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" Günes Law Firm started as a local legal practice in 1999 and has grown rapidly in both staff and capacity ever since. Its early success was the result of the firm’s commitment to providing exceedingly high-quality services in many specialities from its three offices. Günes offers resul..." read more
"Bezen & Partners is a full service law firm providing legal services to domestic and international clients. Its partners have extensive experience in complex, cross-border transactions, gained through their employment in the offices of Magic Circle law firms. Areas of practiceFinance: the f..." read more

Overview

The long economic bull run that came to an end in 2008 has been a boon to Turkey’s main commercial law firms, and had a considerable impact on the shape and form of the legal market. Traditional family run firms with tightly held equity partnerships that have existed since the 1960s and 1970s, or even earlier, have started to fracture, as more ambitious partners and senior associates set up their own practices. These new firms are now slowly coming to the fore. Prominent recent examples include Paksoy, YukselKarkinKucuk, ELIG, Attorneys-at-Law and EsinIsmen. That isn’t to say the old guard is suffering, and the more established names, with their almost dynastic legal clans, such as Birsel Law Offices, Hergüner Bilgen Özeke, Pekin & Pekin, Cerrahoglu Law Firm, Pekin & Bayar Law Firm, and Cosar Attorneys at Law, still very much dominate the rankings. They too are adapting to the legal market and are bringing through senior equity partners that don’t share one of the names on the letterhead.

It is too early to say what the impact of the global downturn will be on these law firms, old and new, but since most are still small by Western standards they should be able to adapt more efficiently to the changing economic climate. Strict local bar rules that forbid opening branch offices have also put a dampener on any expansionist ambitions. These restrictive regulations are unique to Turkey, and ensure that officially firms can only have one office. Most have their headquarters either in Istanbul or Ankara, but get around the rules by having a small office in other cities that are only used by ‘visiting’ lawyers. These strict rules are also extended to foreign law firms operating in Turkey, of which there is a more detailed explanation in the ‘Foreign Firms’ section.

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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
  • Legal Newsletter Q4/2009

    The latest quarterly Pekin & Pekin Legal Newsletter has been published. Outlining key developments in the past three months, the newsletter is an essential source of concise information for those outside of Turkey keeping track of legislative changes. This quarter looks at the new Cheque Law, REITS, new rates of taxation and important regulatory developments in the energy and telecoms sector.
    - Pekin & Pekin
  • Proposed amendments on pending ‘Draft Turkish Banking Law’:

    Proposed amendments on pending ‘Draft Turkish Banking Law’: Is it constituting a hindrance for new comers to the market?
    - D & D Law Firm
  • INTRODUCING THE UMBRELLA ENVIRONMENTAL PERMIT: “ENVIRONMENT PERMIT AND LICENSE”

    The “Regulation on the Permits and Licenses required under the Environment Law” (Environment Permit and License Regulation), introduced in April 2009, sets forth the procedures under the Environment Law for obtaining the permits and licenses for activities listed in Annexes 1 and 2. Under this Regulation:
    - Hergüner Bilgen Özeke
  • LEASE VS. RIGHT OF CONSTRUCTION: WHICH WINS OUT IN A NEW REAL ESTATE DEVELOPMENT?

    The lease – the leading option for real property investors in Turkey – has a strong competitor these days: the right of construction. Factors such as the nature of the site, the purpose of the investment and the investment fund help investors to determine the appropriate transaction type. But apart from assessing these commercial and financial concerns, a comparison of the respective benefits of the lease agreement (right in personam) and right of construction agreement (right in rem) from a legal perspective can help in making the right investment, in the right place, with the right kind of real estate transaction.
    - Hergüner Bilgen Özeke
  • WHAT’S NEW IN THE DRAFT TRADEMARK LAW?

    Decree with Force of Law No. 556 (“Trademark Decree”), prepared and issued by the Council of Ministers in accordance with Directive 89/104 EEC of European Council and European Community Regulation (EC) No 40/94 on Trademarks, introduced the formal protection of trademarks in Turkey.
    - Hergüner Bilgen Özeke
  • MEDIATION: TURKEY ON THE VERGE OF A NEW TERRITORY?

    Since 2007, the Turkish government has been working on a mediation model for the settlement of disputes. The Draft Law on Mediation of Civil Disputes (the "Draft Law") is currently pending for the review by the justice sub-commission of the Turkish Parliament. Following the review of the sub-commission, the Draft Law will be voted on in Parliament in order to be enacted.
    - Paksoy
  • ABUSE OF DOMINANT POSITION

    Market competition is regulated in Turkey by the Competition Law enacted on 7 Decem-ber 1994. The regulatory authority is the Competition Authority and the decision-mak-ing body is the Competition Board. The Com-petition Law has three pillars: (i) agreements, decisions and practices preventing, distort-ing or restricting competition in markets for goods and services; (ii) abuse of dominance by the undertakings dominant in the market; and (iii) the control of mergers and acqui-sitions that could lead to the creation or strengthening of a dominant position.
    - Paksoy
  • TENDER OFFER RULES – TURKEY

    On 2 September 2009, the Turkish Capital Markets Board (the “CMB”) promulgated a new set of rules on tender offers relating to public companies. The new tender offer rules replaced the earlier CMB regulation on the matter, and introduced important changes on mandatory offers, terms of offers, minimum offer value, payment of consideration, voluntary offers, rules, procedures and principles to be complied with, and so on.
    - Paksoy
  • THE ENFORCEMENT PROCEDURE OF ARBITRAL AWARDS IN TURKEY

    Foreign judgments including the ones from arbitration courts or tribunals become recognizable under Turkish law via separate judgment of the Turkish Courts called ‘recognition and enforcement decisions’(in Turkish the procedure is named ‘tenfiz’). Following such decisions by Turkish Courts, the foreign judgment or arbitral award becomes enforceable in Turkey as a Turkish Court decision and any monetary debt may be collected accordingly through execution filings dependent on the execution (bailiff) offices of the Courts.
    - ADMD Law Office
  • Cash pooling in Turkey – an end to prohibition

    Slowly but surely, financial law in Turkey is moving toward global standards. Turkish banks are currently in the midst of implementing new cash pooling policies, following amendments passed last year to the foreign exchange regulations. In line with the newly legalised practice of physical pooling, Turkish companies are now able to transfer via banks cash funds abroad for investments or to conduct commercial activities through a newco, partnership or branch, allowing for the reciprocal flow of funds.
    - Pekin & Pekin

Press releases

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to