Adequacy of creditor’s demands for recovery of losses against the pledged property

August 20, 2015

Pursuant to Law of the Republic of Kazakhstan No.333-V of 17 July, 2015 “On amendments and additions into the certain legal acts of the Republic of Kazakhstan pertaining increase of protection of property right, securing performance of contractual obligations and strengthening of liability for violation of them” the Civil Code, Law on registration of mortgage of immovable property and Law on Banks and Banking Activity have been amended.

Administrative barriers restricting business development (continuation)

July 3, 2014

Following up upon administrative barriers restricting business development, we offer to consider following cases from our practice.

Administrative barriers to business development

March 28, 2014

In our practice, we often face with the so-called administrative barriers, which hinder development of entrepreneurship in Kazakhstan. We believe that other practitioners can identify many of such barriers, but we are going to focus only on those that are relevant today in accordance with our practice:

Application of FIDIC templates in Kazakhstan

November 5, 2015

In its practice, Linkage & Mind has not infrequently come across applications of FIDIC templates in major construction projects in various industries. FIDIC templates were normally used where the contractor was a foreign company and/or the project was financed by international financial institutions[1]. In this context, the Kazakhstan party quite often tried to change the structure and contents of the contract in an attempt to harmonize it as much as possible with the Kazakhstan law and practices. In the end, the contract contained a great number of amendments and exceptions to the General Terms and Conditions

Assignment of rights and obligations of the Supplier under the public procurement contract

February 9, 2015

According to the general provisions of civil legislation, the persons performing obligations may be changed further to the transaction, or based on the legislative act. Thus, it is assumed that the parties of any contract are entitled to assign a claim (with or without the debtor’s consent) or transfer a debt (with the creditor’s consent).

Bankruptcy settlements

November 26, 2015

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.