International Court of Arbitration of the International Chamber of Commerce (‘’the ICC’’) set forwards its approach for the Alternative Dispute Resolution with new updated arbitration rules. The 2021 Rules were launched on 1st of December 2020, and will become effective and apply to cases that is filled from 1st of January 2021. Cases submitted to the ICC and registered before 1st of January 2021 will be ruled by 2017 ICC Rules, unless the parties stated otherwise. The new alterations intended to make a further efficiency, flexibility and transparency into the arbitral practices whilst anticipating the demands of both the arbitration community and arbitral tribunals.

2020 was quite a year and one all of us will not forget. For employment and labor law developments, 2020 was unlike any other. We saw rapid change and common themes emerge across the globe. One of the major themes was the introduction of government subsidies to support employers and maintain employment across many countries. We also saw an acceleration of remote and flexible working, and which posed both opportunities and challenges for employers and employees alike. There was also an increase in regulations that govern remote working.

2020 was a busy year for the legislator in relation to the Turkish Capital Markets. An amendment made in the Turkish Capital Markets Law (CML) at the beginning of 2020 introduced several elements, including a Security Agent, into Turkish law. And then the pandemic hit, making the trust factor in regard to assets even more crucial than it was before. In times of uncertainty, the Security Agent may be invited to play a greater role.

Akol Law has advised Global Ports Holding on the sale of 99.9% of its stake in Port Akdeniz to QTerminals. Kolcuoglu Demirkan Kocakli, reportedly working with Clyde & Co as the coordinator on the deal, advised QTerminals.

Fatih Isik, former Senior Associate at Erdem & Erdem, has launched a new firm in Istanbul under the name Isik & Partners.

Akol has advised Human Care HC AB, a portfolio company of Applied Value Group, on its acquisition of 100% in Kenmak Hastane Malzemeleri ve Elektrostatik Boya San Tic from its founder Kenan Kilic, who was advised by solo practitioner Caglayan Kokkilinc.

The Turkish Competition Authority (“Authority”) has recently published its Draft Communiqué on Commitments Offered During Preliminary Investigations and Investigations on Restrictive Agreements, Concerted Practices, Decisions and Abuse of Dominance (“Draft Communiqué”) which has introduced a new commitment mechanism to Turkish competition law enforcement. This mechanism makes it possible for the undertakings and trade associations to offer commitments during an ongoing preliminary investigation or a full-fledged investigation process, in order to eliminate potential competition concerns under Articles 4 and 6 of the Law No. 4054 on the Protection of Competition (“Law No. 4054”) that prohibit restrictive agreements and abuse of dominance.

On January 1, 2021, Basgul Attorneys at Law opened its doors for business in Ankara and Istanbul. 

BTS & Partners has advised Two.Zero Ventures on its investment in BluTV, a Turkish TV digital entertainment platform operating in the Middle East, North Africa, Central Europe, and Asia.

It is quite rare for the Turkish courts specialized in matters of intellectual property rights (“IP Courts”) and the Turkish Patent and Trademark Office (“TPTO”) to acknowledge the concept of bad faith in trademark registrations. In this sense, the recent Target Ventures decision of the General Court of the European Union (“EGC”) regarding bad faith in trademark registration applications is worth discussing, as this crucial decision sheds light on how bad faith should be assessed and may, therefore, also constitute a basis for Turkish IP practice in the future.

Lawyers from Clifford Chance's Istanbul office were on a multi-office team advising private equity group CVC Capital Partners on the acquisition by CVC Fund VII of the Turkish, Greek, Croatian, Montenegrin, and UAE businesses of D-Marin from Turkey's Dogus Group. Sullivan & Cromwell advised the sellers on the deal.

Gunel Rzayeva has joined VavaCars as Senior Legal Counsel in Istanbul.

Paksoy, working with lead counsel Freshfields, has advised Belgium's Solvay S.A. chemical company on the sale of its North American and European amphoteric surfactant manufacturing business, including the tolling business in Turkey, to OpenGate Capital. Morgan Lewis acted as global counsel to Open Gate with Akol providing Turkish advice. 

Akol Law has advised Turkiye Sinai Kalkinma Bankasi A.S. on its 144A/Reg S placement of USD 350 million sustainable Eurobonds with 5-year maturity. Clifford Chance reportedly advised joint bookrunners Bank ABC, BNP Paribas, Citi, Commerzbank, ING, SMBC Nikko, and Standard Chartered Bank.

Guzel Law has advised OSEM A.S. and the Insurance Association of Turkey before the Competition Board of Turkey.

Erdem Aslan has been promoted to Head of Innovation and Senior Associate at BTS Partners.

The Bilgi Law Firm has opened for business in Istanbul.

Paksoy has provided local Turkish assistance to lead counsel Hogan Lovells in advising pharmaceutical supply chain company AmerisourceBergen on the acquisition of the pharmaceutical wholesale business of Walgreens Boots Alliance in several countries, as well as select parts of its international retail pharmacy business, for approximately USD 6.5 billion.