Increase and Decrease of Capital in Joint Stock Companies Pursuant to Article 157 of the Amended Bill of the Commercial Code, capital in a joint stock company may be increased through two methods: Increasing the nominal value of shares. Issuing new shares. The required majority for increasing capital through raising the nominal value depends on...Read More

Warranties in Marine Insurance Policies Although an insurer is protected in an insurance contract by the principle of utmost good faith, proving a lack of good faith or non-disclosure of material facts is exceptionally difficult. For that reason, the most practical way to ensure the soundness of an insurance contract is to rely on warranties....Read More

Banking Facilities “Facilities” refers to formal financial assistance programs offered by banks and financial institutions to support companies that require working capital. Such facilities may be granted to natural persons or legal entities that, in connection with a particular activity or transaction, cooperate with a bank to implement a project or a specific commercial operation....Read More

International Custom Unlike domestic legal systems, where legislation plays a central role in regulating legal relationships, international law assigns a special status to custom. This is largely because states themselves participate in its formation and therefore do not view it as contrary to national independence. In many fields, the lack of treaties is compensated for...Read More

Claiming a Debt Without Written Evidence In some situations, individuals may provide money or other assets to another person without obtaining a receipt, promissory note, or any written acknowledgment. This often happens due to family relationships, friendship, or personal trust, and it can later create serious legal difficulties. For this reason, individuals are generally advised...Read More

Bankruptcy in Parent Companies Under Iranian law, the concept of bankruptcy is largely addressed in the context of the establishment and operation of economic entities, and comparatively little attention has been given to the broader economic importance of removing inefficient enterprises from the commercial environment. The current legal framework primarily focuses on the procedural aspects...Read More

Conditions for Issuance of a Certificate of Maturity Under Iranian law, persons who have not reached legal maturity may not dispose of their financial and non-financial affairs without authorization from their guardian, legal custodian, or court-appointed trustee. It is important to note that the legal concept of maturity has a meaning distinct from physical development....Read More

Company Articles of Association The Articles of Association are the principal constitutional document of joint-stock companies and serve as the identity document for commercial companies. They define the relationships among shareholders, the scope of authority of the general meetings and the board of directors, and the company’s internal governance framework. In this text, we address...Read More

Who Is an International Lawyer? Many people assume that an international lawyer is a legal professional who holds licenses to practice law in several countries, or that such a lawyer holds a single worldwide license. This common assumption is incorrect. In practice, it is not feasible for a single person to meet the bar admission...Read More

Key Considerations in Drafting the Articles of Association of a Parent Company On 19 February 2007, the Research Department of the Securities and Exchange Organization issued a model articles of association for investment companies as a proposed text, with the objective of standardization across investment companies and holding structures. Under Clause 3 of that model,...Read More