From: Ten Typical Enforcement Cases for Recognition and Enforcement of Extraterritorial Arbitral Awards and Court Judgments

[Information of the parties involved]

Applicant: AA Private Limited.

Respondant: BB Investment Holding Company.

Basic Information of the Case

AA Private Limited has applied for arbitration of the dispute over the purchase and sale contract of BB Investment Holding Company, and the arbitration will be conducted at the Singapore International Arbitration Center. After the award came into effect, BB Investment Holding Company failed to fulfill its obligations in accordance with the arbitration award. AA Private Co., Ltd. applied to the Fourth Intermediate people's court of Beijing for recognition and enforcement.

In the process of execution, the Fourth Intermediate court of Beijing issued an execution notice and a property reporting order to the BB Investment Holding Company, the subject of execution. We searched for bank accounts, vehicles, equity, securities, real estate and other assets under the name of BB Investment Holding Company through an online query platform. We lawfully transferred over 500000 yuan of bank deposits under the name of BB Investment Holding Company and returned them to the applicant for execution.

In addition, the Fourth Intermediate people's court of Beijing carried out enforcement search through on-site investigation, investigation in relevant administrative departments and other means, but found no other property available for enforcement under the name of the person to be enforced. After fully informing the applicant of the court's execution process and results, AA Private Limited agrees to terminate this execution procedure.

Enforcement Results

In this case, because the person subjected to execution has no property available for execution, the creditor's rights of the applicant for execution could not be fully paid off. With the consent of the applicant for execution, the Fourth Intermediate people's court of Beijing ruled to terminate the execution procedure of this case according to law.

Typical significance

Although this case cannot be substantiated due to insufficient property available for execution under the name of the person being executed. The applicant is now fully compensated, but he highly recognizes and praises the enforcement measures taken by the Fourth Intermediate people's court in the process of enforcement and the due diligence of the enforcement judge, and presents a banner to the court. In the process of execution, the court timely informed the applicant of the inquiry and control of the property under the name of the person to be executed, so that the applicant could fully understand the whole process of handling the case. The execution of the case reflected the standardization, efficiency, fairness and transparency of the Fourth Intermediate people's court in handling international judicial assistance cases.

Expert comments

The success of this case fully demonstrates that the process of execution and the results of execution are equally important; In international judicial assistance cases, the openness, transparency, and efficiency of procedures are key to the recognition of execution work.

In this case, the Beijing Fourth Intermediate People's Court adopted advanced technological means such as a modern, information-based, and integrated investigation and control system to investigate and control the property status under the name of the applicant for execution; At the same time, encourage the parties involved to actively participate in the execution work, respect and absorb the reasonable opinions of the parties involved; The timely, efficient, fair, and transparent case handling process showcases the international image of Chinese courts as fair, efficient, and authoritative judicial authorities.