guarantee or other security from a Russian Personal Guarantor, lenders need to consider the possibility of default, how best to protect their position and what issues should be taken into account when considering enforcing foreign (non-Russian) judgments and arbitral awards against the Guarantor in Russia. The difficulties of enforcing foreign judgments in the Russian Federation are well known and are a cause of great concern to both lenders and foreign investors seeking to do business in Russia or with Russian entities or individuals.
The purpose of this guide is to provide an overview of the current law relating to the enforcement of foreign courts' judgments and arbitral awards in Russian courts and to outline some practical solutions and considerations for lenders seeking to commence enforcement proceedings in Russia.