Dentons’ Turkey affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised on Suwen Tekstil's TRY 425.5 million IPO.
Turunc and Moroglu Arseven Advise on Wellbees' Funding Round
Turunc has advised Wellbees on its recent 212 VC-led funding round. Moroglu Arseven advised 212 VC on the deal.
Recent Significant Amendments in the Consumer Protection Law of Turkey
The Law on the Amendment to the Consumer Protection and Property Ownership Law numbered 7392 [“Amendment Law”] was published in the Official Gazette on April 1, 2022. Most changes will enter into force six months later, i.e., as of September 1, 2022. In this article, we will explain the significant amendments introduced to the Consumer Protection Law No. 6502 ["CPL"] as per the Amendment Law [available in Turkish only].
Yasemin Erden Returns to Private Practice as Turunc Partner
Former Ata Holding Legal Counsel Yasemin Erden has returned to private practice as a Partner at Turunc.
The New Merger Control Regime in Turkey Entered into Force as of May 4, 2022: Sectoral Threshold Exception Explained: Concentrations in Certain Sectors Are Now Expected To Be Way More Frequently Notifiable in Turkey
On March 4, 2022 the Turkish Competition Authority (“Authority”) published the Communiqué No. 2022/2 on the Amendment of Communiqué No. 2010/4 on the Mergers and Acquisitions Subject to the Approval of the Competition Board (the “Amendment Communiqué”). The Amendment Communiqué introduced certain new rules concerning the Turkish merger control regime, which fundamentally affect merger control notifications submitted to the Authority.
Turkey Expands Scope of the FX Payment Prohibition
The Communiqué No. 2008-32/34 on the Protection of the Value of Turkish Currency was amended by Communiqué No.2022-32/66, and accordingly, a new prohibition has been introduced regarding foreign currency transactions. Pursuant to the amendment, the contract price will have to be paid in Turkish Lira in sale of goods contracts, other than those for vehicles. The new regulation expanded the scope of the prohibition on foreign currency transactions and became effective as of its publishment in the Official Gazette, i.e., on April 19, 2022. “Goods” in contracts for the sale of goods are defined as any kind of goods that do not fall under the definition of immovable goods.
Turunc Advises Bogazici Ventures on Investment in Kavaken
Turunc has advised Bogazici Ventures on leading a USD 500,000 investment round into Kavaken. Ozbek Attorney Partnership reportedly advised Kavaken.
Consulturk Advises Dalsan on Joint Venture with Saint-Gobain in Turkey
Consulturk has advised Dalsan Alci on its joint venture with Saint-Gobain Rigips in Turkey. Gide’s Turkish affiliate Ozdirekcan Dundar Senocak reportedly advised Saint Gobain.
BASEAK Advises Layer on Investment Round
Dentons’ Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised Layer as well as the investors on Layer's latest investment round.
In Search of a New Energy Normal (Part 1)
In the past twelve months, energy prices seem to have taken a life of their own. Their continued and, at times, shocking growth has raised concerns across the region and prompted differing responses and policy changes in each country. To get a more accurate picture of recent developments, we reached out to experts in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey and asked them about the current energy prices, their impact on local economies, the drivers behind their growth, and whether any plans were in place to address the issue.
Sinem Ugur Joins Metro as Head of Competition & Compliance in Germany
Turkish lawyer Sinem Ugur has joined Metro AG in Dusseldorf as the company's Head of Competition & Compliance.
Pekin Bayar Mizrahi Hires Maral Celepyan Avsar as Partner
Norton Rose Fulbright's affiliated law firm in Turkey Pekin Bayar Mizrahi has hired former Pekin & Pekin Partner Maral Celepyan Avsar.
Metaverse: What’s Law Got To Do With It?
Metaverse is not a product or a game. It was not created by a single company. Rather, it is a worldwide 3D network where companies, information and communication tools are comprehensive and interoperable. - Prof. Scott Galloway, University of New York
On a New Adventure: Patricia Gannon Announces Platforum 9
CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.
The Buzz in Turkey: Interview with Nilay Duran of Nazali
A vibrant technological ecosystem, driving massive amounts of M&A transactions in Turkey and continuing the trend of 2021 well into this year, is the most important recent takeaway, according to Nazali M&A Partner Nilay Duran.
A Decision on the Welding Sector: How the Turkish Competition Board Uses Economic Analysis in the Presence and Absence of the Evidence of Communication among Competitor Undertakings?
The Turkish Competition Board’s (the “Board”) decision on whether undertakings that are active in the welding sector violated Article 4 of the Law No. 4054 on the Protection of Competition (“Law No. 4054”) by way of determining their prices together has been published.[1]
Okan Arican Joins BASEAK as Partner
Former BTS & Partners Partner Okan Arican has joined Dentons’ Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership as a Partner in the firm's Corporate and M&A practice.
Approval of the Amendments to the ICSID Rules
On March 21, 2022, Member States of the International Centre for Settlement of Investment Disputes (“ICSID”) approved a comprehensive set of amendments to the ICSID’s flagship rules for resolving disputes between foreign investors and their host States, after a five-year long process. This marks the fourth time the ICSID rules have been updated. Also, this is the most extensive review until now, as also explicitly acknowledged by the ICSID. The amendments will come into effect on July 1, 2022 and will apply to arbitrations commenced from that date onwards.