Toghrul Guluzada

Corporate Governance System of Azerbaijan Summary  Corporate governance is the system of rules, practices and processes by which a company is directed and controlled. Corporate governance involves balancing the interests of a company's stakeholders, such as shareholders, senior management executives, customers, suppliers, government.  How the corporate governance system in Azerbaijan is directed and controlled ? What are advantages and disadvantages of the corporate governance systems ? Facets in Corporate Governance system of Azerbaijan It is well known that there are two main set of rules on the supervision of corporate governance; one-tier boards and two-tier boards. In the one-tier board system not only the management of companies, but its control (supervision) of directors of companies lies in the hands of a management, it is an additional task for the board itself, by contrast, in the two-tier system the control (supervision) of directors of companies ...

Summary The principle of party autonomy plays a significant role in arbitration. By applying this principle parties decide on provisions of a contract, applicable law and the other. But, can the principle of party autonomy be limited? Can the scope of the principle be extended to arbitral tribunal when parties make no choice of law? Does arbitral tribunal have a power to decide on an applicable law? These issues are very crucial in arbitration. Principle of Party Autonomy By applying this principle parties agree on the provisions of a contract; rights and obligations of parties, performance form of the contract etc. It is not always possible to predict the right intention of parties. Therefore, arbitral tribunal, most of the time, refer to the provisions of applicable law chosen by parties. According to this principle, the parties are free to make their own contract and choose an applicable law.      However, in the absent of choice by parties, does a...