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Press releases and law firm thought leadership

This page is dedicated to keeping readers informed of the latest news and thought leadership articles from law firms across the globe.

If your firm wishes to publish press releases or articles, please contact Shehab Khurshid on +44 (0) 207 396 5689 or shehab.khurshid@legalease.co.uk

 

Legal Developments Worldwide

Articles contributed by ADMD Law Office

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NON-DELIVERY PLEDGES OVER MOVABLES

July 2017 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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Law on Pledges over Movable Property in Commercial Transactions No. 6750 is published in the Official Gazette No. 29871 and dated October 28, 2016 and entered into force as of January 1, 2017. Law on Pledges over Movable Property in Commercial Transactions No. 6750 abolished the Commercial Enterprise Pledges Law No. 1447 and dated July 21, 1971 and introduced many new innovations to movable pledges. However, Commercial Enterprise Pledges Law No. 1447 will remain applicable for commercial enterprise pledges that are already established before 1 January 2017.

There are some similar implementations between immovable pledges (mortgages) in the Turkish Civil Code and non-delivery movable pledges in commercial transactions. The main purpose of this law could be stated as to increase the use of non-delivery movable pledge rights as assurance and facilitating the access to sources of financing for the Small Medium Enterprise’s (“SME”)

ABOUT THE TURKISH LAW ON PROTECTION OF PERSONAL DATA

January 2017 - TMT ( Technology, Media & Telecoms). Legal Developments by ADMD Law Office .

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Turkey adopted a new regulation for personal and private data protection. 

HOW TO CLAIM REFUNDS FOR OVERCHARGED IMPORT TAXES DUE TO SURVEILLANCE CERTIFICATE REQUIREMENTS

August 2016 - Tax & Private Client. Legal Developments by ADMD Law Office .

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Ministry of Economy determines certain minimum thresholds for certain products in order to force the exporters to pay higher taxes on the products in customs. In this respect, the Ministry determines the minimum value threshold per each kilogram of the imported product and sets forth that any exports into Turkey that does not meet this minimum value threshold shall be required to obtain a surveillance certificate from the Ministry. This is mainly implemented for tax purposes and to protect the local producers in Turkey. Based on new precedent, it is now possible to reclaim such overpaid tax and expenses. 

REINSURANCE & REINSURANCE INVESTMENTS BY INTERNATIONAL COMPANIES IN TURKEY

March 2016 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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The laws and regulations governing the insurance and reinsurance practices in Turkey are quite complex, since the principles and provisions governing the insurance and reinsurance practices are set forth at different laws, regulations and communique, including Turkish Commercial Code No.6102 dated January 13, 2011 (hereinafter referred as Law No.6102), Insurance Law No.5684 dated June 3, 2007 (hereinafter referred as Law No. 5684), Regulation Regarding Consideration of Capital Adequacy of Insurance, Reinsurance and Pension Companies published at Legislative Journal dated January 19, 2008 and No. 26761 (hereinafter referred as Regulation Regarding Capital Adequacy 2008) and the Regulation Regarding Consideration of Capital Adequacy of Insurance, Reinsurance and Pension Companies published at Legislative Journal dated August 23, 2015 and No. 29454 (hereinafter referred as Regulation Regarding Capital Adequacy 2015).

New Regime for Residence Permit Applications in Turkey

June 2015 - Employment. Legal Developments by ADMD Law Office .

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The entry of foreigners into Turkey, visa requirements, principles and procedures of the scope and application of international protection, regulations and novelties on establishment, duties and the mandate of General Directorate of Immigration Management (“General Directorate”) is regulated by the Law on Foreigners and International Protection No. 6458 that was published on April 11, 2013. The Law on Foreigners and International Protection No. 6458 (“the Law”) has entered into force on April 11, 2014 and has abrogated the formal Law on Residence and Travels of Foreigners in Turkey No. 5683 by entering into force.

