On May 30, 2017, the new Companies Act, 2017, was enacted in Pakistan with a view to making the company law more transparent and to simplify doing business in Pakistan. Prior to that The Securities Act, 2015, was promulgated to bring Pakistan’s securities law in line with international standards.
K&A partner Mansoor H. Khan reviews the salient features of these laws in his article which has appeared in the September 2017 issue of International Financial Law Review (IFLR) entitled “Up to speed”. Click here to review the full text of this article.
Pakistan ratified the New York Convention of 1958 on July 14, 2005, which was implemented till 2011 through ad hoc presidential decrees or ordinances when on July 15, 2011 a permanent legislation was introduced: the Recognition and Enforcement (Arbitration Agreements and Foreign Arbitral Awards) Act, 2011. The local courts are however extremely reluctant to enforce foreign arbitral awards in Pakistan. The seriousness of this situation can be gauged from the fact that 12 years after the enforcement in Pakistan of the New York Convention of 1958 there is only one reported judgment of a Pakistani court enforcing a foreign arbitral award.
Mansoor H. Khan of Khan & Associates examines how Pakistani courts have dealt with international dispute resolution in his article which appeared in International Financial Law Review’s (IFLR) Dispute Resolution Guide 2015. Click here to review the full text of this article.
Chambers & Partners uses its “knowledge of the world’s best lawyers to select law firms in each jurisdiction to write the ‘Law & Practice’ sections” for the Litigation volume of Chambers Legal Practice Guide. K&A’s partner Mansoor Khan was invited by Chambers & Partners to write the “Law & Practice” section for the 2014-15 edition of its Litigation volume.