Turunc has announced the launch of the firm's UP Tel Aviv acceleration program together with Bogazici Ventures, GN-Z11, and Reichman University, in collaboration with Amazon Web Services.
SEC Increases Scrutiny on Cryptocurrency Companies
As investors continue to seek a safe haven after the collapse of crypto exchanges, cryptocurrency companies have begun to resort to new ways to restore confidence. The most important issue in the market is whether cryptocurrency companies have enough assets to cover their customers' funds.
Burcu Karaaslan Altan Makes Assistant General Counsel at McKinsey & Company
McKinsey & Company has appointed Burcu Karaaslan Altan to Assistant General Counsel in Turkey.
Corporate Governance in Turkey
Contributed by Guleryuz & Partners.
Clifford Chance and Ciftci Advise Arcelik on New Standalone Home Appliance Business JV with Whirlpool
Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised Arcelik on the establishment of a joint venture between its Ardutch subsidiary and Whirlpool Corporation subsidiary Whirlpool EMEA Holdings to create a new standalone business in the European home appliances sector. Latham & Watkins advised Whirlpool.
Turunc and Polat & Partners Advise on Bogazici Ventures Investment in Dojo Talent
Turunc has advised Bogazici Ventures on its investment in Dojo Talent. Polat & Partners advised Dojo Talent Founder Alp Sezginsoy.
Post-M&A Disputes Are Waving, Making Arbitration Perfect-fit Solution
Mergers and acquisitions transactions, which has reached a global record level of 5.9 trillion dollars in 2021, are considered as one of the legal transactions with the highest potential for disputes, even though its grounds for disputes are striven to be reduced or at least brought to a foreseeable level by detailed agreements. Agreements and afterwards transactions that comply with the intentions of the parties may result in unintended consequences later. Due to geopolitical tensions, soaring inflation, turmoil in finance and energy sectors, more disputes have been arisen after the closing of M&A transactions comparing to last year. That is with respect to Berkeley Research Group’s third-annual M&A Disputes Report (“Report”), which is prepared with contributions from some of the world’s top lawyers, private equity professionals and leading experts. Report brings forth a broad perspective, on how the current market environment has changed the essence of disputes.
Regulation on the Immovable Sales Agreements to Be Issued by the Notaries Was Published
With the recent amendments to the Notary Public Law No. 1512 ("Law"), the immovable property sales agreements, which could only be executed before the land registries previously, can now be executed before the Turkish notaries as of January 1, 2023. In other words, immovable property sales agreements can now be concluded both before the land registries and the notaries as of such date.
Paksoy Advises Groupe Cahors on Acquisition of Schneider Electric’s Transformer Plant in Turkey
Paksoy, working with Willkie Farr & Gallagher, has advised Groupe Cahors on its acquisition of Schneider Electric companies that operate transformer plants in Turkey and Poland. Baker McKenzie Turkish affiliate Esin Attorney Partnership reportedly advised the sellers. Volt Associes and Kinstellar Turkish affiliate Gen Temizer Ozer reportedly advised the lenders.
Turkiye Announces Procedures and Principles on Execution of Real Estate Sales Transactions by Public Notaries
The Law on the Amendment of the Law on Judges and Prosecutors and Certain Laws (“Law“) published in the Official Gazette dated 28 June 2022 and numbered 31880 made significant amendments to Notary Public Law No. 1512 and enabled public notaries to execute real estate sales contracts.
Senay Donmez Gun Moves to Loomis as Head of Legal
Former Toros Tarim Attorney At Law Senay Donmez Gun has moved to Loomis in Turkey as the company's new Head of Legal Affairs.
Former Osborne Clarke CEO Simon Beswick Joins Kinstellar
Former Osborne Clarke CEO Simon Beswick has joined Kinstellar’s Board of Directors as a non-executive member.
Public Offering Thresholds Were Increased
With the Capital Markets Board Bulletin ["Bulletin"] numbered 2022/74 published by the Capital Markets Board ["CMB"] on December 30, 2022, the monetary amounts stipulated in the capital markets legislation regarding the public offering were increased.
Statutory Default Interest Rate and Minimum Expense Amount Determined for 2023 in the Supply of Commercial Goods and Services
Communiqué on the Default Interest Rate to be applied for Late Payments and the Minimum Expense Amount that can be claimed for the Collection Costs of Receivables in the Supply of Goods and Services (the “Communiqué”) was published in the Official Gazette dated January 2, 2023 numbered 32061 and entered into force on January 1, 2023.
Aksan Advises Maxis on Investment in MentalUP
The Aksan Law Firm has advised venture capital and private equity firm Maxis on its investment in education platform MentalUP.
Herguner Bilgen Ozeke Revamps Identity to Herguner Bilgen Ucer in 2023
Turkish law firm Herguner Bilgen Ozeke has announced the change of its name to Herguner Bilgen Ucer, by incorporating the name of Managing Partner Kayra Ucer, in 2023.
Expected E-Commerce Regulation is Published
The “Regulation on Electronic Commerce Intermediary Service Providers and Electronic Commerce Service Providers” ["Regulation"] was published in the Official Gazette no. 32058 dated December 29, 2022 and abolished the previous Regulation on Electronic Commerce Service Providers and Intermediary Service Providers published in the Official Gazette dated 26.08.2015 and numbered 29457.
BASEAK Advises SDT Uzay & Savunma Teknolojileri on IPO
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised SDT Uzay & Savunma Teknolojileri on its IPO with Info Yatirim.