The Legal 500

Turkey

 

Legal market overview

Turkey experienced a decline in transactional activity but has continued to attract interest from foreign investors. The energy sector’s ongoing privatisation and expansion has attracted significant attention as the Turkish government seeks to solve the country’s energy deficit. The technology and telecoms, construction and real estate sectors are also increasingly active.

In the legal market, foreign-domestic tie ups remain in vogue in order to work around Turkey’s attorneyship law which prohibits foreign law firms from practising Turkish law. Foreign law firms with offices in the country advise on international law and use co-operation agreements with Turkish law firms to provide clients with local legal representation. Among some of the well-established international firms teaming with local counterparts, White & Case Müsavirlik Limited Sirketi has close working relationships with both Akol Avukatlik Bürosu and Çakmak Avukatlik Bürosu. The alliance between YükselKarkinKüçük Attorney Partnership and DLA Piper Danismanlik Hizmetleri Avukatlik Ortakligi has drawn much attention, and has shored up the former’s already strong position across a number of practice areas. Independent firms such as Pekin & Pekin, Birsel Law Office, Paksoy and Hergüner Bilgen Özeke are highly respected and have impressive client followings. Notably, Bezen & Partners opened its new Ankara office in 2013 to add to its existing location in Istanbul.

A number of other firms are also notable on a sector-specific basis: BTS & Partners, for example, is a clear leader in IT and telecoms matters. Akinci Law Office is notable for arbitration, as is ELIG, Attorneys-at-Law for competition law, and Mehmet Gün & Partners for intellectual property law.

Press releases

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Legal Developments in Turkey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Civil Aviation in Turkey: A Fine Balance Between Growth and Regulatory Tendencies

    General Framework
  • Strong Regulatory Base of the Turkish Banking Sector Amid Mixed Signals

    Mixed signals are recently coming from the Turkish Banking sector. The industry, on the one hand, has recently seen an unprecedented levels of volume which is estimated to be USD$ 855 billion to dwarf the economic might of 22 of the 28 EU member states and on the other hand has been witnessing a reduction in the credit volume that went down to 1.130 trillion Turkish liras as of the July 2014. It is not easy to comprehend the meaning of such conflicting signals emanating from the Turkish banking industry. In order to make sense of the current shape that the Turkish banking industry takes, it is better to see the bigger picture in Turkey which has been leading the Turkish authorities to regulate the industry in increasing frequency.
  • US Aviation and Defense Industry: Simultaneous Growth and Decline

    The American aerospace and defense industries have recently found themselves in an odd situation of simultaneous growth and decline.  To be more precise the non defense related component of the industry; the civilian aviation industries are bent on a course of growth, however the other component of the industry; the defense related aerospace industry is in decline.
  • Turkish Treasury Is Giving Its Word - The Debt Assumption Model Has Been Adopted

    Long awaited legislation on the debt assumption model will benefit PPP and BOT projects in the infrastructure, healthcare and education sectors. The debt assumption model has been finally introduced recently into Turkish legislation. The new piece of regulation is paving the way for the Turkish Treasury to assume project debt borrowed by project companies in large-scale BOT model infrastructure investments and healthcare and educational campus PPP projects. The Debt Assumption Regulation was published in the Official Gazette on 19 April 2014.
    - Paksoy
  • Legal Remedy Against Decisions About Precautionary Attachment

    In this article, we have reviewed the legal opinion and information about rejection of precautionary attachments and decisions considering Code of Civil Procedure ( "Code" ) numbered 6100 and Court of Appeal Assembly of Civil Chambers Precedent Decision numbered 2013/1 E. 2014/1 K.  /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:Calibri; mso-ansi-language:TR; mso-fareast-language:TR;}
  • Well – Known Trademark

     
  • Introduction to IP in Turkey

    Normal 0 false false false EN-US JA X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:Calibri; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} In the world where the importance of corporate image increases, nonmaterial assets, become more of a nonfigurative issue, day by day. Trademarks, patents - utility models, industrial designs, copyrights and unfair competition are the main subjects of Intellectual Property. We will discuss each of these subjects below.
  • Insurance Sector in Turkey

    Insurance Sector in Turkey
  • Judicial Remedies for Customs Tax Disputes Have Changed

    Judicial Remedies for Customs Tax Disputes Have Changed
  • Communiqué on Spatial Planning Preparation

      I. INTRODUCTION

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
  • 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
  • Halkbank Issued USD 500 Million Notes

    Halkbank issued five-year term fixed interest rate US currency notes, with a total amount of USD 500 million  with an interest rate of 4.765 %  and an annual coupon rate of 4.750 %. The notes offered the lowest borrowing rate in the first five-month period of 2014, and total demand rose nearly nine-fold due to high investor interest. The note issuance drew great interest from international investors settled in the Middle East and Asia, as well as those investors based in the US and Europe. Mr Omer Collak (partner) and Mr Baris Kencebay (head of tax practice) have advised the joint lead managers.
    - Paksoy
  • Turkiye Finans to Issue Ringgit Sukuk to Raise Up to MYR 3 Billion In Malaysia

    Turkiye Finans issued the first ringgit sukuk originating from Turkey. The bank initially raised MYR 1 billion with a five-year commodity sukuk on June 30, with an annual return of 6 %. The sukuk under the programme will have tenure of one to 20 years. Funds raised will go towards general corporate purposes. The sukuk will be issued through TF Varlik Kiralama A.S., a wholly-owned subsidiary of Turkiye Finans. Malaysia's RAM Ratings has accorded the programme an indicative long-term rating of AA3. HSBC Amanah Malaysia and Standard Chartered Saadiq were the joint advisers. Mr Omer Collak (partner) and Mr Baris Kencebay (head of tax practice) have advised Turkiye Finans and the issuer TF Varlik Kiralama A.S.
    - Paksoy
  • Ziraat Bank Established GMTN Programme to Issue Bonds Worth USD 2 Billion

    Ziraat Bank, the largest state owned bank of Turkey, established GMTN programme on 21 May 2014, for the notes to be issued up to  USD 2 billion listed on Irish Stock Exchange. The notes are unconditional, unsubordinated and unsecured obligations, and rank  pari-passu with Ziraat Bank's other senior unsecured obligations.
    - Paksoy
  • Vakifbank Sells EUR 500 Million Notes Under USD 5 Billion GMTN Programme

    Vakifbank issued EUR 500 million 5-year unsecured and unsubordinated notes under the first GMTN programme of Turkey established in 2013. The notes are listed on Irish Stock Exchange and bear interest at the rate of 3.5 % p.a. with a maturity date 17 June 2019. This is the very first EUR denominated RegS offering of a Turkish entity.
    - Paksoy