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  • 20 Nov 2018Turkey

    The Ministry of Treasury and Finance Releases Details and Exemptions Regarding the Denomination of Agreements in Foreign Currency, LNB News 11/10/2018 8, Turkey Prohibits Prices in Certain Agreements from Being Denominated in Foreign Currency, LNB News 05/10/2018 10

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  • 24 Oct 2018Turkey

    As mentioned in our previous client alerts, the Regulation on the Registry of Data Controllers (the Registry Regulation) was published in the Official Gazette on 30 December 2017 and entered into force on 1 January 2018 pursuant to the Law on the Protection of Personal Data No. 6698 (the Data Protection Law).

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  • 24 Oct 2018Turkey

    The business community’s original idea of arbitration was to solve commercial disputes smoother and faster than the conventional courts could. Back in those days, arbitration was, by definition, fast.

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  • 05 Oct 2018Turkey

    The Communique Amending the Communique on Procedures and Principles Regarding the Issuing of Building Registration Certificates (Communique) was published in the Official Gazette on 20 September 2018, entering into force on the same day and bringing to an end many questions about the practice commonly known as Zoning Forbearance, especially regarding commercial real estate and removing many obstacles previously standing in the way of applications.

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  • 05 Oct 2018Turkey

    The Presidential Executive Decree No. 85 dated 12 September 2018, amending the Decree No. 32 on the Protection of the Turkish Currency purports to prohibit private or public residents in Turkey from agreeing in their payment obligations in or indexed to foreign currencies in private law contracts between them or in contracts emanating payment obligations for and in relation to the sale and purchase of movable and immovable, all kinds of lease and rentals of movables or immovable including vehicle leases and financial leases, employment, service and commissioning of works, except in circumstances determined by the Treasury and Finance Ministry.

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  • 05 Oct 2018Turkey

    The Communique on the Procedures and Principles Governing the Enforcement of Article 376 of the Turkish Commercial Code numbered 6102 (Communique), which concerns Article 376 of the Turkish Commercial Code (Code) regulating the share capital loss and technical insolvency of companies, entered into force on publication in the Official Gazette on 15 September 2018. The recently promulgated Communique aims to provide concrete guidelines to be followed by companies which are experiencing serious financial troubles. The Communique establishes the details of the measures to be taken when the assets of joint-stock companies, limited liability companies and partnerships divided into shares are not sufficient to cover their liabilities, or when they face technical insolvency. The Communique follows the structure of the Code, in that it provides different measures for the loss of half and two-thirds of the share capital and legal reserves and for technical insolvency.

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