Clifford Chance
Memorandum of guidance improves enforcement prospects for money judgements between Singapore and China
3 October 2018
On 31 August 2018, the Supreme Court of Singapore and the Supreme People's Court of the People's Republic of China (PRC) signed a Memorandum of Guidance on the Recognition and Enforcement of Money Judgments in Commercial Cases (MOG). While not legally binding, this is a milestone development given that there are no treaties or other existing arrangements for reciprocal enforcement of judgments between the PRC and Singapore.
The signing of the MOG is a welcome development for companies which have dealings with entities with assets in the PRC, as well as Chinese companies which have dealings with entities with assets in Singapore against which a judgment may potentially be enforced.
