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On 28 June 2020 issue of official gazette Turkey Payment and Electronic Money Association Statute is published and with that Turkey Payment and Electronic Money Association is formed. Pursuant to Article 7 of this statute, “All payment and electronic money institutions are obliged to become a member of the association within one month after obtaining an operating license. Organizations that do not fulfill this obligation by the association shall be notified to the Central Bank of the Republic of Turkey."

The articles of the Turkish Code of Obligations No.6098 (‘’TCO’’) had been postponed for workplaces lease agreements. It will be entering into force on July 1,2020 for office leases. The articles of the TCO will come into effect if not postponed again. This is known to cause considerable effects to the ongoing office lease agreements.

In order to prevent the spread of the COVID-19 epidemic, the Republic of Turkey’s Ministry of Commerce has taken some measures on how companies should organize their board meetings. Within the scope of these measures, the ordinary general meetings of joint stock and limited companies, which were previously invited to the meeting in accordance with the Turkish Commercial Code numbered 6102 (“TCC”) and the company agreement, were cancelled with a decision to be taken by the governing bodies, without waiting for the general meeting to be held.

The COVID-19 pandemic is showing the effects all over the world and as for Turkey, has taken immense measures to prevent the spread of COVID-19. Various government bodies issued decrees to prevent the spread of COVID-19. As we mentioned in our previous articles, The Republic of Turkey and the Ministry of Internal Affairs decided to temporarily close workplaces. This process, which started with an additional circular sent to all governorates on March 15, 2020, has already halted the activities of more than 200,000 businesses. In addition, on 22.03.2020, it was decided to stop all enforcement and bankruptcy proceedings with the Presidency Decision No. 2279. Later on, with the Provisional Article 2 of the Law No. 7226 which dated on 26.03.2020, it was concluded that the rental fees that were not paid between 1.3.2020-30.6.2020 will not constitute the reason for the termination of the lease contracts and evacuation of the workplaces. Problems have arisen as to whether the measures introduced in terms of lease contracts will be paid in respect of rental fees. In this article an assessment will be made on this issue.

As the coronavirus outbreak is increasing rapidly by day, more uncertainty and difficulty for enterprises and businesses are born particularly in regard to the performance of contractual obligations. Herewith, more and more businesses and organisations are now inevitably looking at their contracts to see what impact the coronavirus outbreak will have and how they can mitigate and navigate the challenges brought by the pandemic. Ultimately, businesses worldwide are considering whether they can or should rely on the force majeure clause, if there is one in the relevant contract, or the common law doctrine of frustration as legal mechanisms to manage the impact of the crisis on their business and see what possible remedies might be available at the end.

Under Turkish Law, the main purpose of each contract is that the parties' fulfilling their mutual obligations. One of the general principles of law and primary rule of contract law is the principle of pacta sunt servanda.

On March 23, 2020, The Union of Turkish Bar Association submitted a letter to the Ministry of Justice to address problems accruing in the judiciary due to the COVID-19 pandemic. Following this call, the deadlines for proceedings were temporarily suspended due to the COVID-19 pandemic by the judgment adopted on 25 March 2020. A number of regulations have been made to prevent the loss of rights in the judiciary.

Guden at a Glance

Guden is an international law firm based in Istanbul and London with years of experience in providing legal services at worldwide standards. It was found in 2012 by Ali Guden who is a dual qualified lawyer and solicitor in Turkey and a England & Wales and a CEDR accredited mediator.

Guden together with his partners have got more than 20 years experience and provide legal services particularly in arbitration & dispute resolution, corporate and commercial law , information technology law and business immigration law . W e provide legal consultation and services in various fields, particularly but not limited to foreign business persons and companies with their international disputes, incorporating a company in Turkey and regional disputes they may be facing in Turkey. Furthermore, we provide legal services to Turkish entrepreneurs and companies with their domestic and abroad investments and businesses.

We advise top international and local companies, business entities and individuals and offer our services in key legal areas such as Arbitration & Dispute Resolution, Corporate & Commercial Law, International Business Incorporation & Commercial Litigation, International Corruption & Anti-Bribery Legislation Compliance, Internet & Technology Law, UK & TR Business Immigration Law and Personal Data Protection Law Compliance.

Guden is a member of the Istanbul Bar Association, The Law Society England and Wales, The British Chamber of Commerce in Turkey (BCCT) and a founder member of Worldwide Lawyers Association (WLA) LLP, an international law association headquartered in London. WLA LLP was founded by commercial law firms in the most significant jurisdictions around the world including Switzerland, France, Italy, Portugal, United Arab Emirates, Qatar, Kingdom of Saudi Arabia, Russia, South Korea, India, Tunus, United States of America, Kuwait and United Kingdom.
For further information about Guden International Law Firm, please visit our website at www.guden.av.tr.