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Michael M Wiseman and Elizabeth T Davy of Sullivan & Cromwell explore the increasingly hostile US enforcement climate for financial institutions

Nonye Uwazie The recognition and enforcement of judgments rendered by courts of other jurisdictions is an important tool of international trade integration. International trade participants are of the view that such domestic recognition and enforcement of foreign judgments provides oil in the wheels of trade. Recognition is a precondition for enforcement of foreign judgments with the criteria for such recognition stipulated in domestic legislation. In Nigeria, the requirement for recognition and enforcement of foreign judgments is contained in the Foreign Judgments (Reciprocal Enforcement) Act, Cap 152, Laws of the Federation of Nigeria 1990. Parties wishing to enforce foreign judgments in Nigeria must, as a first step, apply to have the judgment registered in the appropriate court. The time limit for such registration recently came up for resolution before the Nigerian Supreme Court in VAB Petroleum Inc v Mr. Mike Momah (2013) LPELR-SC. 99/2004.

Two recent European judgments cast doubt on whether one-way jurisdiction clauses are a risk worth taking. Here are the practical considerations

When it comes to emerging market risk disclosures, how much is too much?

Five years after the financial crisis, the US securitisation market – especially for residential mortgages – has yet to recover. An incorrect diagnosis is partly to blame

The investment banking head of Africa’s most active lender explains what’s changing the continent’s syndicated loan dynamics

Unlike the US, Mexico’s financial reforms made good use of this

The offshore renminbi (RMB) bond market might be rapidly expanding, but international investors and issuers lack incentives to participate until the market adheres to international best practice on deal structures and credit ratings.

A recent Bank of England report set out the case for clearinghouses to have a well-mapped plan for how they will assign losses to members, in the event of a default that burns through the company's emergency funds. Central counterparties (CCPs) must closely consider their options when designing these rules, each of which has its own unique considerations.

Given Spain can support losses from this this, few banks need capital reserves