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The registration of businesses in Albania is governed by the Law on the National Registration Centre. In light of Albania's obligation to harmonise its laws with EU law, the Ministry of Economic Development, Trade and Undertaking has issued for comment draft changes to this law.
In recent years liquidated damages have strayed beyond the typical delay and performance damages; they also appear in provisions that on their face do not appear to be liquidated damages provisions at all. As a number of cases illustrate, this expansion of liquidated damages clauses beyond traditional delay and performance failures raises issues as to whether these clauses are enforceable.
For more information, please contact:
Tom Gillett, Manager
International Law Office
New Hibernia House
London, SE1 9AG
Tel: +44 20 7234 0606
Fax: +44 20 7234 0808