RECOGNITION AND ENFORCEMENT ACCORDING TO THE BRUSSELS I BIS REGULATION WITH SPECIAL REFERENCE TO THE ABOLITION OF EXEQUATUR

Since the establishment of the European Economic Community, mutual recognition and enforcement of judgments has been perceived as one of the cornerstones of the internal market. The main motive behind that perception is a long lasting dedication for the optimally tuned and fully functioning internal market. Therefore, early on, there was a necessity to establish a set of rules on recognition and enforcement primarily impelled by economic goals. This was done in 1968 by introducing the Convention on jurisdiction and recognition and enforcement of judgments in civil and commercial matters (hereinafter: the Brussels Convention) which was the initial framework of recognition and enforcement relying on the exequatur. The next step was the Regulation (EC) No. 44/2001 of 22 December 2000 on jurisdiction and recognition and enforcement of judgments in civil and commercial Matters (hereinafter: the Brussels I Regulation) which led towards a more simplified process of recognition and enforcement. However, the current Regulation (EU) No. 1215/2012 of 12 December 2012 on jurisdiction and recognition and enforcement of judgments in civil and commercial matters (hereinafter: the Brussels I bis Regulation) brought a much needed leap the abolition of exequatur