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As the coronavirus outbreak is increasing rapidly by day, more uncertainty and difficulty for enterprises and businesses are born particularly in regard to the performance of contractual obligations. Herewith, more and more businesses and organisations are now inevitably looking at their contracts to see what impact the coronavirus outbreak will have and how they can mitigate and navigate the challenges brought by the pandemic. Ultimately, businesses worldwide are considering whether they can or should rely on the force majeure clause, if there is one in the relevant contract, or the common law doctrine of frustration as legal mechanisms to manage the impact of the crisis on their business and see what possible remedies might be available at the end.

Under Turkish Law, the main purpose of each contract is that the parties' fulfilling their mutual obligations. One of the general principles of law and primary rule of contract law is the principle of pacta sunt servanda.

On March 23, 2020, The Union of Turkish Bar Association submitted a letter to the Ministry of Justice to address problems accruing in the judiciary due to the COVID-19 pandemic. Following this call, the deadlines for proceedings were temporarily suspended due to the COVID-19 pandemic by the judgment adopted on 25 March 2020. A number of regulations have been made to prevent the loss of rights in the judiciary.

The General Directorate of Domestic Trade of the Ministry of Trade (the “General Directorate”) has issued an official statement on March 20, 2020 (“Statement”) in order to adopt certain measures to ease the process of holding general assembly meetings of joint stock and limited liability companies (together, the “Companies”) in the light of ongoing concerns about the novel coronavirus (COVID-19) outbreak across the country.

Gessel has advised Polski Bank Komorek Macierzystych on its acquisition of 70% shares in the newly created Famicord-Acibadem company. Caliskan Okkan Tokker reportedly advised PBKM as well, while Esin Attorney Partnership advised Acibadem on the transaction.

Basak Gurbuz, the former Counsel & Director responsible for legal matters in Turkey at The Walt Disney Company, has now joined Visa as its Senior Regional Counsel for South-Eastern Europe, where she will be responsible for nine jurisdictions: Bulgaria, Croatia, Cyprus, Greece, Israel, Malta, Romania, Slovenia, and Turkey.

Gokce Sarisu Kanmaz Joins Dentons BASEAK in Istanbul

Former EY Law Associate Partner Gokce Sarisu Kanmaz has joined the Tax practice of Balcioglu Selcuk Ardiyok Keki Attorney Partnership as a Partner.

The GDPR, which canceled previous European data protection regulations, represents the biggest change in those regulations in 20 years. Naturally, this amendment affects the methods of obtaining and processing personal data regardless of the size and structure of the companies doing so. All institutions in the transportation sector, including land, sea, air, and rail operators, agencies, airlines, and municipalities are also subject to the GDPR’s requirements.

Gide Loyrette Nouel has advised Groupama Holding Filiales et Participations on the sale and transfer of its 10% stake in Turkish insurance company Gunes Sigorta A.S. to TVF Finansal Yatirimlar Anonim Sirketi, a subsidiary of the Turkey Wealth Fund. Baker McKenzie advised TVF on the transaction, which closed on February 14, 2020.

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