The Legal 500

Syria

Syria > Legal market overview

Leading individuals

With the conflict in Syria having been ongoing since 2011, it is estimated that the country’s economy has been damaged to the tune of $20bn as Syria’s two most important sectors – tourism and oil – have been deeply affected. Syria has also been hit by steep falls in productivity, high unemployment levels and ruined infrastructure. Furthermore, the Arab League, the US and the EU have imposed sanctions on the country, which are designed to deter investors from doing business with Syria.

Consequently, most of Syria’s law firms have been unable to offer full-service practices; although most of the firms have predominantly domestic practices, Syria’s legal advisers have seen their international workloads diminish greatly or shut down altogether.

Nonetheless, international clients with Syrian business interests continue to require strategic legal advice on how to manage the exits of their investments from the country or how to suspend such investments.

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Legal Developments worldwide

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  • SQUEEZE-OUT RIGHT IN PUBLIC COMPANIES -- TURKEY

    Squeeze-out and sell-out rights in Turkish public companies are regulated by the Communiqué on Squeeze-Out and Sell-Out Rights (the " Communiqué ") published in the Official Gazette dated 2 January 2014 effective as of 1 July 2014. The Communiqué was issued by the Capital Markets Board of Turkey (the " CMB ") in accordance with the Capital Markets Law and regulates the right to squeeze-out minority shareholders by the controlling shareholder and the minority shareholders' rights to exit the public company by selling their shares to the majority shareholder.
    - Paksoy
  • Financial Services and Regulatory Summer Update 2014

    The aim of this Update is to focus on current legal and regulatory developments affecting financial services institutions in Jersey and to provide some brief thoughts on the implications of these developments for your business. In this Update, we look at current consultations on civil penalties and changes to the Money Laundering Order. Our Spotlight article considers changes to the tipping-off rules which are coming into effect shortly.   Read more...
  • Integration of US and Europe Energy Markets: TTIP and Global Energy Trading Projection

    Shale gas revolution has been driving US energy market by increasing economic and industrial competitiveness. Today, shale gas has gained acceptance as "bonanza" which triggered slump in gas prices and sparked off widening the energy gap between US and Europe. US gas export is forecasted to bemounted up 6 billion cubic feet per day signifying UK's daily demand in winter as of 2020. At this stage, a potential oil and gas trade between US and EU will become an inevitable pace for world energy supply-demand balance.
  • Transatlantic Trade and Investment Partnership: How should Turkey Cope with the Changing Dynamics?

    The free trade agreement, known with its acronym TTIP , currently being negotiated between the United States and the European Union is expected to have immense legal implications as well as commercial ones for the signatories. The numbers are self explanatory; two blocks when combined together produces almost half the world's GDP and around one third of the total world trade. The bilateral trade across the Atlantic has already exceeded USD 3.7 trillion. For these two economic giants to sign such a deal mean a monumental shift in world economic balances. As the United States and the European Union are expected to benefit significantly from such shift, the countries that will be left out will have to face a new legal regime that would cover the entire jurisdiction producing half of the world's GDP.
  • Bright Future Of Solar Power Market In Turkey

    In recent years renewable energy market development became primary energy strategy of Turkish government with the intention of improving energy efficiency and decreasing energy import dependency. Particularly, solar power seems as fundamental resource  of electricity generation in the near future. In terms of insolation Turkey possesses high potential among European countries.
  • LITIGATION AND DISPUTE RESOLUTION

    Certain important and recent case laws in this area are set out below.
  • PROJECTS, ENERGY & NATURAL RESOURCES

    Certain important legal developments in this area are set out below.
  • Real Estate/ Property

    Certain important and recent case laws in this area are set out below.
  • TECHNOLOGY, MEDIA & BROADCASTING TELECOMMUNICATIONS

    Certain important legal developments in this area are set out below.
  • Trade Laws and WTO Matters

    The recent developments pertaining to anti-dumping duties are as follows:

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to
  • A Guide to Arbitration in the Cayman Islands

