Soltysinski Kawecki & Szlezak, Mar 14: As announced, the Act on assistance to Ukrainian citizens regarding the armed conflict on the territory of Ukraine was enacted on Saturday. The legislation is effective retroactively as of 24 February 2022. Below is a summary of the changes introduced by the Act.
What Would A User Generated Content Platform Provider Need To Know When Entering Turkish Market?
From promoting a new brand to preserving the market presence of an already established one, User Generated Content (“UGC”) has become an uncanny tool to initiate and preserve consumer engagement. With that, social network providers have transformed from mere conduits of social interaction between individuals, to multifaceted platforms that enable businesses to reach their consumers. As UGC became more and more mainstream, pulled millions of users and created some of the biggest tech companies, many countries try to catch up with regulations such as Turkey.
Humanitarian and Assistance Measures in the Context of the Military Conflict on the Territory of Ukraine
Emergency Ordinance No. 20/2022 for amending and supplementing certain normative acts, as well as for regulating humanitarian and assistance measures (“GEO 20/2022”) was published in the Official Gazette No. 231/2022.
WKB: Special Law on Support for Ukrainian Citizens
WKB, Mar 16, 2022: Ukrainian citizens and certain categories of third-country nationals and stateless persons have been granted temporary protection under Council Implementing Decision (EU) 2022/382 of 4 March 2022. Working on the foundations of this temporary protection and in order to implement the Council’s decision, Poland has adopted the Act of 12 March 2022 on support for citizens of Ukraine in connection with the armed conflict in the territory of the said country (the “Special Law”). The Special Law grants Ukrainian citizens a longer period of legal stay in Poland, simplifying procedures related to their employment, decentralizing the registration of Ukrainian citizens and assigning them a Polish national identification number (PESEL), as well as giving access to medical care and many financial benefits, including parental benefits.
Romania Establishes Measures of Humanitarian Support and Assistance for Displaced People From Ukraine
Against the backdrop of Russia’s armed invasion of Ukraine, the Council of the European Union has issued Decision no. 382/2022, which establishes the existence of a mass influx of displaced persons from Ukraine and introduces temporary protection. This Decision was published in the Official Journal of European Union on March 4, 2022.
The EU Sanctions Against Russia: Impact on the Business of Companies in the Republic of Croatia
The Russian Federation invasion of the Republic of Ukraine and the consequent economic response from the West has led to negative effects in the business of companies based in the Republic of Croatia.
Significant Amendments in the Communiqué on Competition Authority’s Approval in M&A Transactions
Significant amendments were introduced to the Communiqué of the Competition Authority on Mergers and Acquisitions Requiring Authorization of the Turkish Competition Board, numbered 2010/4, with the Communiqué published in the Official Gazette on March 4, 2022. In this respect, while the turnover thresholds taken into account in mergers and acquisitions to determine whether Competition Board’s approval is necessary are increased, exceptional rules are adopted in relation to transactions involving technology companies. These amendments will become effective two months after their publication, i.e., as of May 4, 2022.
Publishing of Personal Data in Media – When It Shall Not Be Held a Privacy Violation?
Acting on the filed request for establishing of the violation of right to personal data protection, the Croatian data protection authority (“Authority”) passed on December 30, 2021, a decision pursuant to which publishing of personal data shall not be held violation of the right to protection thereof provided that it is made for the public interest.
Analysis on the Scope of Sectors Where Concentrations Will Almost Categorically Be Notifiable in Turkey After 4 May 2022 Under The New Regime
As announced last week, the Turkish Competition Authority has recently amended the legislation relating to the Turkish merger control regime through an amendment communiqué. This piece of additional analysis is to explore the scope of sectors that will be exempt from certain local turnover thresholds, and therefore the concentrations in which will be notifiable in Turkey regardless of magnitude of Turkish operations.
