ICC DECISION ON LIABILITY IN CASE OF PURSUING ACTION IN COURTS NOTWITHSTANDING A VALID ARBITRATION CLAUSE
In Turkey, parties of a dispute tend to resort to courts even if they have a valid arbitration clause for the respective dispute. In the Final Award in Case 8887 (“Case”), International Chamber of Commerce (“ICC”) ruled that the defendant Turkish company (“Defendant”), by pursuing an action in the Turkish Courts despite the existence of …
No Fine to the Competitors Having a Common WhatsApp Group: Turkish Competition Board’s Decision on the Red Meat Industry
On October 26, 2022, the Turkish Competition Board (“Board”) published its reasoned decision dated June 23, 2022 and numbered 22-28/443-180, upon its preliminary investigation initiated against six undertakings (i.e. Ahmet Tanrıbuyurdu, Emin Helal Et ve Gıda A.Ş., Göktaşlar Et-Et Ürünleri Yan San. ve Tic. Ltd. Şti, Namet Gıda Sanayi ve Ticaret A.Ş., Pınar Entegre ve …
Law No. 7418 on Amendment of Press Law and Certain Laws is Published
Law No. 7418 on Amendment of Press Law and Certain Laws (“Amendment Law”) is published in Official Gazette of October 18, 2022 and introduced significant amendments on certain laws including the Press Law No. 5187, the Turkish Criminal Code No. 5237 and the Law No. 5651 on the Regulation of Broadcasts via the Internet and …
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Contemporary Dynamics of Dawn Raiding Powers of the Turkish Competition Authority: Current Status of a Debate on Concealment of Evidence
This case summary includes an analysis of the Ankara 2nd Administrative Court’s (“the Court of First Instance”) Sahibinden SoE decision (E. 2022/254, 15.04.2022) in which the Court of First Instance stays of execution of the Board’s decision where the Board imposed an administrative monetary fine on Sahibinden for hindering and complicating the on-site inspection as …
Latest Developments in Turkish Data Protection Practice and Regulation
Recently, there have been certain significant developments regarding the data protection practice and some important guidelines have been published by the Turkish Personal Data Protection Authority. Below is an overview on the important points of the relevant developments.
Is the Turkish Competition Board Starting to Scrutinize Ancillary Restraints More Rigorously? – Vinmar/Arısan Transaction is Approved on the Condition that Scope of Non-Compete and Non-Solicit Obligations is Limited
This article aims to provide information regarding the ancillary restraints under Turkish Merger Control Regime and also analyses the Turkish Competition Board’s (“Board”) Vinmar/Arısan decision [1] which provides insight into the Board’s approach to assessing the scope of ancillary restraints in merger cases and foreshadows potentially stricter scrutiny over such restrictions. Even though the transaction …
Turkey: Registration of Commercial Enterprises Owned by Ordinary Partnerships
Under the Turkish Commercial Code, a commercial enterprise is defined as an enterprise, operating continuously and independently, aiming to generate income which exceeds the income thresholds stipulated for tradesman (“esnaf” in Turkish) enterprises.
Turkey: Website Requirements for Companies Subject to Independent Audit
Pursuant to Article 1524 of the Turkish Commercial Code (“TCC”) which was enacted in 2012, companies that are subject to independent audit are required to not only set up a website, which then will be registered to the trade registry and announced in the trade registry gazette, but also allocate a certain tab of their …
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Real Estate Sales Agreements: What Has Changed After the Significant Amendments in the Law No. 1512 on Public Notary
I. Introduction A real estate sales agreement is an agreement that is executed by and between the buyer and seller for the acquisition of real estate and is regulated under the Turkish Code of Obligations No. 6098 (“Law No. 6098”). By executing the real estate sales agreement, the seller promises to transfer the real estate …
Turkey: Shareholders’ Borrowing from the Joint Stock Company and Vice Versa
According to Turkish Commercial Code (“TCC”), some companies are defined as equity companies. Joint stock companies are one of these equity companies and are within the scope of “Principle of Maintenance of Share Capital” under TCC. The principle of maintenance of share capital requires full payment of the share capital value committed by the shareholders …
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