    Arbitration is a mechanism of binding dispute resolution which entails resolving disputes outside court in accordance with procedures and standards as determined by the parties in dispute. Arbitration is therefore an alternative to traditional litigation and is distinct from non-binding forms of dispute resolution such as mediation.
  • The Cayman Islands Enacts implementing Legislation to comply with its international obligations

    As part of the Cayman Islands longstanding commitment to tax transparency and meeting international standards (most notably reflected in the fact that the Cayman Islands are on the G-20's 'white list' of compliant jurisdictions), the Tax Information Authority (International Tax Compliance) (United States of America) Regulations, 2014 (US Regulations) and the Tax Information Authority (International Tax Compliance) (United Kingdom) Regulations, 2014 (UK Regulations and together the Regulations), were gazetted and therefore brought into force in the Cayman Islands on 4 July 2014.
  • Lakatos, Köves advised Al-Habtoor on buying Intercontinental Hotel in Budapest

    The Gulf-based investor, Khalaf Al-Habtoor chose Lakatos, Köves and Partners again for a new hotel transaction in Budapest
  • Goltsblat BLP: AB Krasny Gold Fields has entered into a JV with GV Gold

    Corporate/M&A of Goltsblat BLP, the Russian practice of international law firm Berwin Leighton Paisner (BLP), have supported the deal whereby GBLP client - AB Krasny Gold Fields has entered into a joint venture to explore and exploit a gold hard rock deposit in Irkutsk Region (Kransy Project) with one of the key gold producers in Russia   Open Joint Stock Company "GV Gold" ("GV Gold"). Under the terms of the agreement, GV Gold may earn up to a 51% interest in the Krasny Project by financing an in‐fill exploration program. Signing of the agreement means that the parties have agreed to the final details of the deal structure and the exploration program. 
  • Exempted Limited Partnership Law, 2014

    The Exempted Limited Partnership Law, 2014 (the New ELP Law ) has replaced the Exempted Limited Partnership Law (2013 Revision) (the Previous Law ). The New Law includes significant changes to the Cayman Islands' statutory framework regulating exempted limited partnerships ( ELPs ) that will increase the attractiveness of ELPs and will be appreciated by managers, investors and creditors alike. Private equity sponsors in particular will notice substantial improvements that are indicative of Cayman's continuing commitment to balanced and commercially sensible legislation. Read more...
  • Restructuring and insolvency in Luxembourg (part 2)

    RESTRUCTURING - COURT PROCEDURES
  • Enhancements to the Companies (Jersey) Law 1991

    On 23 May 2014, the States of Jersey passed the Companies (Amendment No. 11) (Jersey) Law 201- (the Amendment Law ).  This will now be sent to the UK Privy Council for consideration, then laid before the States of Jersey for a final time before coming into force.  The latest information we have is that the Privy Council will be approving the law on 19 July 2014 and it may come into effect as soon as 4 August 2014.
  • Joost Fanoy appointed partner at BarentsKrans

    The Hague, 4 July 2014 - BarentsKrans has appointed Joost Fanoy as a partner in the Antitrust & Public Procurement department, effective as of July 1, 2014. Joost specializes in European law in general with a particular focus on European and Dutch competition, public procurement and state aid law and is the head of the Antitrust and Public Procurement Practice Group. Joost is also a member of the Cartel damages team of BarentsKrans.
  • PineBridge Acquires 50% Stake in Romatem

    PineBridge Investments Middle East, a global multi-asset class investment manager with regional headquarters in Bahrain, and nearly 60 years of experience in emerging and developed markets, has acquired a 50% equity stake in Romatem, the leading physical therapy and rehabilitation services chain in Turkey.
    - Paksoy
  • Isbank Issued USD 750 Million Notes

    Isbank issued 750 million USD notes under its GMTN programme established in 2013. The notes are listed on the Irish Stock Exchange and bear interest at the rate of 5 % with a maturity date 2021. Mr. Omer Collak (partner) and Mr. Baris Kencebay (head of tax practice) have acted for the joint lead managers Barclays, Citigroup, HSBC, National Bank of Abu Dhabi and The Royal Bank of Scotland.
    - Paksoy