Board Member Liabilities Under Turkish and Belgian Laws

August 2014 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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Considering the significant role endorsed by board members within companies, it is important that directors know in which situations they may encounter civil or criminal liabilities for their actions. In general, the rules regarding the responsibilities of board members are part of corporate governance code of conduct. However, in many countries such as Turkey and Belgium liability rules applying to directors are integrated within the legislation directly. This brief information note targets to summarize the liabilities of the members of the boards of directors of the capital companies in Turkey and in Belgium. 

Domain Name Regulations in Turkey and in Singapore

August 2014 - TMT ( Technology, Media & Telecoms). Legal Developments by ADMD Law Office .

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In an era characterized by the growth of the activities developed through internet, it is essential that coherent and complete systems organizing domain names are established. In this perspective, it is interesting to analyze how different countries regulate the domain names relying on their ccTLDs. This brief aims to compare regulations regarding domain names both in Turkey and in Singapore. 

 

Payment & Security Settlement Systems and E-Money Insutitions in Turkey

August 2014 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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The law regulating electronic money (e-money) and electronic payments (e-payments) in Turkey, namely the Law on Payment and Security Settlement Systems, Payment Services and Electronic Money Institutions No. 6493 (the "Law") entered into force as of June 27, 2013 following publication at the Official Legal Journal (Gazette) dated June 27, 2013 and No. 28690.

This Law introduces a new regulatory framework which covers the procedures and principles of payment and security settlement systems, payment services, payment institutions and electronic money institutions. Within its framework, it establishes new definitions and licence requirements, which will require certain organisations to take further action in order to achieve regulatory compliance for the purposes of providing e-money services.

Restrictions on Rental Increases at Lease Contracts Under Spanish, Dutch and Turkish Laws

May 2014 - Real Estate & Property. Legal Developments by ADMD Law Office .

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It is customary to increase rents at lease contracts annually almost all around the world. Generally, the main source of such increase is inflation of monetary currencies and revaluation of the properties leased. However, there are legislative restrictions at many jurisdictions, limiting such application or predetermination based on contractual freedom on rental increases.

These restrictive regulations mostly aim to protect the tenants assumed to be less powerful than the landlords economically and contain a social agenda. Accordingly, landlords cannot increase the rents (leases) and/or tenants may resist on such increases.

  The below outline aims to summarize such restrictions applied comparatively in Turkey, in the Netherlands and in Spain. 

OBLIGATION TO MAINTAIN COMPANY WEBSITES UNDER THE NEW TURKISH COMMERCIAL CODE

April 2014 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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The (New) Turkish Commercial Code No. 6102 dated July 1, 2012 ('the Law') implemented a number of provisions and brought additional obligations for capital companies. One of such obligations set forth by the Law is the obligation to have a dedicated website. According to Article 1524 of the Law, all capital companies subject to auditing are also required to open a dedicated internet website and publish certain information. 

How to Incorporate in Turkey

April 2014 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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Non-resident companies and/or foreign individuals may choose to enter into Turkish market through incorporation of a commercial entity. Find below a summary of relevant information regarding available company types, branches and liaison offices. 

Obligation to Maintain Company Websites Under The New Turkish Commercial Code

January 2014 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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OBLIGATION TO MAINTAIN COMPANY WEBSITES

UNDER THE NEW TURKISH COMMERCIAL CODE

 

ADMD Law Office

Ali Yurtsever

 

Overview

The (New) Turkish Commercial Code No. 6102 dated July 1, 2012 ('the Law') implemented a number of provisions and brought additional obligations for capital companies. One of such obligations set forth by the Law is the obligation to have a dedicated website. According to Article 1524 of the Law, all capital companies subject to auditing are also required to open a dedicated internet website and publish certain information. 

Employment Termination Based on Economic Reasons in Turkey

October 2013 - Employment. Legal Developments by ADMD Law Office .

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The Turkish Labor Law No. 4857 ('the Law') sets forth the procedures and the circumstances for termination of employment contracts of employees by employers. With the confines of the Law, two separate termination mechanisms, namely rightful (just) termination and termination based on justifiable cause are available.

