News | Webinar on Germany-China Debt Collection (May 2022)
In cooperation with four law firms from China and Germany -Tian Yuan Law Firm, Dentons Beijing, YK Law Germany, and DRES. SCHACHT & KOLLEGEN, CJO GlOBAL organized the webinar ‘Germany-China Debt Collection: Enforcing Foreign Judgments & Arbitral Awards’ on 27 May 2022.
This is one in a series of kick-off webinars that have been scheduled to introduce the landscape of debt collection in China and other countries.
During the webinar, Partner of Tian Yuan Law Firm (China), Mr. Chenyang Zhang, presented the key trends in enforcing foreign judgments in China, in particular, the 2022 Conference Summary issued by China’s Supreme People’s Court, highlighting a more detailed guideline for judgment creditors as well as the impacts for collecting German judgments in China.
Managing Partner of YK Law Germany, Mr. Timo Schneiders, explained how foreign judgments and arbitral awards are enforced in Germany, and summed up the respective advantages and disadvantages of litigation, arbitration and conciliation, including the transnational execution, degree of voluntariness, fees and time.
German-US-Attorney-at-Law at DRES. SCHACHT & KOLLEGEN (Germany), Dr. Stephan Ebner, shared his insights, from the perspective of a German corporate lawyer, on the technical and economic feasibility of enforcing foreign judgments and arbitral awards in China, drawing attention to some important special enforcement regimes, such as the Chinese Mainland and Hong Kong SAR Arrangement 2008.
Partner of Dentons Beijing (China), Mr. Hualei Ding, provided a glimpse of recognition and enforcement of arbitral awards in China, cited statistics that show a pro-enforcement policy in Chinese courts, and teased out the key concerns of creditors, including required documents, the statute of limitations, time and expense.
In the Q&A session, four speakers answered the questions from the audience, covering topics like interim measures in Germany and China, and the status and possible preferential treatment of state-owned enterprises.