The authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, has been given from the Ministry of Economy to the Ministry of Trade (“Ministry”). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.

The reasoned decision¹ of the Turkish Competition Board (the “Board”) concerning the  preliminary investigation initiated by the Turkish Competition Authority (the “Authority”) against four movie producers and their professional union has been published on the official web-site of the Authority on March 8, 2019 (the “Reasoned Decision”).

Paksoy has advised Ziraat Bank, the largest state-owned bank in Turkey, on a syndicated loan in the amount of USD 1.425 billion it has received from forty banks in twenty-two countries. The Esin Attorney Partnership and Baker McKenzie advised the lenders on the deal.

Gide and its Turkish associated firm Ozdirekcan Dundar Senocak have advised Ak Gida Sanayi ve Ticaret A.S., the Turkish affiliate of Lactalis, on the acquisition of two dairy production facilities in Izmir from the Gurler Group.

Turunc, working with global counsel Travers Smith, has advised IT company Micro Focus on the USD 2.535 billion sale of SUSE, its open-source software business, to Swedish private equity group EQT Partners. Latham & Watkins and Milbank, Tweed, Hadley & McCloy advised the buyers on the acquisition.

Join  the 2nd UK Turkish Overseas Investment Forum, 26 Apr 2019 - London, UK

Join the 7th Invest in Turkey Forum  - 25th  April, Woldorf Hitlon Hotel,  London.

Turkish lawyer Burcu Okyay has been appointed Partner at the Bener Law Office in Istanbul.

Balcooglu Selcuk Akman Keki Attorney Partnership and Dentons have advised Koc Holding A.S., Turkey's largest holding company, on its issuance of USD 750 million 6.500% Notes due 2025. Gedik & Eraksoy and Allen & Overy advised the joint bookrunners Bank of America Merrill Lynch, Citigroup, and J.P. Morgan.

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.