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Saudi courts recieve 250 foreign applications for recovery of $1 billion

Published: Updated:

Foreign applications filed to Saudi enforcement courts and chambers reached 257, to recover over 3.6 billion riyals (nearly $1 billion) in the past 12 months, according to the Business Intelligence Platform at the Saudi Ministry of Justice.

According to the ministry, the recent increase in enforced foreign rulings without the need for filing a new lawsuit, encouraged many enforcement entities in foreign countries to follow up and enforce judgments in collaboration with Saudi courts.

The ministry clarified that the rulings originated in different countries, including GCC, Arab, European (such as Switzerland, France, and UK), and East Asian (such as China and Japan) nations. In addition, they had been issued either by foreign courts, or by foreign arbitrators and arbitral tribunals.

“Saudi Arabia is party to the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, which aims at enforcing foreign awards for the contracting states,” the ministry added. “The Kingdom’s recognition of relevant applications boosts trade and investment among the nations and enhances the Saudi judiciary’s global status.”

Enforcement courts are concerned with the enforcement of judgments issued by foreign countries based on reciprocity, in compliance with international treaties and conventions. Such rulings are recognized as enforceable documents after they have fulfilled the requirements of the Enforcement Law and its implementing regulations.