 

According to the Law, the termination of the employment contract of an employee that is working with contract of undefined term for at least six (6) months at a workplace that employs more than thirty (30) employees, must be based on a justifiable cause.

 

In this context, pursuant to Article 18 subparagraph 1 of the Law, the employer has the right to terminate the employment contracts without a designated term based on the necessities of the business, work or the workplace.

 

Termination based on the necessities of the business, the work or the workplace is essentially the termination of employment contract that is not concerned with the employee as an individual, but rather the termination that is related to the excess work force arising from the job/work of a specific employee, employed in the relevant company, being abolished due to economic, competitiveness and efficiency needs of the employer and/or reasons based on technological advances.

 

It should be noted that, although Article 18 of the Law sets forth that an employment contract can be terminated based on the necessities of the business, the work or the workplace but it does not state which circumstances will constitute grounds for such justifiable termination. However, the justification of the Law adopted by the Parliament provides some non-exhaustive examples.

 

According to justification texts of the law, the necessities of the business, the work or the workplace can be grounded to two main categories: external causes and internal causes. Application of new methodologies and downsizing at the workplace, elimination  of departments and positions are stated as internal causes. External causes are listed as general decrease of sales opportunities, supply and demand, energy shortage, loss of foreign (external) markets, raw material shortage or general economic crises.

Polish and Turkish Legal Systems for Value Added Tax (VAT)

October 2013 - Tax & Private Client. Legal Developments by ADMD Law Office .

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The value added tax (VAT), is a type of indirect turnover based tax that is levied during the final phase of the purchaser of the goods and is included in the price of the purchased item or service. Being a turnover tax, VAT is levied at each stage of the production and the distribution process as well. Although liability for the tax rests on the person who supplies or imports the goods or services, the real burden of VAT is borne by the final consumer (shifting feature). This means that such type of tax is characterized by its shift. It is non-cumulative, based on the method of invoice (only Japan is the exception), aimed at entrepreneurs as well. Tax shifting is the most important concept associated with VAT. With the deduction mechanism the difference between the VAT liability of a person on his (their) sales (output VAT) and the amount of VAT, has been already paid by them on his (their) purchases (input VAT). This brief article targets to summarize and compare the VAT systems of Turkey and of Poland with consideration on the general applications of VAT in EU countries. 

Polish and Turkish Legal Systems for Maternity Leave of Employees

August 2013 - Employment. Legal Developments by ADMD Law Office .

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Maternity leave (also referred as parental leave, paternity or adoption leave) is a form of an employee benefit that provides paid or unpaid time-off from work for the purposes childbirth or child welfare. Maternity leave is guaranteed mostly by the constitutions or by statutory regulations in all EU states including Poland, as well as in Turkey. This brief information note aims to summarize the systems in Turkey and in Poland.

Jurisdiction over the Turkish Steel Cases at the U.S. Court of International Trade

July 2013 - Transport. Legal Developments by ADMD Law Office .

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Steel is an important part of the Turkish economy, and an increasingly important part of Turkey's exports. According to the Office of the U.S. Trade Representative, Turkish steel production grew 117% from 2002 to 2012, making Turkey the world's number 8 producer of Steel and the world's number 7 exporter of steel. See 2012 Final Report on Turkey, p. 3 (2012), www.ustr.gov/sites/default/files/turkey.pdf. Turkey exported approximately half of its total steel output in 2012, amounting to 18.4mm metric tons of steel. See 2012 Final Report on Turkey, p. 3 (2012), www.ustr.gov/sites/default/files/turkey.pdf

U.S. domestic steel producers have consistently raised concerns about the Turkish steel industry, alleging that it is subsidized and unfairly aided by the Turkish government. The U.S. Commerce Department and its International Trade Administration have issued reports and determinations since 1986 and found a variety of Turkish subsidy programs to be dependent on export performance and imposed countervailing duty and anti-dumping penalties on the Turkish steel industry.  

