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Newsletter 2017

Newsletter 2017

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We are honored to bring to you our new book "Newsletter 2016". Since 2010, at the end of each year we compiled the articles that are posted monthly on our website in a book to allow our readers an outlook on the year's key legal developments. This book of articles now published for the seventh year, has attracted growing attention from our clients, business partners and fellow practitioners over the years. While the book was well received by many of the readers, we are highly encouraged to keep the impetus and further develop and expand our work. It is a pleasure to see that the articles are frequently cited in a number of scientific studies and they are now considered reliable academic resources. This gives us pride and even greater motivation. We continued the tradition of the past years for this publication of Newsletter 2016. In 2016, our team wrote on a wide variety of legal disciplines some of which are in new areas of law developed in parallel to meet the needs of the today's business. Further we did not leave out the importance of comparative law and our team researched on the developments in foreign legislations including the European Union. In this seventh book, you will find articles on corporate law issues implementation of which we intend to shed some light on such as abuse of exercise of dominant position in joint stock companies, the concept of "important reason" in share transfer restrictions and the right to request information of the board directors. The increase in Public-Private Partnerships (PPPs) in the recent years inspired us to write about our considerable experience both in Turkey and a recent PPP in Ecuador where we acted as advisors from a comparative law perspective. Our team wrote extensively on the much discussed contemporary issues in competition law this year such as the cinema services sector report, passing-on defense and indirect purchaser rule in compensation claims, and price/margin squeezing and decisions of the Turkish Competition Board on the Association of Electricity Distribution System Operators (Elder) and Yemek Sepeti, an online food takeaway company. As a GAR100 listed law firm with a proven track record in international arbitration, it was inevitable for us to write on the landmark decision of Swiss Supreme Court for stay of the arbitration pending compliance with multi-tiered arbitration clause. In 2016, we witnessed a lot of amendments introduced to arbitration rules. Therefore our arbitration team enjoyed writing on Istanbul Arbitration Center (ISTAC) Rules, ICC Rules on expedited procedure and document production requests under the IBA Rules. In energy law, we particularly focused on writing a series of articles on the legislative amendments made in the licensed and unlicensed energy generation facilities and renewables. As customary over the years, we wrote on contemporary issues in capital markets, contract law (law of obligations), labor law and affairs, intellectual property, civil law and bankruptcy and collection litigation as well as tax law. The chapter on Legal Developments provides a global insight into material developments in international agreements, laws, regulations, communiques as well as a synopsis of the decisions of the Turkish Competition Board and the Privatization Authority, and a list of energy legislation made effective in 2016 and extracts of key court precedence. We believe that this last chapter portrays an executive look on legal developments of 2016.(ÖNSÖZDEN)





Consequences of Non-Attainment of Guaranteed Minimum Order in Agency and Distribution Contracts

Escrow Agreement in Turkish Law and Its Application in Mergers & Acquisitions

Transfer of Assets in Company Spin-offs

Unlawful Exercise of Dominance

Cross Shareholding in Group of Companies

Important Principles regarding Dividends in Joint Stock Companies

Lifting the Corporate Veil: An Exceptional Concept of the Shareholders' Limited Liability Principle

Options and Similiar Rights of Shareholders in respect of the Shares of Joint Stock Companies

Non-Compete Clauses in Share Transfer Agreements Review of the Court of Cassation's Decision

Important Reason in Terms of Share Transfer Restrictions

Indemnity Clauses under Share Purchase Agreements

Right to Request Information and Examination of the Members of the Board of Directors

Single Shareholder Joint Stock Companies

Share Transfers in Limited Liability Companies

Latest Amendments to the Turkish Commercial Code and the Law on Cheques



Healthcare PPP Projects: Funders' Direct Agreements

Healthcare PPP Projects: Payment Capacity of the Ministry of Health

A Brief Comparison between Ecuadorian and Turkish Public-Private Partnership Arrangements



Cinema Services Sector Report of the Competition Authority

Passing-On Defense and Indirect Purchaser Rule in Compensation Claims Arising from Competition Law

Price/Margin Squeeze

Recent Problems in Electricity Distribution Sector: ELDER Decision

Confidentiality of Written Communications between Lawyer and Client In Accordance With Dow Decision

European Commission Preliminary Report on the E-commerce Sector Inquiry

Footsteps of "MFN" Practice in Turkey: Yemek Sepeti Decision

State Aid in Turkish Competition Law

Tüpraş Decision and the Rebate Systems



Swiss Supreme Court Decided Stay of the Arbitration Pending Compliance with Multi-tiered Clause

Istanbul Arbitration Center Rules of Arbitration

ICC Rules on Expedited Procedure

Soft Law in International Arbitration

Document Production Requests in International Arbitration and Due Process Concerns

Document Production Requests pursuant to IBA Rules on the Taking of Evidence in International Arbitration-I

Document Production Requests pursuant to IBA Rules on the Taking of Evidence in International Arbitration-II

Promoting Settlement in International Arbitration

Expert Witnesses in International Commercial Arbitration

Consent to Arbitrate in Investment Arbitration

The Recent Philip Morris v. Uruguay Decision



Share Buy-Back by Listed Corporations

Financial Reporting Principles of Mutual Funds

Recent Developments Regarding Alternative Investment Funds in Europe



Legal Liability of Banks as Trustworthy Institutions

Organizational Liability Added to Art. 66 of the Turkish Code of Obligations Regarding Employer's Liability

Can Errors in Predicting Future Facts Be Considered Fundamental Errors?

Contractual Penalty under Turkish Law

The Code on Movable Pledges and Its Innovations

Financial Sale and Lease Back

The Obligation of Lessee to Return or to Purchase the Leased Property under the Financial Lease Agreements



Proposed Exposure Draft to Amend the Regulation on Unlicensed Electricity Generation

Significant Amendments to the Unlicensed Electricity Generation Regulation

Key Points Regarding the Regulation on Certification and Support of Renewable Energy Resources

Key Points Regarding the Draft Regulation on Renewable Energy Resource Areas

Regulation on Renewable Energy Resource Areas Entered into Force



New International Workforce Law and New Horizons for Foreign Employment in Turkey

Draft Law Regarding Temporary Employment Relationship and Private Employment Agencies

Amendments to the Labor Law Introduced by Law Numbered 6663

Workplace Practices

Draft Law on Labor Courts

Entitlement to Overtime Payment



Prevention of Intellectual Property Rights Infringements through the Internet

Industrial Property Law Bill



Establishment, Structure and Functioning of Regional Courts of Appeal

Challenging Decisions of the Regional Courts of Appeal

Recent Decision of the Court of Cassation on the Forfeiture of the Right to Submit Evidence When the Respondent Fails to Submit its Statement of Reply

Concordat as an Alternative to Suspension of Bankruptcy



Dismissal of Tax Penalties

Information Exchange under Turkish Tax Law

Latest Amendments to the Stamp Tax Law



Personal Data Protection under Turkish and European 


UEFA Financial Fair Play Regulations

Termination of Subscription Agreements



Important International Agreements

Important Council of Ministers Resolutions

The Grand National Assembly of Turkey Decisions

Important Changes and Developments in Laws

Important Changes and Developments in Regulations

Important Changes and Developments in Communiques

Important Changes and Developments in General Communiques

Important Changes and Developments

Important Legislation and Decisions regarding Competition

Important Legislation and Decisions regarding Mergers and Acquisitions

Important Publications and Decisions regarding Privatization

Important Changes and Development regarding Energy Law

Important Case Law and Other Important Decisions