Amended Banking Act and Recapitalization Act seek to strengthen the regulatory and supervisory regime of Mongolian commercial banks
The Mongolian legislature has adopted the amended Banking Act on 18 Jan 2018. The amended Banking Act has become effective from 1 Apr 2018 (the “Amendments”). The Amendments introduce several important new rules such as: Requirements applicable to shareholders, board directors, CEO and related parties, Resolutionoftroubledbanks, Prohibitionofsubsidiaries. …
Prominent Business Lawyers Announce Re-Launch of Their Original Firm
Nationally and internationally known business lawyers Enkhbat Batsukh and Batjargal Gombosuren today announced the formation of their new law firm, KhanLex Partners LLP, focusing on high-stakes transactions. Batsukh and Gombosuren leave their former law firm MDS KhanLex LLP, where they were partners and chairs of Finance/Infrastructure, Corporate/Natural Resource practices, respectively, and have established KhanLex Partners…
Proposed Currency Regulation Act may lead to capital controls
On 19 Oct 2018, the Mongolian Parliament have voted in favor of considering a new Currency Regulation Act. The proposed Act has been developed by Central Bank of Mongolia and is sponsored by several MPs. If adopted, the bill will replace the existing Currency Regulation Act adopted in 1994. The 1994 Act has effectively provided […]
Corporate debt restructuring
In an article published in “Banking in Mongolia” (magazine of the Mongolian Bankers Association), KhanLex Partners discusses key features of “corporate debt restructuring” used in many jurisdictions to help both lenders and borrowers to work out feasible debt resolutions. …
Legal Environment Report of The “Belt and Road” Countries
KhanLex Partners co-authored the Mongolia chapter of the Legal Environment Report of the “Belt and Road” Countries, published by the All China Lawyers Association in 2017. …
The Law of Mongolia on Pledge of Movable and Intangible Property
On July 2, 2015, Parliament of Mongolia ratified the Law on Pledge of Movable and Intangible Property (the “Law”). The purpose of the Law is to regulate the rights and legal interests of the parties to a transaction involving the pledge of movable and intangible properties. The Law will come into force on 1 March […]
