The Turkish collateralization system was recently updated through the introduction of the Law No. 6750 on Movable Pledges (the “Movable Pledge Law”).
An alternative dispute resolution method is expected to be introduced in Turkey shortly through the Draft Law on Labor Courts (“Draft Law”). The purpose of the Draft Law is to bring a functional and an effective judicial procedure for labor conflicts via mandatory mediation and to replace the current regulations.
On August 15, 2016, CEE Legal Matters reported that the Esin Attorney Partnership (a member firm of Baker & McKenzie International), Hogan Lovells, and Paksoy had advised on Burgan Bank’s USD 87 million and EUR 57 million syndicated multi-tranche term loan agreement with 13 banks from 8 countries. The banks were led by HSBC, acting as coordinator, Arab Banking Corporation (B.S.C.), acting as agent, and Commerzbank Aktiengesellschaft, Filiale Luxemburg, HSBC Bank Middle East Limited, and Mashreqbank PSC acting as initial mandated lead arrangers and bookrunners.
Central and South Eastern Europe Investment Summit - Thursday, March 30, 2017, London
Paksoy has advised IMCD N.V., a distributor of speciality chemicals and food ingredients, on its acquisition of 100% of Istanbul-based Feza Kimya Ic ve Dis Ticaret Anonim Sirketi from the Bozkurt family. De Brauw Blackstone Westbroek acted as foreign counsel to IMCD on the deal, and the Yurttutan Gurel Yoruker law firm advised the Bozkurt family.
The Turunc law firm has advised Peoplise on investment it received from 500 Startups venture capital fund. The Aksan law firm advised the investors on the matter.
Turkey’s main regulation regarding advertisements, the Regulation on Commercial Advertisement and Unfair Commercial Practices (“Regulation”) was amended with another regulation published on the Official Gazette of 4 January 2017, effective immediately. Those who advertise their products and services, advertisement agencies and the media that publishes such advertisement should abide by the Regulation.
Balcioglu Selcuk Akman Keki Attorney Partnership has succesfully advised Pera Capital on its acquisition of 45% of the shares of Asset Medikal from the Teknoloji Yatirim A.S. venture capital firm and founding Asset Medikal shareholders Mehmet Tuysuz, Fusun Tuysuz, and Filiz Bayindir. The Akol Ozok Namli Attorney Partnership advised Teknoloji Yatirim and the Yasaman Law Firm advised the shareholders.
Balcioglu Selcuk Akman Keki Attorney Partnership, the Turkish arm of Dentons, has successfully advised Orix Aviation Systems Limited and one of its affiliates on the transfer of ownership of one Airbus A320-200 and two Boeing 737-800 aircrafts and their leases to what the firm describes as "a highly reputable airline in Turkey."
The Esin Attorney Partnership and Baker McKenzie have advised BRF S.A., one of the biggest poultry producers in the world, on its acquisition of a 79.48% stake in Banvit Bandırma Vitaminli Yem Sanayi A.S, a prominent Turkey-based poultry company. The controlling shareholders of Banvit were advised by the Cigdemtekin Dora Cakirca Aranci firm (CDCA).