Turkish steel producers have challenged these rulings in the U.S. Court of International Trade (CIT) with varying degrees of success. The CIT has generally been more favorable to Turkish producers than the administrative agencies (namely Commerce). However the availability of CIT jurisdiction over these cases is not cut and dry.  

 The issue of CIT jurisdiction over these cases will continue to grow in importance as Turkey's steel production and export increase in absolute terms. Disputes between the U.S. and Turkish steel producers are already making their way through the WTO, with a case to be heard in July 2013. The ability of Turkish steel producers to seek judicial review in the United States therefore remains an important issue in Turkey-U.S. trade relations.  

A Comparison of the Legal Use of Electronic Signatures in the U.S.A. and in Turkey

July 2013 - TMT ( Technology, Media & Telecoms). Legal Developments by ADMD Law Office .

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In response to the rapid growth of electronic commerce, as well as the wide-spread use of email, fax, and online resources in the negotiation of contracts, the United States Congress enacted ESIGN in 2000 (Electronic Signatures in Global and National Commerce Act, 15 U.S.C. §§ 7001 - 7006, (2012)).  The same changes caused the TĂŒrkiye BĂŒyĂŒk Millet Meclisi (Turkish Parliament) to enact the 'Elektronik Ä°mza Kanunu' (Electronic Signatures Law - EIK) in 2004.  SeeElektronik Ä°mza Kanunu, Law No: 5070, Published in the Official Gazette on 14 Oct. 2004, No. 253551, adopted 15 Jan. 2004.

Employment Contract Types & Terms and Conditions Permitted by Law

August 2011 - Employment. Legal Developments by ADMD Law Office .

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Employment Contract Types & Terms and Conditions Permitted by Law

By Lina Simonyte
ADMD Law Office, Istanbul TURKEY

ADOPTION OF CHILDREN IN TURKEY

July 2011 - Tax & Private Client. Legal Developments by ADMD Law Office .

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By Ä°layda Balkan

Adoption subject is regulated between the Articles 305-320 of the Turkish Civil Code dated November 22, 2001 (TCC) and the statute titled 'Execution of Interventions Regarding Adoption’ based on Council of Ministers Decision No. 2009/14729 (Adoption Statute). 

HEALTH-CARE SERVICES FOR FOREIGNERS IN TURKEY

January 2011 - Finance. Legal Developments by ADMD Law Office .

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The main purpose of this brief information note is to indicate the regulations of healthcare services and health insurances available for foreigners in Turkey.

Energy Regulations in Bulgaria and Turkey; a Comparative Study

November 2010 - Projects, Energy & Natural Resources. Legal Developments by ADMD Law Office .

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After Bulgaria became a member of the European Union at 2007, EU acquis became part of Bulgarian domestic law and although Turkey is not a member to EU, accession process as a candidate country covers legal compatibility therefore making both these jurisdictions closer to each other, however, still not fully compatible.

Acquisition of Real Estate by Foreign Investment in Turkey

November 2010 - Real Estate & Property. Legal Developments by ADMD Law Office .

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Legislation regarding purchasing of real estate in Turkey by foreign investments have changed many times over the past years. Supreme Court decisions, international or political developments and economic necessities are some of the pushing factors of such amendments.

Combating Against the Financing of Terrorism in Turkey*

November 2010 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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By means and tools of the global information age, terrorist organizations are broadening their reach in gathering financial resources to fund their operations.

WORK - RESIDENCE PERMITS AND IMMIGRATION IN TURKEY

September 2010 - Employment. Legal Developments by ADMD Law Office .

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The main purpose of this brief information note is to discuss the issue of work and residence permits required for foreigners in order to reside and work in Turkey along with some information regarding permanent immigration regulations.

TURKEY – EU ACCESSION NEGOTIATONS OPENING OF NEW CHAPTERS AND THEIR IMPLICATIONS

September 2010 - EU & Competition. Legal Developments by ADMD Law Office .

