Former Pekin & Pekin Senior Partner Yalcin Ozge Okat has established OkatLaw in Istanbul.

Corporate governance principles are set of rules and practices introduced as preventive measures pursuant to corruptions and bankruptcies of publicly held companies occurred in 1980s, for protection of companies, shareholders and stakeholders and to avoid conflicts of interest. Under Turkish approach, the managing body, i.e. board of directors, is regarded as the pillar of corporate governance given that the problems relate to the management of the companies. Therefore, the principles are focused on the board of directors.

In recent years, the growing concern that employers’ market power in labor markets has led to reduced or suppressed wages and working conditions has heated up the discussions on the competition authorities’ potential interference over competition violations within labor markets. These discussions have not remained theoretical and the competition authorities have started to launch investigations into labor markets. The Turkish Competition Authority (TCA) has kept pace with this global trend. On April 20, 2021, the TCA announced on its official website that it has ex officio launched a full-fledged investigation against 32 companies, mainly active in digital markets, to determine whether they violated the Law on the Protection of Competition through gentlemen’s agreements in labor markets in Turkey.

Paksoy has advised Agence Francaise de Developpement on a EUR 125 million credit facility agreement with Izmir Metropolitan Municipality for the financing of the Izmir Buca Metro project.

BTS & Partners has advised 500 Global Istanbul on its USD 1 million pre-seed investment in Datapad.

White & Case has completed a new round of firm-wide promotions, appointing 28 Local Partners and 40 Counsels. Among these were new Local Partners Jakub Gubanski, Aleksandra Oziemska, Bartosz Smardzewski, and Pawel Zagorski in Warsaw, Gokce Uluc in Istanbul, and Marianna Galusova in Prague.

Paksoy has advised Turkish industrial textile company Isbir Sentetik Dokuma Sanayi on its TRY 368 million initial public offering and listing on Borsa Istanbul.

Under Turkish law, data controllers must be registered with the so-called “VERBIS” registration system before processing any personal data. The Turkish Personal Data Protection Authority announced December 31, 2021 as the final deadline for fulling this registration obligation pursuant to the Personal Data Protection Law No. 6698 and the Regulation on Data Controllers Registry. The deadline is fast approaching.

BTS & Partners has advised venture fund Revo Capital on its investment in e-commerce platform Ikas.

Ilke Ozun Deniz has joined KPMG Turkiye as its Legal Affairs and Compliance Manager in Istanbul.

GKC Partners has advised Zynga subsidiary Rollic Games on its acquisition of Turkish mobile game studios Creasaur Entertainment, Zerosum Games, and Forgerhero. Ilker & Colak advised Forgerhero on the deal. Tevetoglu and the Juris Law Firm reportedly advised Zerosum and Creasaur, respectively.

E-Hearing System is a system that enables participation in hearings held in civil courts  remotely. In this regard, the fundamental rules on this new system, which saves time and labor both for lawyers and other relevant persons while facilitating access to justice services, were previously elaborated in one of our articles. In a relatively short time after the promulgation of the Regulation on the Conduct of Hearings by Audio and Video Transmission in Civil Procedures [“Regulation”] which sets the e-Hearing procedures and principles in the Official Gazette dated June 30, 2021 e-Hearings have become widespread rapidly.

The legator has the authority to freely dispose of their assets in their lifetime. However, Turkish Civil Code secures the inheritance rights of some heirs and protects the inheritance shares at certain rates. Heirs whose inheritance rights are protected are defined as “heirs with statutory entitlement” in the Turkish Civil Code.

Akol has advised the founding shareholders of Ekol Ofset on the sale of a 75.01% controlling stake in the company to Romvan.

Ozbek Attorney Partnership has promoted former Managing Associate Gulsah Gokce to Partner as of November 1, 2021.

Former Ipek | Akbal Schwimann Partner Ceyda Akbal Schwimann has joined Akol Law's dispute resolution practice as a Partner.

Erdem & Erdem has advised Yildirim Group’s subsidiary Qazaq Soda in the tender and construction proceedings for the establishment of a sodium carbonate factory in Kazakhstan.

Contributed by Nazali Tax & Legal.