Bankruptcy settlements
13 November 2015 saw the adoption of the Republic of Kazakhstan Law to
Amend Certain Legislative Acts of the Republic of Kazakhstan on
Rehabilitation and Bankruptcy (hereinafter referred to as the Law).
Specifically, the Rehabilitation and Bankruptcy Law received a new
chapter, 6-1, Settlement, which enables the debtor and creditors to make
a settlement agreement at any stage of bankruptcy proceedings in order
to discontinue bankruptcy proceedings. The effective date of the
amendments is 2 December 2015.
Bringing to criminal liability of officials of organizations for tax evasion
We propose to consider the possibility of adoption by the Supreme Court
of the Republic of Kazakhstan a Regulatory Resolution “On some issues of
application by courts the legislation on criminal liability of
officials of organizations for evasion of taxes and other obligatory
payments to the budget”.
Charter capital as security for activity of Limited Liability Partnership (LLP)
Dura lex, sed lex
Law “On amendments to certain legal acts of the Republic of Kazakhstan dedicated to dramatic improvement of conditions for entrepreneurial activity in the Republic of Kazakhstan” No 269-V ЗРК was adopted on December 29, 2014 (hereinafter the “Law”). This Law stipulates certain new provisions in several legislative acts, among such provisions is amending Article 23 (2) of Law on Limited Liability Partnerships (LLP(s)). As per the amended article 23, the minimum charter capital[1]amount of an LLP that fall under category of small-scale, is establish
Currently Linkage & Mind represents the interests of Shardarinskaya
Currently Linkage & Mind
represents the interests of Shardarinskaya hydropower plant in the Dispute
Adjudication Board (DAB) in case about extension of time for completion and
compensation recovery.
Deal closing
Linkage&Mind is proud to be among other
consultants of the quite broad international legal and tax team, leaded by Sherman&Sterling,
which supported the leading oil and gas exploration and production company of Thailand
– PTTEP – in international M&A Transaction in purchase of 100% of shares in
international Dutch company, having 80-years history operating in the oil and
gas industry and assets in several countries worldwide (transaction amount US$622
million).
Determination of the governing law of arbitration agreement
It is not infrequent for the parties to fail to specify the governing law of the arbitration agreement (clause) they include in the contract.
If the parties fail to identify the substantive law governing their arbitration agreement, then, depending on the jurisdiction, the arbitration tribunal can choose any substantive law from the following:
- The law governing the contract;
- The law of the forum;
- The law of jurisdiction best suited for resolving the dispute to be arbitrated.