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On June 30th, 2010, a new chapter of the accession negotiations between the European Union and Turkey was opened, on the very last day of the Spanish presidency.

TERMINATION OF AN EMPLOYMENT CONTRACTS AND EMPLOYEE REINSTATEMENT MECHANISM

September 2010 - Employment. Legal Developments by ADMD Law Office .

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Termination of employees, employee reinstatement claims and procedure under Turkish Labor Law will be summarized in this brief information note.

LIQUIDATION OF CAPITAL COMPANIES

September 2010 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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There are different types of commercial companies that are available to establish by investors in Turkey in accordance with the Turkish Commercial Code (TCC).

PURCHASE OF REAL ESTATE BY FOREIGNERS IN TURKEY

September 2010 - Real Estate & Property. Legal Developments by ADMD Law Office .

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In the past decade purchasing property in Turkey became very popular through holiday home owners and investors worldwide. The first time that it was permitted to foreign buyers to purchase real estate in Turkey was in the year of 1934 with the Property Act. At the present day the real estate market in Turkey is developing and becoming one of the prominent markets among the Mediterranean countries. The main purpose of this brief article is to explore the legal structure and the procedure of purchasing real estate in Turkey for foreigner. 

MAJOR PRINCIPLES OF SURETYSHIP IN THE TURKISH LEGAL SYSTEM

May 2010 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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Suretyship is a kind of security commonly used in business transactions in order to protect creditors from damages providing that debtor fails to fulfill obligations. It is a unilateral contract by which the surety undertakes the obligation of the debtor for the payment of the debt. According to Turkish law, suretyship contracts are subject to the provisions set out in Articles 483-504 of the Turkish Code of Obligations (“TCO”).

THE ENFORCEMENT PROCEDURE OF ARBITRAL AWARDS IN TURKEY

November 2009 - Litigation & Dispute Resolution. Legal Developments by ADMD Law Office .

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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.

Development of E-Commerce Legislation and Taxation of Revenues from Online Content in Turkey

September 2009 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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Activities such as production, presentation, sales, insurance, distribution, and payment of goods and services are possible via computer networks with e-commerce. E-Commerce presents major physical differences from conventional commerce, and therefore many arguments have been raised regarding the problems of regulating and taxing e-commerce under the old commercial and tax regimes applicable.

Turkish Free Trade Zones: Information for Potential Investors

July 2009 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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The free trade zones (FTZ’s) of Turkey allow investors to access a broad range of markets, participate in international business, and avoid the impediment of customs and legal restrictions on trade. They are geopolitically part of Turkey, but retain special status as sites beyond the custom borders and the Turkish laws that govern tax, duties, levies and foreign currencies. As small enclaves “abroad,” free trade zones allow foreign companies to participate in all areas of business that private Turkish companies do.

Medical Malpractice:Critique of the Turkish and American Approaches to Awarding Non-Economic Damages

June 2009 - Litigation & Dispute Resolution. Legal Developments by ADMD Law Office .

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When a doctor makes an error in your treatment, what legal compensation will be available? This is the central question in current medical malpractice litigation, one that is not easily answerable and that depends largely on the country in which you live. In the United States the past several decades have seen a rise in the number of medical malpractice suits, and escalating insurance premiums for healthcare providers amidst continued reports of medical error. In recent years the increase in medical malpractice litigation has been coupled with larger non-economic damage awards, reflecting concerns with maintaining quality care and holding healthcare professionals to acceptable standards of conduct. At the same time, such high awards have led state legislatures nationwide to respond with statutory limits on punitive and non-economic medical malpractice damages, in part due to concern that the risk of prohibitive legal expenses will drive competent, needed doctors out of the profession.

Prison Sentences for Monetary Debts in Turkey

September 2008 - Litigation & Dispute Resolution. Legal Developments by ADMD Law Office .

