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.

A team led by former Akol Law Partners Omer Gokhan Ozmen and Gunes Yalcin has spun off to launch OzmenYalcin in Istanbul.

“Banking is essential, banks are not…”(Bill Gates, 1994)

In Turkey, digitalization in corporate law practice has been significantly and gradually increasing in the last few years. Provision of digital signature declarations through the Central Registration System (“MERSIS”), making foreign direct investment notifications through the Electronic Incentive Practices and Foreign Capital System (“E-TUYS”) and receiving electronic notifications from the Social Security Institution (“SSI”) are some of the recent examples and developments of this effort. In this article, we will evaluate these current developments and explain significant points that should be taken into consideration for efficiency.

On April 1, Divjak Topic Bahtijarevic & Krka announced that Havas Ground Handling’s acquisition of MZLZ Ground Handling Services (as reported by CEE Legal Matters on February 22, 2022) has closed.

The phrase "between husband and wife" in Article 278/3 of the Bankruptcy and Enforcement Code No. 2004 [“BEC”] was annulled by the Constitutional Court on March 22, 2022. The annulment will take effect 9 months after its publication, on December 22, 2022.

Former White & Case associated firm in Turkey GKC Partners Partner Ceren Sen has joined the EBRD as a Principal Counsel. 

On February 25, four leading lawyers in Turkey sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea to discuss the Turkish technology sector, its recent developments, and the technology sector-related regulatory landscape.

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 (“Amendment Communiqué”). The Amendment Communiqué introduces certain new regulations concerning the Turkish merger control regime, which will fundamentally affect the notifiabiliy analysis of the transactions and the merger control notifications submitted to the Authority.

Cagdas Umut Vardar has joined Sanli & Partners as a Name Partner with the firm becoming Vardar Sanli.

With the amendment dated November 24, 2021 to the Bankruptcy and Enforcement Code No. 2004 [“BEC”] the sale of seized assets was to be conducted fully in an electronic environment. However, it was provided that the implementation of this provision would begin with the adoption of the relevant regulation.

The rise in the popularity of NFTs also raises some questions regarding copyright law. Earlier last year, an independent NFT dealer calling itself the “Global Art Museum” tokenized digitized versions of the famous artworks from many collections such as Rembrandt's “Night Watch” that has been on display at the Rijksmuseum in the Netherlands for years and other art from the Art Institute of Chicago, the Birmingham Museum and the Cleveland Museum of Art.

Nuclear Regulation Law No. 7381 [the “Law”] was published in the Official Gazette on March 8, 2022 and entered into force on the same day. The Law mainly regulates nuclear energy and ionizing radiation activities, as well as operators, facilities, devices, and other matters associated with these activities in detail.

On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Vladimir Rangeloff of Kambourov & Partners to learn what they are looking forward to the most.

Contributed by CMS.

The Turkish Competition Authority (the "Authority") published its Obilet/Biletal decision where it conditionally approved the acquisition of Biletal İç ve Dış Ticaret A.Ş.’s (“Biletal”) sole control by Obilet Bilişim Sistemleri A.Ş. (“Obilet”) and decided that the proposed transaction would not result in significant impediment of effective competition under Article 7 of Law No. 4054 on the Protection of Competition ("Law No. 4054")[1] subject to commitments proposed by the parties.

On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Silvije Cipcic-Bragadin of Cipcic-Bragadin Mesic and Associates to learn what they are looking forward to the most.

On April 5, 2022, leading lawyers from across all of CEE will be coming together for the Dealer's Choice Conference and Deals of the Years Awards Banquet. Leading up to the event, we spoke with Gabor Bebok of Pontes Budapest to learn what they are looking forward to the most.