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Law No. 7445 on the Amendment of the Enforcement and Bankruptcy Law and Certain Laws (“Law“), also known as the 7th Judicial Package, has been published in the Official Gazette numbered 32154 on April 5, 2023.

The 12th Civil Chamber of the Court of Cassation ruled with its decision numbered 2022/9954 (E. 2022/6460) and dated October 6, 2022 (the “Decision”) that the prohibition on determining a contract value in foreign currency or indexed to foreign currency which introduced by the Decree No. 32 on the Protection of the Value of Turkish Currency ("Decree No. 32") concerns public order and must be taken into account by the judge ex officio (automatically) even if it is not raised by the parties during the proceedings.

With the recent amendments to the Notary Public Law No. 1512 ("Law"), the immovable property sales agreements, which could only be executed before the land registries previously, can now be executed before the Turkish notaries as of January 1, 2023. In other words, immovable property sales agreements can now be concluded both before the land registries and the notaries as of such date.

Communiqué on the Default Interest Rate to be applied for Late Payments and the Minimum Expense Amount that can be claimed for the Collection Costs of Receivables in the Supply of Goods and Services (the “Communiqué”) was published in the Official Gazette dated January 2, 2023 numbered 32061 and entered into force on January 1, 2023.

Law on the Amendment of the Law on the Regulation of Tobacco, Tobacco Products and Alcohol Market and Certain Laws No. 7423 (the “Omnibus Bill”), which was submitted to the Grand National Assembly of Turkey on October 18, 2022 was legalized and published in the Official Gazette dated December 10, 2022 and numbered 32039. Some of the amendments in the Omnibus Bill entered into force on the date of its publication; while other amendments will enter into force on January 1, 2024.

Investigations of the Turkish Competition Authority against certain undertakings operating in the fast-moving consumer goods (FMCG) industry as producers, suppliers, and retailers to determine whether Article 4 of the Law on the Protection of Competition has been violated are ongoing and currently, verbal self-defense processes are being submitted.

Pursuant to Article 350 of the Turkish Code of Obligations; the lessor, his/her spouse, his/her descendants or ascendants or persons who are legally dependent on the lessor; should have a need to use the leased property for residency or workplace purposes for lessor to request the eviction of the property due to personal needs.

Discussions on the Law on the Amendment to the Press Law and Some Laws" which is known as the Law on Combating Disinformation among the public and which includes regulations and amendments about social media and internet news sites (“Law Amendment”), was published in the Official Gazette dated 18.10.2022 and numbered 31987.

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Moral, Kinikoglu, Pamukkale, Kokenek at a Glance

Managing Partner: Vefa Reşat Moral

Partners: Efe Kınıkoğlu, Serkan Pamukkale, Sertaç Kökenek, Sezai Moral, Aslı Pamukkale, Serra Haviyo, Özgür Güner, Dilek Kökenek

Team: 77 (Legal and non legal)

Languages: English, Turkish

Firm Overview:

Founded in 1968, Moral | Kınıkoğlu | Pamukkale | Kökenek, marching on through the legal market under a structural transformation since 2007, by gathering distinguished and experienced Partners, and today stands as one of the leading and top-tier law firms in Turkey with 18 practice areas. The firm has accomplished monumental achievements with its professionalism and strong work ethics. The team of 55+ associates from reputable universities with extensive legal experience, blends dynamism and business accumen. This top-notch team with a multi perspective approach provides comprehensive legal services to national and international market leaders.

Practice Areas and Offices

M&A / PE | Corporate | Banking and Finance | Capital Markets | Dispute Resolution | Compliance & Investigations | Competition | Real Estate and Construction | Customs Law | Business Law and Contract Management | Employment | Immigration | Tax | IT & Communications – Data Privacy | IP | ESG | Energy | Art Law

Firm's Website: https://moral.av.tr/en