Former Yazici Legal Partners Gunes Yalcin and Omer Gokhan Ozmen have joined Akol Namli & Partners.

Paksoy has advised Russia's VTB Bank on Turkish law aspects of its loan of RUB 10.2 billion (approximately USD 155 million) to Ronesans Holding for, among other things, the partial financing of its Neva Towers housing development project.

Pursuant to the Turkish Data Protection Law which aims to provide data security, it has set some rights and obligations to specific subjects. Those subjects fall into three categories: data subject, data processor and data controller. Data subject expresses a real person whose data is processed; data controller is defined as the real or legal person that determines the objectives and tools of processing of the personal data, and is responsible for the establishment and management of a data recording system; data processor is defined as the real or legal entity that processes the personal data, with the authority bestowed by the data controller, and in the name of the data controller. Data Protection Law sets forth essential responsibilities for data controllers, as follows:

On 21 December 2018, Turkish Competition Authority (“TCA”) published its decision regarding the investigation conducted against TTNET A.Ş. (“TTNET”), the leading internet service provider in Turkey, which is vertically integrated with the incumbent wholesale broadband access provider, Turk Telekom. The decision comprises of TCA’s assessment as to whether TTNET had abused its dominant position, in violation of article 6 of the Law No. 4054 on Protection of Competition (“Competition Law”), via certain types of bundled sales of fixed broadband internet and pay TV services.

The concept of garden leave is not a familiar concept to Turkish labor law as the legislation does not regulate this concept explicitly. The employers however in practice might have the need to make use of this concept for various reasons. Below we first introduce the concept of garden leave in general and then examine this concept under Turkish labor law.

Protection of intellectual property rights and preventing infringements arisen against them has gained importance at the global world in recent years and both domestic and multinational companies’ awareness rate is increasing continuously regarding this matter. But this results in an increase at court workload especially regarding IP related disputes causing slowdown at legal system in countries which has a developing industry like Turkey.

Allen & Overy and Gedik & Eraksoy have advised a Coordinating Committee on the financial restructuring of Ojer Telekomunikasyon A.S. through a lender-led transaction. Clifford Chance advised OTAS on the deal. 

Baker McKenzie and the Esin Attorney Partnership, a member firm of Baker McKenzie International, have advised Turkish telecoms operator Turk Telekomunikasyon A.S. on its Rule 144A offering of USD 500 million 6.875 percent Notes due 2025. Allen & Overy advised joint bookrunners Bank of America Merrill Lynch, Citigroup, ING, MUFG and Societe Generale Corporate & Investment Banking.

Pursuant to an amendment to the Turkish Value Added Tax Law at the beginning of 2018, non-resident electronic service suppliers are now liable for Value Added Tax on services provided electronically to Turkish individuals who are not VAT taxpayers.

Turkey's Paksoy Law Firm has launched a new Information Technologies practice.

The Esin Attorney Partnership, a member firm of Baker & McKenzie International, has advised Secom Co., Ltd. in connection with the establishment of a joint venture, Emlak Girisim Danismanligi Anonim Sirketi, with the Calik Group. 

Paksoy has advised the Ulusoy family on the sale of the majority stake in Ulusoy Elektrik to Eaton Capital Unlimited Company. White & Case and GKC Partners advised Eaton Capital on the acquisition.

Paksoy has advised Mitsubishi Heavy Industries Thermal Systems on its acquisition of a stake in Form VRF Sistemleri San. ve Tic. A.S., its long-time distributor of air conditioning systems in Turkey. ADMD/Mavioglu & Alkan advised Form VRF Sistemleri on the sale.

Erdem & Erdem has promoted Mert Karamustafaoglu to Partner and to head of the firm’s Competition & Compliance team.

A. Introduction: On November 1, 2018, Personal Data Protection Board (“Board”), acting under the Personal Data Protection Authority, published its principle decision with number 2018/119 in the Official Gazette, which then corrected on November 7, 2018 (“Decision”). Board’s Decision is regarding prevention of promotional notifications, e-mail messages, text messages and calls that data subjects might receive from data controllers and data processors.

Burcu Okyay has been promoted to Partner at the Bener Law Office in Istanbul.

White & Case and GKC Partners have advised Yapi Kredi Bank, one of the largest private banks in Turkey, on its inaugural offering of USD 650 million Perpetual Fixed Rate Resettable Additional Tier 1 Notes. The global coordinators and joint bookrunners were advised by Allen & Overy and Gedik & Eraksoy.

Overall, 2018 was a more active year in terms of Foreign Corrupt Practices Act (“FCPA”) enforcement actions compared to 2017. In 2018, the Department of Justice (“DOJ”) took a total of 40 enforcement actions, and the Securities and Exchange Commission (“SEC”) took a total of 14 enforcement actions.