Note on the Law of the Republic of Uzbekistan “On International Commercial Arbitration”
On February 16, 2021 President of the Republic of Uzbekistan has approved the Law “On International Commercial Arbitration” (hereinafter – the “Law”). As a result, Uzbekistan became 85th country and 118th jurisdiction to enact legislation based on the Model Law of the United Nations Commission on International Trade Law(UNCITRAL) on International commercial arbitration (hereinafter – the “UNCITRAL Model Law”). The Law was approved by the UNCITRAL.
Access to international arbitration in investor-state dispute settlement (ISDS) in Uzbekistan
The influx of foreign direct investment in Uzbekistan has found a breath of fresh air after fundamental changes in the higher political structures in 2017-2018. Since that, several reforms pro-business credentials have been vigorously enforced in Uzbekistan.
Seizure of the server by the law enforcement agencies. How long can it last and what should I do in this situation?
For business entities, electronic document management is the norm in the modern world. Often, the original documents on paper are not stored carefully enough, and sometimes they are not available at the company's office at all. Unfortunately, this fact is also known to law enforcement agencies, which use this circumstance for their own purposes.
Registration of ultimate beneficial owner information
Financial Action Task Force (FATF) announced that Mongolia included in the FATF grey list considering as a favorable country for supporting money laundering and terrorism financing on 18 October, 2019.
Switzerland to become more flexible and attractive as a leading international center for arbitration
The revised provisions on International Arbitration will enter into force on 1 January 2021, unless a referendum is held against it. This was decided by the Federal Council at its meeting on August 26, 2020. The revised law on arbitration is designed to be more flexible and user-friendly. In addition, it further increases Switzerland's attractiveness as one of the world's leading places of arbitration.
International Arbitration 2020: Uzbekistan
Arbitration is becoming more and more popular in Uzbekistan as an alternative to litigation. With adoption of the Arbitration Law in 2006, the number of arbitration tribunals established in Uzbekistan reached 247 in 2020. One of the most active is a network of arbitration courts under Chamber of Commerce and Industry of Uzbekistan (CCI).
Naphtyzinum: ‘Soviet’ Trademark or Public Interest?
In Kazakhstan’s judicial practice there are growing disputes related to the early termination of legal protection for trademarks that have come into common use for the designation of goods of a certain type by virtue of Article 6.1.1 of the Law of the Republic of Kazakhstan 'On Trademarks, Service Marks and Appellations of Origin of Goods' No. 456-I, dated 26 June 1999 (hereinafter - the 'Trademark Law').
Alert. Bankruptcy in Kazakhstan
On 11 May 2020, the President of the Republic of Kazakhstan Kassym-Jomart Tokayev at the session of State Emergency Commission ordered the suspension of the initiation of bankruptcy proceedings until 1 October 2020.
The brochure provides you with the comprehensive information about the main forms of doing business in Kazakhstan, including a detailed comparison table of such forms, information on the tax structure, bankruptcy, PPP and frequently asked questions for starting and doing business in Kazakhstan.
Coronavirus and non-performance of contractual obligations in the Kyrgyz Republic
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.
On restructuring, rehabilitation and bankruptcy procedures in the light of the COVID-19 epidemic and the current economic situation
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.