Erm, in London presumably

Last week Bruno Le Maire, the French finance minister, announced that France would set up a special English-language court to handle English-law cases for financial contracts after Britain leaves the European Union.

Most loan and derivative contracts in Europe are written in English law, but Britain’s exit from the European Union raises problems about how they would be enforced outside of Britain.

Just like happens now?

8 comments on “Erm, in London presumably

  1. This is just a question of not understanding how things work. A lot of Russian business contracts are (voluntarily) subject to English law, which is why there are lots of jobs for British lawyers in Moscow.

    A lot of European patent ownership cases are governed by German law – even when litigated in non-German courts (you call in an expert on German law who informs the court of how it works under German law).

    There’s nothing new under the sun here.

  2. Contracts are contracted under English law – setting up a fake court in Paris speaking English is not the same thing. Not even if they promise to use English law. Being part of the EU has nothing to do with it.

    The French just need to gut their entire legal system removing the code based system and replacing it with Common Law, replace all their lawyers and judges with English ones and they would then have an acceptable legal system. Morons.

    They might pick up some fund managers – Paris has a decent concentration of them. But, the City remains the only credible financial centre in the European time zone.

  3. I’d expect the jobs in Moscow for drawing up of the contracts, advising and possibly arbitration but not actually for hearings and judgements.
    Is this French court also a form of arbitration service or is the derivative contract going to say this agreement is made under English law interpreted by the Arrondissement 2eme special department of the French Justice Ministry?

    “There’s nothing new under the sun here.”

    I think you’re right : vanity.

  4. Reading the article though

    “As well as cutting corporation tax to 25pc from 33.3pc France”

    wow!

  5. ” to 25pc from 33.3pc ”

    I really wish people wouldn’t use that construction, you end up tripping over the sentence and having to read it backwards. It’s *from* A *to* B. *from* 33% *to* 25%.

  6. The contracts are written under English law so that in the event of disputes they can be taken before an English court. English law judgements are enforced by courts in other countries in accordance with bilateral treaties.

  7. “English law judgements are enforced by courts”

    So Macron & Mum have a contractual dispute with le pen & fille. They toddle off to the strand. The hon judge says pay up and French court will enforce that Judgement if the loser doesn’t pay up.

    Where does this new court come in?

Leave a Reply

Name and email are required. Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.