Enforceability of English judgments in Denmark Sample Clauses

Enforceability of English judgments in Denmark. The UK left the EU on 31 January 2020 ("Brexit") and the transitional period agreed in the withdrawal agreement during which EU law continued to apply in the UK, expired on 31 December 2020. The Brussels I Regulation (Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (recast)), i.e. the main EU legal instrument governing jurisdiction and the enforcement of judgments within the EU, is no longer applicable to legal proceedings commenced in the UK after 31 December 2020 or to judgments issued in such proceedings. As no new reciprocal agreement on jurisdiction and enforcement of judgments has been agreed between the UK and the EU, a judgment entered against an Issuer or the Guarantor in an English court would not be recognised or enforceable in Denmark without a review of the merits. However, in any such proceedings taken in the Danish courts, the Danish courts may give consideration to a final and conclusive judgment obtained in the English courts against an Issuer or the Guarantor. Accordingly, in a default scenario, there may be additional costs and/or delays in the enforcement of Noteholders' rights in Denmark against the relevant Issuer and the Guarantor and their assets, and as the Danish courts do not recognise or enforce an English court judgment, this would limit the ability of Noteholders to recover amounts awarded by the English courts.
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Related to Enforceability of English judgments in Denmark

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