The Union Supreme Court and the Supreme Court of Singapore signed the Memorandum of Guidance as to Enforcement of Money Judgments yesterday.
The signing ceremony was held at the meeting hall of the Union Supreme Court in Nay Pyi Taw. Chief Justice U Htun Htun Oo and The Hon Sundaresh Menon, Singapore Supreme Court’s Chief Justice, signed and exchanged the memorandum.
U Htun Htun Oo first delivered a speech where he said while the memorandum has no binding legal effect, it must be acknowledged as an important step forward while there exist no memoranda of understanding concerning the enforcement of money judgments between the two countries.
He said the Code of Civil Procedure shows possible steps for Myanmar to enforce foreign judgments and this MoG explains the scenarios, rules and regulations for either country to enforce judgments from the other. He said there need to be practical discussions to implement the content of the MoG.
This was followed by a speech from The Hon Sundaresh Menon, after which the two chief justices signed and exchanged the MoG.
Myanmar and Singapore currently have numerous investments between them and show a promise of increased economic cooperation in the future.
The recently signed MoG will assist in enforcing foreign judgments of a financial nature. This will help in safeguarding the interests of investors from both nations and create better business opportunities for Myanmar businesses as well.
Present at the signing ceremony were Union Ministers, the Union Attorney-General, Justices from the Union Supreme Court, chairpersons and secretaries from Hluttaw committees, Judges and officials from Singapore’s Supreme Court, the Singaporean Ambassador to Myanmar and embassy staff, affiliated international organizations, and the permanent secretaries, directors-general, deputy directors-general, directors and officials of the office of the Chief Justice, Office of the Union Supreme Court and Office of the Union Judiciary Supervision.
MNA
Photo: MNA
(Translated by Zaw Htet Oo)
Ref : The Global New Light of Myanmar