Company & Commercial

December 19 2016
Thomas Kulnigg No-assignment clauses in Austrian contracts

Austria - Schoenherr Attorneys at Law

The rationale behind no-assignment clauses is that they allow the rights, claims and receivables to remain with the parties that have negotiated and executed the underlying agreement, rather than allowing a counterparty to sell or otherwise transfer its claims to an unrelated party. In order to be effective, a no-assignment clause must have been expressly negotiated and agreed and, with due consideration of all circumstances, must not grossly disadvantage the creditor.

Authors: Thomas Kulnigg, Clemens Rainer
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Nicolas Bremer Liability of managers and directors under Saudi Arabian law

Saudi Arabia - Alexander & Partner Rechtsanwälte

Management liability is a central concern for investors. However, where management liability is too restrictive, managers may become overly cautious and avoid transactions or business opportunities with even moderate risk. Consequently, a balance must be struck between encouraging management not to take unnecessarily high risks and allowing it to conduct the normal business of the company without constant concern of being held liable for acceptable risks.

Author: Nicolas Bremer
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Franco Grilli RAK International Corporate Centre: transformation of offshore jurisdiction in Ras Al Khaimah

United Arab Emirates - Fichte & Co Legal Consultancy

International business companies incorporated or proposed to be incorporated in Ras Al Khaimah must note the recent establishment of the Ras Al Khaimah International Corporate Centre which, going forward, will be the sole authority responsible for the incorporation of international business companies. While the existing advantages of incorporating an offshore company in the United Arab Emirates remain, the system is now more flexible and simplified in terms of bureaucracy.

Author: Franco Grilli
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