Paksoy has advised the EBRD on its USD 100 million loan to Enerjisa Enerji as part of its earthquake response package.

Turunc has advised Gelecek Etki Fonu on its investment in the UK's OctaiPipe, in a round that included SuperSeed, Forward Partners, D2, Atlas Ventures, Martlet Capital, and Deeptech Labs. Goodwin Procter and Oury Clark Solicitors reportedly advised OctaiPipe.

According to the Provisional Article 1, that is added to the Turkish Code of Obligations with the 4th article of the "Law on Amendments to the Lawyers' Code and the Turkish Code of Obligations" numbered 7409, which was published in the Official Gazette on 11.06.2022 and is valid as of that day residential rent agreements regarding the rental fee to be applied in the renewed rental periods between the date of entry into force of this article and 01.07.2023 (including these dates) are valid, provided that they do not exceed twenty-five percent of the rental fee of the previous rental year. In other words, contracts containing more than a twenty-five percent increase in housing rent compared to the previous year were deemed invalid in terms of the excess amount. 

The World Economic Forum established the AI Governance Alliance, bringing together leaders from diverse sectors such as industry, government, academia and civil society to support the responsible global development and use of transparent and inclusive AI systems.

Turunc, working with Reed Smith, has advised Sphera on its acquisition of SupplyShift. Simpson Thacher & Bartlett reportedly advised Sphera parent company Blackstone. The VLP Law Group reportedly advised SupplyShift.

Kumkumoglu Ergun Cin Ozdogan has advised the Yildirim Family on its exit from Kleemann Asansor. Akbal reportedly advised the counterparty.

With the decision published in the Capital Markets Board Bulletin dated 29.12.2023 and numbered 2023/82 ["Decision"], the amounts subject to revaluation in the Capital Markets Law No. 6362 and related regulations and other regulations were determined for the year 2024.

Lexist, working with Mayer Brown, has advised AGM on its acquisition of Oppo's operations in Turkiye, including its manufacturing plant in Tuzla, Istanbul.

Turunc has advised Bogazici Ventures on its investment in Lokum Games. The round included APY Ventures and other investors. AAT Partners reportedly advised Lokum. Aksan reportedly advised APY Ventures.

Article 26 of the Industrial Property Law No. 6769 ("IPL") authorises the Turkish Patent and Trademark Office ("Office") to revoke trademarks in cases set out in the relevant article. According to IPL Article 192/1-(a), this provision was set to come into effect seven years from its publication date, i.e., 10 January 2024. Additionally, 4^th provisional article of the IPL stipulated that this authority would be enforced by the courts until that time. Thus, with the expiration of the aforementioned seven-year period, the authority for the administrative revocation of trademarks was passed from the civil courts to the Office as of 10 January 2024.

Paksoy, working with Mayer Brown, has advised Turk Ekonomi Bankasi on its USD 400 million issuance of fixed-rate resettable tier 2 notes due 2034. Allen & Overy and its Turkish affiliate Gedik & Eraksoy reportedly advised the joint bookrunners. 

The Aksan Law Firm has advised venture capital fund Founder One on its investment in ERG Controls.

Turunc has advised Bogazici Ventures on its investment in mobile gaming company Toon Metal Games.

The Aksan law firm has advised APY Ventures on its investment in Bilisim Vadisi Digiage.

The Regulation on Determination of Risk Groups and Credit Limitations ("Risk Groups Regulation") and the Regulation on Credit Operations of Banks ("Credit Operations Regulation") prepared by the Banking Regulation and Supervision Agency ("BRSA") were published in the Official Gazette dated 21.12.2023. Accordingly, the provisions regarding the determination of risk groups and calculation of credit limits in the Regulation on Credit Operations of Banks dated 1.11.2006 ("Former Regulation") were adapted to the Risk Groups Regulation and detailed regulations on the determination of risk groups were introduced. With the Regulation on Credit Transactions, the Former Regulation dated 1.11.2006 was repealed, and other provisions of the Former Regulation were reviewed and reorganised.

A new Regulation on Active Cooperation for Detecting Cartels (“Regulation”) in Turkey entered into force on 16 December 2023. The Turkish Competition Authority (“TCA”) also held a helpful webinar on the topic, highlighting the differences between the old and new regulation. In this article, we highlight two changes that we consider to be the most important: (i) applicants are now required to submit documents that contribute added value; and (ii) applications from cartel facilitators are now explicitly welcomed. Lastly, we present an overview of the conditions for full immunity and for reductions in administrative monetary fines.

Guleryuz Partners, working with the Galadari Law and Eversheds Sutherland, has advised the Tiryaki Group on its USD 112.5 million financing package from the IFC, FMO, and Proparco to finance an agro-industrial complex in Iraq’s Umm-Qasr Port. Allen & Overy, working with Confluent Law, advised the lenders.

Turunc has advised Bogazici Ventures on its investment in the Frozen Pawn Games indie gaming company.