23 July, 2021
Our team successfully settled the tax dispute in the City Court, where the court
fully shared our position and rejected the Revenue Service claim for imposing a large amount of tax liability on our client.
The decision facilitates the establishment of a unified practice for the implementation of the principle of "Alter-ego".
14 July, 2021
The Caucasus region begins the post-pandemic stage with economic growth. The draft budget change has been initiated by the Government of Georgia in the Parliament, where the growth forecast has been increased to 7.7%. Against this background, the World Bank forecasts that the Armenian economy will grow by 3.4% in 2021, compared to 2.8% in Azerbaijan. However, the economic recovery in Armenia is much faster than expected at the time of publication of the forecasts.
Changes in Bankruptcy Law
01 July, 2021
The changes related to insolvency proceedings came into force on April 1, 2021. It had been replaced by the Law of Georgia on Rehabilitation and Collective Satisfaction of Creditor's Claim. The core purpose of the new law is no longer equal protection of the interests of the creditor and the debtor. Rather, the purpose of the law had clearly defined as the collective satisfaction of creditors' claims.
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