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According to Article 38 of the Turkish Constitution (TC) “No one shall be punished for any act, which does not constitute a criminal offence under the law in force at the time committed; no one shall be given a heavier penalty for an offence other than the penalty applicable at the time when the offence was committed.” In addition, a new clause has been added to 38th Article with the amendment No.4709 dated October 3, 2001. As per this clause “No one shall be deprived of his liberty merely on the ground of inability to fulfill a contractual obligation.”

Past and Present Difficulties in Turkish Competition Policy

September 2008 - EU & Competition. Legal Developments by ADMD Law Office .

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At the Helsinki European Council in December 1999, the Republic of Turkey was officially recognized as an accession candidate country to join the European Union. Negotiations pertaining to accession talks include Turkey’s competition policy. The 2005 accession talks in Brussels required Turkey to align itself with the European Union Legislation.

Overtime and Overtime Wage in Turkish Labor Code (TLC)

September 2008 - Employment. Legal Developments by ADMD Law Office .

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European Union Directive No.104 is accepted and enforced by European Union Council in 23.11.1993 furnished a flexibility to work hours and this flexibility is supported with the codes accordingly. Turkey which is in the process of entering to European Union has made some important changes and accommodated to innovations in Labor Law in order to adapt EU’s standards and updates. During Turkey’s adaptation process, overtime which is a fundamental part of Labor Law has also been subject to mentioned changes and innovations. The provisions regarding overtime and overtime wage of Turkish Labor Code No.4857 which is arranged in compliance with European Union Directive No.93/104, dated May 22, 2003, and published at the Official Gazette June 10, 2003 will be examined below

New Condominium Law and Building Management Plans

September 2008 - Litigation & Dispute Resolution. Legal Developments by ADMD Law Office .

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As the real estate market develops in Turkey the Condominium Law is becoming the center of attention. Turkish Parliament amended the Condominium Law No. 634 with a new Law No. 5711 and it was published in the Official Gazette at November 28, 2007 (‘Turkish Condominium Law’ or ‘TLC’).

Individual or Corporate Lending Contracts

September 2008 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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Apart from loan contracts designated for financial entities, Articles 306 – 312 of the Turkish Code of Obligations (TCO) define money lending contracts (individual loan contracts). Although seemingly unpopular, the contract type for money lending becomes center of attention for shareholder and inter-company loans since that is their only legal ground when inspected thoroughly.

Group Exemptions of Vertical Agreements in Turkish Law

September 2008 - Corporate & Commercial. Legal Developments by ADMD Law Office .

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Competition (anti-trust) law was first established with Law No. 4054 titled ‘The Law on the Protection of Competition’ in Turkey. The fourth article of such law titled “Agreements, Concerted Practices and Decisions Limiting Competition” sets different types of principles for purpose.

A Brief Q&A for Framework Agreements among Individuals and Brokerage Companies

September 2008 - Finance. Legal Developments by ADMD Law Office .

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Quick and mass trading in securities and other instruments of the capital market requires a special regulation concerning the organization of the market, intermediation in transactions as well as facilitating the investment decision making process. With the new regulations on Capital Markets Law several amendments were made by the communiqués, regarding the principles on intermediary activities and intermediary institutions.

Executing & Terminating Employment Contracts in Turkey

September 2008 - Employment. Legal Developments by ADMD Law Office .

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As Turkey maintains economic stability and growth for almost five years, the confidence of the foreign investors raised and new direct investments are executed more often. In this context employee related issues are of consideration to foreign investors and significance of the Turkish Labor Code (‘TLC’) elevate accordingly. Therefore we would like to briefly inform foreign investors regarding the precautions that shall be thought over while hiring and firing employees in Turkey.

Securitization of Financing for Wind Turbines in Turkey

September 2008 - Finance. Legal Developments by ADMD Law Office .

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As demand for energy increases in Turkey, investments in this sector is boosting with the help of the government. Incentives focus on renewable energy resources for obvious efficiency and environmental considerations and specifically wind energy investments had been very popular due to vast resources of Turkish geography. Therefore the government is trying to optimize financing conditions to attract more investment in the field.