Limited Enforceability of JV Agreement

In general, provisions of Uzbek Civil Code governing contracts and agreements. As it is known, none of JV Agreements signed in Uzbekistan has ever been brought to Uzbek courts for resolution. As a rule, dispute resolution clause in JV Agreements signed in Uzbekistan contain foreign arbitration and foreign governing law. Even if Uzbek law is governing, foreign investors insist on a foreign arbitration. Pursuant to Uzbek Civil Code an agreement on establishment of an Uzbek legal entity must be governed by Uzbek law. Thus, it would be better all JV Agreement clauses on corporate issue subject to Uzbek law.

No experience with the existing LLC Law

In contrast to the new LLC Law adopted in Russia, Uzbek LLC Law was adopted in 2001. The...

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Limited Enforceability of JV Agreement

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