9 Avr ’21

Foreign Jurisdiction Agreement

The applicability of unilateral jurisdiction clauses has been maintained in many legal systems. However, their validity has been questioned in a number of European courts in the most recent judgments of the Court. There is nothing to prevent you from inserting a clause that simultaneously confers exclusive jurisdiction on two states, which may be preferred if the contracting parties reside in different jurisdictions and it is not possible to reach an agreement on the preferred national jurisdiction. One way to do so would be to explain that if Part A attacks Part B, Court A is competent and If Part B has sued Part A, Court B should have jurisdiction. If this is the case, it is important to ensure clarity during development, so that the intent is clear. When economists John Maynard Keynes of the United Kingdom and Harry Dexter White of the United States wrote this article in the IMF agreement, they wanted to put in place a kind of bailout for troubled countries, similar to what became of Chapter 11 (the U.S. corporate rescue regime). The French, German and Luxembourg courts have supported this ability of states to unilaterally reprogram and write off their debts. The courts of the United States, the United Kingdom and Belgium are not. The American common law group.

Most of them were originally in English. In practice, New York is the main international jurisdiction, which is widely used internationally. This point was the subject of extensive debate and research in the early 1970s, when the euro markets were introduced. A number of Latin American countries have argued that their syndicated bank loans from foreign banks should be subject to their own rights and contain a compromise clause. They said they could not constitutionally submit to foreign laws and tribunals, which is known as the Calvo Doctrine. With very few exceptions, foreign banks refused to lend on this basis and, ultimately, English or New York laws and tribunals agreed, with very few exceptions. The same conversation took place in the author`s experience at the time in lending in Quebec, Turkey and elsewhere, with the same result. The differences between ideologies do not mean that some are good and the others bad.

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