Depends on the effect.
If you're referring to the effect that allows Judgment Dragon to summon itself to the field, yes, it can, and that effect won't be negated, since it activates from the hand.
If you're referring to the effect that allows Judgment Dragon to obliterate everything on the field except itself, yes, it can activate that as well, but Skill Drain will negate that effect. Despite this, you'll still have to pay the 1000 Life Points as cost.