Landes

The issue in this case is whether a California judgment enforcing a foreign judgment is fully satisfied by paying off the foreign judgment in foreign currency, where there has been an intervening fall in the value of the foreign currency as against the American dollar. We hold that satisfying the foreign judgment satisfies the California judgment as well.

Background

The full history of this litigation is not discernible from the record, but the parties agree on the material facts and events. Pecaflor Construction, Inc. (Pecaflor) and Temuco Construction, Inc. (Temuco) each sued Nat Landes (Landes) and others in Canada for breach of a contract to develop and build a golf course near the City of Calgary in Alberta, Canada. The contract was between Canadian entities, was executed and to be performed in Canada, called for payment in Canadian dollars, and was to be governed by Canadian law. Pecaflor and Temuco sued over alleged nonpayment for work performed. Landes, sued as an individual, was a construction manager for the project.

Negotiations led to consent judgments entered in the Canadian court, the Court of Queen’s Bench of Alberta in the Judicial District of Calgary…