The Joint Chambers of Civil Court of Cassation's ["Court of Cassation"] decision dated November 12, 2021 and numbered 2020/2 E. 2021/3 K. ["Decision"], put an end to the debate regarding the nature of cooperatives. The Court of Cassation concluded that cooperatives, which include partnerships such as consumption, production, credit, and building cooperatives shall be regarded as commercial entities.
Turkish Healthcare Agency Publishes Guidelines on Homeopathic Products
The Turkish Medicines and Medical Devices Agency ("Agency") published the Guideline on License Application for Homeopathic Medicinal Products (“Guideline on Licensing”) and the Guideline on the Packaging, Homeopathic Medicinal Product Information, Legibility and Tracking of Homeopathic Medicinal Products (“Guideline on Packaging”) on March 15, 2022. Both Guidelines are based on Homeopathic Medicinal Products Licensing Regulation (“Regulation”). Within the scope of the Guidelines, the Agency has started accepting license applications for homeopathic medicinal products through the website www.ebs.titck.gov.tr, as of April 1, 2022.
Wolf Theiss and Yavuz & Uyanik & Akalin Advise on 4iG Acquisition of AlbTelecom
Wolf Theiss and Yavuz & Uyanik & Akalin have advised 4iG Nyrt on the acquisition of an 80.27% stake in AlbTelecom from a subsidiary of Turkey's Calik Holding. Tashko Pustina reportedly advised the sellers. The deal was cleared by the Albanian Competition Authority on March 4, 2022.
DMA: EU, Turkey and Beyond
Over the recent years, digitalisation and digital services have been at the core of many innovative advantages for businesses and end users alike. These benefits range from online intermediation services to software application stores. This variety offers better and more efficient choices for users while increasing competition within the digital markets industry.
BASEAK Advises on Suwen Tekstil IPO
Dentons’ Turkey affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised on Suwen Tekstil's TRY 425.5 million IPO.
Turunc and Moroglu Arseven Advise on Wellbees' Funding Round
Turunc has advised Wellbees on its recent 212 VC-led funding round. Moroglu Arseven advised 212 VC on the deal.
Recent Significant Amendments in the Consumer Protection Law of Turkey
The Law on the Amendment to the Consumer Protection and Property Ownership Law numbered 7392 [“Amendment Law”] was published in the Official Gazette on April 1, 2022. Most changes will enter into force six months later, i.e., as of September 1, 2022. In this article, we will explain the significant amendments introduced to the Consumer Protection Law No. 6502 ["CPL"] as per the Amendment Law [available in Turkish only].
Yasemin Erden Returns to Private Practice as Turunc Partner
Former Ata Holding Legal Counsel Yasemin Erden has returned to private practice as a Partner at Turunc.
The New Merger Control Regime in Turkey Entered into Force as of May 4, 2022: Sectoral Threshold Exception Explained: Concentrations in Certain Sectors Are Now Expected To Be Way More Frequently Notifiable in Turkey
On March 4, 2022 the Turkish Competition Authority (“Authority”) published the Communiqué No. 2022/2 on the Amendment of Communiqué No. 2010/4 on the Mergers and Acquisitions Subject to the Approval of the Competition Board (the “Amendment Communiqué”). The Amendment Communiqué introduced certain new rules concerning the Turkish merger control regime, which fundamentally affect merger control notifications submitted to the Authority.
Turkey Expands Scope of the FX Payment Prohibition
The Communiqué No. 2008-32/34 on the Protection of the Value of Turkish Currency was amended by Communiqué No.2022-32/66, and accordingly, a new prohibition has been introduced regarding foreign currency transactions. Pursuant to the amendment, the contract price will have to be paid in Turkish Lira in sale of goods contracts, other than those for vehicles. The new regulation expanded the scope of the prohibition on foreign currency transactions and became effective as of its publishment in the Official Gazette, i.e., on April 19, 2022. “Goods” in contracts for the sale of goods are defined as any kind of goods that do not fall under the definition of immovable goods.
Turunc Advises Bogazici Ventures on Investment in Kavaken
Turunc has advised Bogazici Ventures on leading a USD 500,000 investment round into Kavaken. Ozbek Attorney Partnership reportedly advised Kavaken.
Consulturk Advises Dalsan on Joint Venture with Saint-Gobain in Turkey
Consulturk has advised Dalsan Alci on its joint venture with Saint-Gobain Rigips in Turkey. Gide’s Turkish affiliate Ozdirekcan Dundar Senocak reportedly advised Saint Gobain.
BASEAK Advises Layer on Investment Round
Dentons’ Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised Layer as well as the investors on Layer's latest investment round.
In Search of a New Energy Normal (Part 1)
In the past twelve months, energy prices seem to have taken a life of their own. Their continued and, at times, shocking growth has raised concerns across the region and prompted differing responses and policy changes in each country. To get a more accurate picture of recent developments, we reached out to experts in Bulgaria, the Czech Republic, Moldova, Montenegro, Poland, and Turkey and asked them about the current energy prices, their impact on local economies, the drivers behind their growth, and whether any plans were in place to address the issue.
Sinem Ugur Joins Metro as Head of Competition & Compliance in Germany
Turkish lawyer Sinem Ugur has joined Metro AG in Dusseldorf as the company's Head of Competition & Compliance.
Pekin Bayar Mizrahi Hires Maral Celepyan Avsar as Partner
Norton Rose Fulbright's affiliated law firm in Turkey Pekin Bayar Mizrahi has hired former Pekin & Pekin Partner Maral Celepyan Avsar.
Metaverse: What’s Law Got To Do With It?
Metaverse is not a product or a game. It was not created by a single company. Rather, it is a worldwide 3D network where companies, information and communication tools are comprehensive and interoperable. - Prof. Scott Galloway, University of New York
On a New Adventure: Patricia Gannon Announces Platforum 9
CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.