The Turkish Law on Industrial Property (the “Law”) was published and entered into force on January 10, 2017.
Article 17 of the Turkish Constitution provides that “Everyone has … the right to protect and improve his/her corporeal and spiritual existence.” Based on this provision of the Turkish Constitution, the general principles of indemnity law will apply to any violation of personal rights. Article 49 of the Turkish Code of Obligations provides the general principle for indemnification under Turkish law and states that “Whoever damages someone else with an unlawful and culpable act is obligated to compensate that damage.”
After China, the world’s largest merchandise exporter, joined the World Trade Organization (WTO) in 2001, it agreed to a 15-year transitional period during which other members would be allowed to use the “non-market economy” method for dumping calculations. This transitional period ended on 11 December 2016, and forced certain WTO members to revise their anti-dumping strategies.
The Yegin Ciftci Attorney Partnership and Clifford Chance have advised the IFC on its USD 150 million investment in covered bonds issued by Turkey’s Garanti Bank. The five-year maturity bond is backed by a portfolio of residential mortgages and is issued as part of Garanti Bank’s EUR 5 billion covered bonds program. Mayer Brown advised Garanti on the matter.
Balcioglu Selcuk Akman Keki Attorney Partnership and Dentons have advised selling shareholders Ru-Net and Target Global and an unnamed group of non-selling shareholders on Delivery Hero AG’s USD 1.1 billion initial public offering on the Frankfurt Stock Exchange. Lead Arrangers Citi, Goldman Sachs, and Morgan Stanley were represented by Freshfields Bruckhaus Deringer. Sullivan & Cromwell, King & Spalding, and Germany's GLNS law firm represented Delivery Hero. Selling shareholders Rocket Internet and Luxor Capital were represented by Noerr and Latham & Watkins, respectively.
There’s "an enormous amount of legislation" coming in Turkey at the moment, according to Bezen & Partners Senior Partner Yesim Bezen, "both on the constitutional front and the secondary front." As an example, Bezen describes the government’s proposed creation of a sovereign wealth fund designed to facilitate "big ticket transactions," though she says, "nobody knows yet how it will affect the market and all await the secondary legislation in this respect." Bezen says there’s also “substantial new legislation in the energy sector,” and cites two recent major tenders in the renewables sector.