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Mandatory Mediation Process for Commercial Disputes 28 December 2018
The Law on the Execution Proceedings for the Collection of Monetary Receivables Arising out of Subscription Agreements No. 7155 (“Law no.7155”) was published in the Official Gazette on 19 December 2018 and amended the Turkish Commercial Code by the addition of Article 5/A. Pursuant to new regulation, the mediation process becomes mandatory before initiating a lawsuit for commercial disputes regarding payment of a certain amount of money and compensation claims. This requirement shall not be applied to the pending cases before the courts of first instance, Regional Courts of Justice and the Supreme Court.
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What Kind of Sanctions Are Implementing to the Companies Which Send Advertisment Messages Without Explicit Consent of the Data Subject ? 24 December 2018
The Personal Data Protection Board (“Board”) published the principle resolution numbered 2018/119 and dated 16.10.2018 (“Principle Resolution”) in the Official Gazette numbered 30582 and dated 01.11.2018 due to increasing number of complaints about the transmission of advertisement messages to email address or to mobile phones via SMS or calls without the explicit concent of the data subject and without complying with the provisions of Law on Protection of Personal Data no. 6698 (“LPPD”).
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The Situation of Execution Proceedings Without Judgement In The Period of Concordat 18 December 2018
As is known, the amendments made by the “The Law Amending the Execution and Bankruptcy Law and Other Certain Laws” no.7101 published in the Official Gazette and entered into force in 28.02.2018 are mostly related with concordat. As a result of new regulations, postponement of bankruptcy was abrogated and concordat was remained in force as an only and final cure to be proceeded by debtor before bankruptcy in the law of reconstruction (or rehabilitation).
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Transfer of Commercial Enterprise in Economic Difficulties to Third Persons 26 November 2018
Due to the economic distress in our country, unfortunately it is well known fact that several companies are in financial difficulties and their solvency is weakened. These difficulties cause the real and legal persons possessing the title of merchant to seek for different ways and fall back on the practical solutions which may be accepted as collusive most of times. One of these methods is the transfer of commercial enterprise.
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Do the Foreign Investment Companies and Turkish Branches of Foreign Companies Fall Within the Scope of the Communiqué on Protection of the Value of Turkish Currency? 12 November 2018
In our previous articles, we reviewed the President Decision No. 85 published in Official Gazette and entered into force in 13 September 2018 (“President Decision no.85”) and the Communiqué No. 2018-32/51 on the Amendment of the Communiqué regarding the Decree No. 32 on Protection of the Value of Turkish Currency (“Communique”) issued to regulate the application of President Decision no.85.
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Copyright Protection Methods For The Script/Scenario 7 November 2018
According to Law on Intellectual and Artistic Works numbered 5846 (“Law No. 5846”), an idea and work of art must be a product of an intellectual effort, bear the characteristic of its author, be shaped and fall under one of the types of works enumerated under the law in order to be considered as a work and taken under protection. If a creation is considered as a work, such consideration results in the utilization of the work from the protection under the Law No. 5846. The definition of the work becomes important because of the necessity of being accepted as a work in order to protect the intellectual creations starting point of which is the thought under the scope of Law No. 5846. According Article 1/B of" Law No.5846, “work is any intellectual or artistic product bearing the characteristi...
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What are the Differences between Presidential Decree and President Decision? 2 November 2018
President Decisions, which became a current issue with the Decision no.85 on amending the Decree no.32 on Protection the Value of Turkish Currency (“Decree no.32”)[1] delivered by the President of the Republic in 12 August 2018, are mixed up with the Presidential Decrees and there is a perception in the society that these two are similar terms. However, Presidential Decrees which are entered to the Turkish Legal System by transition from parliamentary system to presidential government system and President Decisions are completely different terms with regard to the legal characteristic; therefore these two terms are subject to two different control mechanisms.
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Can the Letter of Guarantee of the Company Declared Concordat Be Converted into Cash? 30 October 2018
Due to the recent economic conjuncture in our country, many firms have difficulty on paying their debts and resort to concordat institution as a consequence. The increasing number of firms, which resort to this solution, creates insecurity for the creditor firms and causes that creditor firms seeking for a way of guaranteeing their credits regardless of the economic competence of the debtor. One of the most important guarantee mechanisms used by the creditor firms is the bank letter of guarantee.
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Is It Possible To Terminate An Agreement Due To Declaration Of Concordat? 24 October 2018
Provisions of Enforcement and Bankruptcy Law (“EBL”) on “postponement of bankruptcy” was abrogated and the scope of concordat institution was extended with “The Law Amending the Enforcement and Bankruptcy Law and Other Certain Laws” published in the Official Gazette and entered into force in 15 March 2018.
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What is the Legal Basis of Acquiring Immovable Property in Turkey by Foreigners? 22 October 2018
What is the Legal Basis of Acquiring Immovable Property in Turkey by Foreigners?
Article 35 of the Land Registry Law No. 2644 has been amended by the Law No. 6302 which entered into force on 18 May 2012. Accordingly, the condition of reciprocity with regard to acquire immovable property in Turkey by foreigners has been abolished. In this context, those countries whose citizens can acquire immovable property in Turkey in certain specified conditions, has been identified by President. With the said amendment, the Law has entitled the citizens of 183 countries to acquire immovable property “without the condition of reciprocity”. The most important reason of the said amendment is to enable Turkey for foreign investors’ acquisitions due to considerable interest to immovable property investment...
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