CEE Legal Matters
In-depth coverage of the news and newsmakers that shape Europe's emerging markets
The major discussion points in Turkey have been drastically different – before and after the earthquake – with the upcoming elections gaining new importance, according to KP Law Managing Partner Onur Kucuk.
Only one group ever came and never went away: Lawyers.
This is because if the lawyers went, so would the games industry. (Richard A. Bartle)
Aksan has advised the Medicover Group on the acquisition of Guven Laboratuvarlari from founder Ahmet Sahin. BeyKem reportedly advised Ahmet Sahin on the deal.
Contributed by Nazali Tax & Legal.
Paksoy has advised the EBRD on its USD 20 million long-term loan for Uludag Icecek to pursue green investments in Turkey. Egemenoglu advised the borrower.
Data processing systems' convenience has led to emergence of new cybersecurity risks and methods for committing cyber-crimes, as well as a growth in such crimes, notably fraud. This is one of the unintended consequences of digitalization in the financial sector.
Turkish law firms Diri Legal and Sevi & Mergen have joined forces to form a new full-service law firm in Istanbul – Diri Sevi Mergen – helmed by Partners Nazan Diri Bal, Ali Murat Sevi, and Turhan Mergen.
Did You Know that, according to the Activity Rankings function of the CEELMDirect website, two CEE lawyers have already authored or co-authored eight thought leadership articles published on the CEE Legal Matters website this year, more than anyone else in the region?
The Law Amending the Social Security and General Health Insurance Law No. 375 and Decree-Law No. 32121 (“Law”), which is eagerly awaited by the public and directly concerns approximately 2.5 million Turkish citizens, was published in the Official Gazette No. 32121 dated 03/03/2023 and came into force.
Paksoy has advised the shareholders of SAP partner MBIS on the sale of the company to Nagarro. Herguner Bilgen Ucer reportedly advised Nagarro.
In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With a rough year drawing to a close, and market uncertainties running high, the question this time: If you had a million dollars, what would you invest it in today?
The obligation of e-commerce intermediary service providers and e-commerce service providers to obtain licenses from the Ministry of Commerce was introduced to our legal system with the “Law Amending the Law on the Regulation of Electronic Commerce" [available only in Turkish] published in the Official Gazette dated 7 July 2022, and thus has been amended by the Presidential Decree No. 6829 [available only in Turkish] published in the Official Gazette dated 23 February 2023 and numbered 32113.
Former Modanisa Head of Legal Compliance Senem Berkem Paflak has joined Goktekin Enerji as Head of Legal in Turkey.
Former Gunduz Legal Services Partner Okan Gunduz has joined Kolcuoglu Demirkan Kocakli as an Of Counsel.
Former DGPays Chief Legal Officer Merve Oney Barlas has joined TurkNet as Chief Legal and Compliance Officer.
Paksoy, working with Fieldfisher, has advised Samsun Yurt Savunma on its acquisition of an 80% stake in UK-based military defense equipment manufacturer AEI Systems. UK-based Field Law reportedly advised the sellers.
Following the EU, the UK is also trying to provide a safer environment for investors with regulations.
Commercial companies need capital to execute its business activities. Thus, paying the capital is regarded as the fundamental obligation of partners. In accordance with this, partners who do not pay their capital share on due date will be held liable accordingly to the private law in the context of TCC.
In addition to this, it is seen that this breach is sometimes interpreted as distribution of disguised profit through transfer pricing in the context of Corporate Tax Code (“CTC”).
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