GTs is pleased to announce its participation in the World Universities Comparative Law Project, produced by the Allen & Overy Global Law Intelligence Unit led by Mr. Philip R. Wood QC. The paper on the Legal Rating of Mongolia in relevant areas is based on a survey produced by the Allen & Overy Global Law Intelligence Unit which was conducted by students of the National University of Mongolia. Zoljargal Dashnyam, Managing Partner of GTs Advocates participated as a member of the Practitioner Expert Panel.
The survey covers key indicators of the legal system of Mongolia which is designed to give a representation of the general approach of the jurisdiction. These indicators include the approach of the laws of Mongolia with regard to certain aspects of the Banking and Finance sector such as insolvency set-off and security interests, aspects of corporations in Mongolia such as directors’ liability and public takeovers. Furthermore, the key indicators include commercial contracts, litigation, ownership of land, employment, environmental restrictions and openness to foreign business. An overall ranking in terms of the level of legal intervention was then given for each of the key indicators and compiled to present an overview of the legal system of Mongolia.