Corporate governance trends
1. What are the main recent corporate governance trends and reform proposals in your jurisdiction?
There are not any recent fundamental legislative changes constituting any corporate governance trends or reform proposals in Turkey.
However, a new system (called Central Registration System (MERSIS)) has been introduced and it has brought certain changes to the registration application procedures of corporate governance matters. The system aims to:
As per Article 20 of the Commencement of Execution Proceedings in Monetary Receivables Arising from Subscription Agreements Code, Article 5/A was incorporated into the Turkish Commercial Code on 1 January 2019. The article introduces mandatory mediation for claims involving commercial receivables. The new provisions do not apply to pending lawsuits before first-instance courts, regional civil courts or the Court of Cassation.
Applications for mediation must be finalised with...»
General context and principles
1 Identify the highest-profile corporate investigation under way in your country, describing and commenting on its most noteworthy aspects as it relates to your country
This year, a Ponzi scheme investigation was initiated against Ciftlik Bank, a digital game platform that collected more than 1 billion Turkish lira from around 132,000 users. The public prosecutor started an investigation into four of its companies, alleging the formation of orga...»
Mediation now mandatory for claims relating to commercial receivables
As civil suits falling under IP-related codes are considered as commercial actions, mediation is now mandatory for certain types of IP disputes
It is expected that mediation will become mandatory for other types of IP disputes
Discretionary mediation was first introduced into the Turkish legal system in 2013 by Law No 6325 on Mediation in Civil Disputes as one of the alternative dispute resolution methods...»
Among other things, privacy issues in mergers and acquisitions now attract the attention of transaction parties.
Privacy risks/issues in mergers and acquisitions used to be overlooked or underestimated. However, these days, conducting adequate due diligence on privacy issues and mitigating risks associated with a target’s privacy-related liabilities, as well as requesting privacy-related representations and warranties, are common in merger and acquisition transactions.
Use of arbitration and recent trends
1. How is commercial arbitration used and what are the recent trends?
Use of commercial arbitration and recent trends
Although arbitration is still underused in Turkey when compared to litigation, an upward trend in the use of commercial arbitration has been observed after Istanbul Arbitration Centre (ISTAC) started its operation in October 2015. The statistics show that the ISTAC received 6% of the total number of applications for arbitra...»
Although they are legally available, ex parte injunctions are quite rare in Turkish IP practice. The IP courts almost always reject requests for ex parte injunctions, preferring to evaluate the alleged infringement only after hearing both parties. However, in a recent case, the IP Court unexpectedly granted a request for an ex parte injunction, due to the urgent nature of the matter.
The request for an ex parte injunction was filed against a company in Argentina. The company ...»
Law Amending Some Laws and Decree-Laws Related to Health No 7151 entered into force on 15 November 2018
Under Article 24, tobacco goods produced in, or imported into, Turkey shall be offered for sale using plain and standardised packaging
Issues surrounding plain and standardised packaging to be addressed by Ministry of Agriculture and Forestry regulation
The control of tobacco consumption has been one of the top priorities of the Turkish government, and several measures ha...»
Apart from an economic slow-down, one can say that 2018 has been productive and looked promising for Turkey from a privacy perspective. We have seen considerable efforts and attempts from the data protection authority, as it has been active in meeting with the practitioners, academics, organizing trainings and seminars, and issuing new guidelines, and regulations. We have seen more data breach decisions rendered by the DPA and these shed a light to the practice and claims mad...»
I. Procedure of a real estate transaction
1. Could you give a short outline with regard to the formal procedure of a real estate transaction in your country starting from the signing of the purchase agreement (including the closing) until formal ownership vests in the purchaser?
In Turkey, the main laws that govern real estate are the Turkish Civil Code (“Civil Code”), Turkish Code of Obligations (“TCO”) and Land Registry Law (the “Land Law”).
The main stages and the required...»
Dicle Doğan and Fatma Sevde Tan, Gun + Partners
Article 10 of the Regulation on Promotional Activities of Medicinal Products for Human Use states that the Turkish Medicines and Medical Devices Agency shall issue a certificate of competence to the following individuals:
Graduates of universities that educate product promotion representatives, upon submission of their diploma to the agency.
Graduates from a school of higher education who have succeeded in a specified examinati...»
Mediation has become a must in commercial receivables actions and to this end some provisions of Turkish Commercial Code (“TCC”) and Code of Mediation in Civil Disputes have been amended within the scope of Code of Commencement of Execution Proceedings in Monetary Receivables Arising from Subscription Agreements (the “Code”) which became effective by being published in Official Gazette dated 19 December 2018 and numbered 30630. In this regard;
By incorporating Article 5/A in...»