Turkish Capital Markets Board Approved and Published the Green Debt Instrument and Green Lease Certificate Guidelines
In November 2021, the Green Debt Instrument and the Green Lease Certificate Guidelines Draft [the “Draft Guide”] was submitted to the public opinion. The draft was approved and published with the Principal Decision of the Turkey’s Capital Markets Board [“CMB”] dated February 24, 2022 and numbered 10/296, with some revisions made as per the comments by the market actors.
Serbian Banks: Managers Caught in a Pincer Movement
On 3 March 2022, Serbian banks received a letter from the National Bank of Serbia stating that Serbia did not implement sanctions against the Russian Federation and that the banks must continue to provide services to their clients who are in any way connected to the Russian Federation. The banks were told to do so without delay, in any case not later than 4 March 2022, and to report back on undertaken actions.
Sayenko Kharenko: Charity Fund "Breathe"
Sayenko Kharenko, Mar 10: We invite Ukrainian and international communities to help Ukraine in these difficult times. You can help through the Charitable Fund "Breathe", originally established by Sayenko Kharenko's partners to support hospitals during the COVID-19 pandemic.
The Impact of the Ukrainian Conflict on the Fulfillment of Contractual Obligations in International Trade
Ukrainian conflict has severe and far-reaching consequence on peoples lives.
Turkey: Dividend Right Certificates
Turkish Commercial Code No. 6102 (“TCC”) sets forth that in accordance with the articles of association or by changing the articles of association, general assembly of shareholders of a joint stock company may decide to issue dividend right certificates in favor of the owners, creditors or those related to the company for a similar reason. In this article, we will focus on the purpose and types of dividend right certificates within the framework of Article 348, 502 and 503 of the TCC.
Russia's Invasion of Ukraine, Its Impact on Gas Supplies Procured by Austrian Manufacturing Companies and Force Majeure
Russia’s invasion of Ukraine represents one of the worst security crises in Europe. It is also expected to have far-reaching implications for the global economy, particularly given Russia’s role as the world’s second-largest producer of natural gas. Sanctions will mean higher energy prices in Europe.
Turkish Law of Inheritance Series V.: Opening of the Will, Succession and Legal Remedies in Cases of Intervention to Inheritance Share
Succession is essentially the passing of the legator's personal assets during their lifetime to the estate, subject to joint ownership upon the legator’s death, and then to individual heirs. Prior to the death of the legator, the legator preserves all of their property rights, while the future heirs do not attain heirdom, let alone any rights on legator’s property. The titles of legator and heir are gained only upon the death of a person, and from then on, the heirs are entitled to the inheritance. For this reason, the most contentious aspects of inheritance law are succession, which is the transfer of the inheritance and possible interventions to the heirs’ inheritance shares.
„Do-not-call“ Registry – What Data Protection Does It Provide in Practice?
The Croatian data protection authority has recently passed a decision establishing the violation of the right to personal data protection in terms of the articles 5, 6 and 14 of the General Data Protection Regulation of EU 2016/679 (“GDPR”), due to a phone call made to the number listed in “Do-not-call” registry.
Rules of Information Exchange Revisited by Turkish Competition Board in Retail and Wholesale FMCG Sector: A Step Forward for Hub & Spoke Case Law
On January 19, 2022, Turkish Competition Authority (“Authority”) has published a highly anticipated decision of the Competition Board (“Board”) regarding the investigation against retail grocery chains and suppliers of such chains, active in the fields of retail food and cleaning products (“Investigation”). The Investigation involved leading global suppliers of food and cleaning products such as Henkel, Unilever, Nestle, Johnson & Johnson, Procter & Gamble and Nivea as well as almost all retailers active in fast moving consumer goods (“FMCG”) business in Turkey including but not limited to the major players such as BİM Birleşik Mağazalar A.Ş. (“BİM”), CarrefourSA Carrefour Sabancı Ticaret Merkezi A.Ş. (“Carrefour”), Migros Ticaret A.Ş. (“Migros”) and Yeni Mağazacılık A.Ş. (“A101”).