CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
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.
Kinstellar's has advised Earlybird Venture Capital on its EUR 3 million seed funding of the Fintech startup Payhawk, the paperless corporate card used for simplifying expenses for businesses.
The General Directorate of Domestic Trade of the Ministry of Trade (the “General Directorate”) has issued an official statement on March 20, 2020 (“Statement”) in order to adopt certain measures to ease the process of holding general assembly meetings of joint stock and limited liability companies (together, the “Companies”) in the light of ongoing concerns about the novel coronavirus (COVID-19) outbreak across the country.
Gessel has advised Polski Bank Komorek Macierzystych on its acquisition of 70% shares in the newly created Famicord-Acibadem company. Caliskan Okkan Tokker reportedly advised PBKM as well, while Esin Attorney Partnership advised Acibadem on the transaction.
Former GKC Partners' Partner Yalin Akmenek has joined Esin Attorney Partnership.
Basak Gurbuz, the former Counsel & Director responsible for legal matters in Turkey at The Walt Disney Company, has now joined Visa as its Senior Regional Counsel for South-Eastern Europe, where she will be responsible for nine jurisdictions: Bulgaria, Croatia, Cyprus, Greece, Israel, Malta, Romania, Slovenia, and Turkey.
Contributed by Kolcuoglu Demirkan Kocakli
Gokce Sarisu Kanmaz Joins Dentons BASEAK in Istanbul
Former EY Law Associate Partner Gokce Sarisu Kanmaz has joined the Tax practice of Balcioglu Selcuk Ardiyok Keki Attorney Partnership as a Partner.
Former ELIG Partner Hakan Ozgokcen Moves to Esin Attorney Partnership
Former ELIG Gurkaynak Attorneys at Law Partner Hakan Ozgokcen has joined the Esin Attorney Partnership in Istanbul as Co-Head of Competition.
Eterna Law has advised MET Group on its agreement to assist Ukrenergo on the latter's plan to reconstruct its infrastructure in Ukraine.
Noerr has advised HKM Beteiligungs GmbH on the sale of 100% of shares in Gratka sp. z o.o.to Ringier Axel Springer Media AG, which was advised by Clifford Chance.
The GDPR, which canceled previous European data protection regulations, represents the biggest change in those regulations in 20 years. Naturally, this amendment affects the methods of obtaining and processing personal data regardless of the size and structure of the companies doing so. All institutions in the transportation sector, including land, sea, air, and rail operators, agencies, airlines, and municipalities are also subject to the GDPR’s requirements.
Gide Loyrette Nouel has advised Groupama Holding Filiales et Participations on the sale and transfer of its 10% stake in Turkish insurance company Gunes Sigorta A.S. to TVF Finansal Yatirimlar Anonim Sirketi, a subsidiary of the Turkey Wealth Fund. Baker McKenzie advised TVF on the transaction, which closed on February 14, 2020.
Conflicts in the region and the ongoing political turbulence are increasing concerns in Turkey. "This is not good," sighs Cerrahoglu Partner Sezin Dundar. "Our clients, especially foreign investment companies are closely monitoring the situation. This could affect the economy in the long run."
Paskoy has advised Novartis on the sale of one of Sandoz Turkey’s manufacturing facilities to Turkish pharmaceutical company Generica Ilac.
In May, 2019, the Agency had announced the Draft Regulation on Sales, Advertising and Promotion of Medical Devices, expected to replace the Regulation on Sales, Advertising and Promotion of Medical Devices (“Regulation”), by expressing that the Regulation required an amendment as a result of practical matters presented during the implementation of the Regulation and the current needs of the sector. The draft regulation was not enacted to this date, and instead, on January 28, 2020, the Agency announced the Draft Amendment Regulation on Sales, Advertising and Promotion of Medical Devices (“Amendment Regulation”)1 which will amend the Regulation itself. The Agency has invited comments from concerned parties until February 3, 2020.
White & Case has advised Mid Europa Partners on the merger of its portfolio company CMC Iletisim ve Cagri Merkezi Hizmetleri A.S. with Meritus Upravljanje d.o.o., part of M+ Group, in return for a 30% equity stake in the combined group.
Former Bezen & Partners Partner Ugur Sebzeci has become Chief Legal Office at Ronesans Holding.
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