Publications

World Health Organization has characterized the outbreak of COVID-19 infection as a pandemic. More and more countries are closing borders, restricting people’s movement, banning public gatherings, and controlling trade. Such measures have already hit hard tourism, air transportation, hospitality services. Other business sectors are expected to suffer in the coming weeks and months.

The declaration of a state of emergency in the light of the COVID-19 epidemic, the following quarantine, the related restrictions, the fall in oil prices and the subsequent devaluation of tenge, together will have a serious negative impact on the financial situation of whether debtors or creditors. This can lead both to the need to protect debtors from the claims of creditors, and to protect the interests of creditors in order to avoid abuse by the debtors. Therefore, we considered it appropriate to remind readers of the main insolvency resolution regimes that are available to creditors and debtors under the Law of the Republic of Kazakhstan On Rehabilitation and Bankruptcy.

Meanwhile, on March 18, 2020, due to the threat of spread of infection, the Presidium of the Supreme court of the Russian Federation issued a decree restricting the consideration of cases and the acceptance of documents by the courts. Restrictions are imposed for the period from 19.03.2020 to 10.04.2020. It is obvious that if the coronavirus infection continuesto spread, the restrictions will be extended.

Tremendous mineral reserves, agricultural endowments, and proximity to Asia’s vast markets make Mongolia an attractive destination for medium- to long-term foreign direct investment (FDI).

This article discusses liquidation of a legal entity, namely the features and procedure for the division of the property stock remaining after settlement with creditors between the founders of the liquidated company.

Speaking of proving the execution of the works by the contractor, the first thing should be to consider the acts of transfer and acceptance of completed works (Art. 720 of the CC RF (Сivil Сode of Russian Federation). They can be issued both on the established forms KS-2 and KS-3, USD, and in the form of a free-form act of acceptance and transfer, containing the necessary data to identify the work performed.

With the Law published in the Official Gazette dated 19 December 2018 and numbered 30630, mediation was brought as a condition to file a lawsuit for commercial receivables. Within this scope, some provisions of the Turkish Commercial Code (“TCC”) and the Law on Mediation in Civil Disputes (“HUAK”) have been amended.

On 15 April 2019 Azerbaijan’s Constitutional Court (“CC”) adopted a decision on invalidation of the decision of the Supreme Court (“SC”) on refusal to recognise and enforce an arbitral award which was issued by the Korean Arbitration Council.

Mediation a method of alternative dispute resolution parties to any agreement should consider, aside from arbitration. Mediation is essentially a negotiation facilitated by a neutral third party.

Arbitration is the formal alternative to litigation resettlement. In this process, the disputing parties present their case to a neutral third party or arbitrator, who renders a decision. Arbitration is generally considered a more efficient process than court because it is quicker, less expensive, and provides greater flexibility of process and procedure.

On October 2, 2018, Milli Majlis (Parliament) of the Republic of Azerbaijan passed a Law on “Amendments to the Code of Execution of Sentences” (“Amendment Law”).