Colombia - Enforcement of Money Judgments
Originally from Enforcement of Money Judgments
I. PRESENT ATTITUDE TOWARD ENFORCEMENT OF FOREIGN MONEY JUDGMENTS
A. Describe the receptiveness of your government (including courts) toward enforcement of foreign money judgments.
Colombia has always been a country of a significant positive attitude vis a vis foreign business. In spite of being a nation in constant development, the global trend aiming for a globalization of all economical activities has inevitably impacted this country, with special relevance during the last decades. As such, the recognition of the validity and the enforcement of foreign judgments have become one of the key issues associated with international legal collaboration and, accordingly, it is possible to state that, as a general rule and under the terms set forth throughout this chapter, our legal and judicial systems are fully receptive towards the goal of enforcing foreign money judgments.
For purposes hereunder, a “foreign money judgment” means any judgment of a foreign country granting or denying recovery of a sum of money, excluding a judgment for taxes or fines, a judgment in family matters (i.e., alimony, inheritance, and child support), and an arbitration award.
Although the influence of Anglo-Saxon type of legal systems has been important over the last decades, Colombia is a civil law type of country, which, as many other Latin-American countries, has been influenced by the continental European legal systems. Under this scenario, a substantial portion of the legal activities are ruled by written laws, being of particular importance the various codes. For the purposes of this Chapter, the General Procedural Code (hereinafter “the Code”), is of great importance since same provides the majority of the rules governing enforcement of foreign money judgments. Under this context, while the foreign judgment complies with the requirements set forth in the law and it is further “acknowledged” as valid in Colombia, under the terms referred to later, it can be validly enforced in any part of the country.