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INNOVATIONS INTRODUCED IN THE COMPETITION LAW 25 August 2020
Under the Law Amending the Law on the Protection of Competition published in the Official Gazette dated 24 June 2020 and numbered 31165, a number of structural changes were made in the Law on the Protection of Competition numbered 4054 (“Law”). The main innovations brought within the scope of these changes are briefly as follows:
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THE CONCEPT OF PENAL CLAUSE IN LABOR CONTRACTS 21 August 2020
THE CONSEPT OF THE PENAL CLAUSE Penal clause is a concept regulated in article 179 of the Turkish Code of Obligations. Accordingly, the penal clause; it is a penalty demanded from the debtor if the debts arising from the contract are not fulfilled properly or at all.
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BASIC WAYS TO BE FOLLOWED IN ELECTRIC ENERGY GENERATION 18 August 2020
Today, there are basically two ways to establish an electricity power generation facility. The first of these is Unlicensed Electricity Generation and the other is Licensed Electricity Generation.
The "Autoproducer License", which enables a facility or a person to generate electricity to be consumed by himself, has been abolished with the Electricity Market Law ("Law") that entered into force in 2013. On the same date, another regulation that can be used for this purpose, the "Unlicensed Electricity Generation" path was introduced.
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THE CONCEPT OF THE FORCE MAJEURE UNDER THE UNITED NATIONS CONVENETION ON CONTRACTS FOR INTERNATIONAL SALE OF GOODS (“CISG”) 14 August 2020
Scope of Application of the CISG
Before evaluating the concept of "Force Majeure" according to the CISG provisions, it is necessary to determine in which cases the CISG will be applied. CISG; It is an international agreement which was accepted by the United Nations General Assembly on 11.04.1980 and entered into force on 01.01.1988. Today, this Convention has been signed by 76 states. It is also came into force on the date 01.08.2011 in Turkey.
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IS IT POSSIBLE FOR THE COMPANY LOCATED IN TURKEY CREDIT EXTENSION TO COMPANY IN ABROAD? 18 June 2020
IS IT POSSIBLE FOR A COMPANY TO LEND TO ANOTHER COMPANY?
When evaluating this matter, it will first be necessary to determine whether it is possible for a company to extend credit to another company. In this context, when the regulations in the legislation are analyzed, it is seen that there is no clear regulation regarding the lending of a company to another company.
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WHAT IS THE PARTICIPATION TO AN OBLIGATION UNDER TURKISH CODE OF OBLIGATIONS? 2 June 2020
Participation to an obligation contract is a legal institution accepted with Article 201 of the Turkish Code of Obligations numbered 6098. As per this article, participation to an obligation is defined as a contract concluded between the participant and creditor as a result of which the participant becomes jointly responsible for the obligations along with the principal debtor. The participant and the debtor shall be jointly and severally liable to the creditor through the execution of the participation to an obligation contract. Participation to an obligation means that the principal debtor remains as debtor while the participant becomes jointly liable for the performance of the same obligation that the principal debtor is subjected to.
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HOW ARE THE SEIZED SHARES OF THE CAPITAL COMPANIES TRANSFERRED? 28 May 2020
IS IT POSSİBLE TO SEIZE THE SHARES OF CAPITAL COMPANIES?
The seizure of the shares of the capital companies are regulated under the Article 133/2 of the Turkish Commercial Code. According to this provision, creditors can demand the seizure of the shares belonging to the debtors.
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SCOPE AND THE EFFECT OF THE SHARE VOLUME IN THE JOINT STOCK COMPANIES 21 May 2020
In the joint stock companies, the shares granting the shareholder some rights related to their assets and management can be subject to share lien due to the shareholder's debts to third parties. Foreclosure results in restriction of the debtor's power of disposition in favor of the creditor on the foreclosed property. However, as a rule, it does not give the creditor the right to benefit from the consequences of the property or right that is seized. Similarly, there will be restrictions in favor of the creditor on certain rights of the shareholder in the lien of the joint stock company. In this context, in cases where the shares in the joint stock companies are foreclosed, it is important which rights are included in the scope of the lien. It will be appropriate to examine the effects of f...
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SHARE TRANSFER LIMITATIONS IMPOSED BY THE ARTICLES OF ASSOCATION IN JOINT COMPANIES 19 May 2020
As it is known, detailed regulations regarding share transfers in joint stock companies were made by the Turkish Commercial Code No. 6102. According to the relevant provisions, share transfers may be limited by the law or the articles of association.
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WHAT SHOULD BE CONSIDERED IN DISPUTES DUE TO THE COLLECTION OF FOREIGN CURRENCY RECEIVABLES UNDER TURKISH LAW? 14 May 2020
In today's commercial life, which has gained a global dimension with each passing day, especially in international contracts, it is often seen that money debts are determined in a currency other than the national currency. On the other hand, in the collection of foreign currency debt that cannot be collected on maturity date, it is important to determine the matters in which the performance of the debt can be requested, the exchange rate to be applied and the interest rate to be requested.
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