Baker McKenzie Turkish affiliate Esin Attorney Partnership has advised Groupama Assurances Mutuelles on the sale of Groupama Investment Bosphorus Holding to AXA Mediterranean Holding. Gide Turkish affiliate Ozdirekcan Dundar Senocak advised the buyer.
Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised Vgames and 500 Emerging Europe on their participation in Frantic Games’ USD 2.4 million investment round that also included Golden Square I. Kumkumoglu Ergun Cin Ozdogan advised Frantic Games.
April 2023 – On 12 April 2023, the Turkish Competition Authority (“Authority”) announced that it initiated a sector inquiry into mobile ecosystems. The sector inquiry aims to identify the possible competitive and anti-competitive effects caused by mobile ecosystems, develop effective policies based on them, and ultimately establish a competitive market in the digital economy.
Seven Kinstellar lawyers have been promoted to Partner: Bratislava-based Tomas Melisek, Budapest-based Levente Hegedus, Istanbul-based Bulut Girgin, and Kyiv-based Anastasiya Bolkhovitinova, Natalia Kirichenko, Oleg Matiusha, and Illya Muchnyk.
Start-up, which was first introduced in Silicon Valley in the US, has started to be more and more involved in our lives with the globalizing world. The main purpose of start-up companies, which are rapidly increasing in number today, is to produce solutions to a specific situation or problem and provide their solutions to people in a short time. They aim to develop rapidly and become one of the most popular companies with these solutions that appeal to a wide audience. While they are mostly focused on software and technology, there are also start-up companies operating in different fields such as banking and finance.
Erdem & Erdem has advised Sisecam on its acquisition of EBRD's stake in Sisecam Environmental Systems. Kinstellar Turkish affiliate Gen & Temizer Ozer advised the EBRD.
Law No. 7451 on the Amendment of the Law on Organized Industrial Zones and Certain Laws (“Law No. 7451“), published in the Official Gazette dated 10 April 2023 and numbered 32159, introduced significant amendments to energy legislation, and the Law on Organized Industrial Zones and entered into force on the same date.
After the Central Bank of the Republic of Turkey announced that it will complete the first CBDC tests at the end of 2022, it was announced that the blockchain-based digital identity application would be implemented in the “Digital Turkey 2023 First Meeting” held under the chairmanship of Vice President Fuat Oktay at the Presidential Complex in the first days of 2023. With the login system that will work within the scope of the e-wallet application, it will be possible to log in to the e-Government with digital identities created in the blockchain network.
The 12th Civil Chamber of the Court of Cassation ruled with its decision numbered 2022/9954 (E. 2022/6460) and dated October 6, 2022 (the “Decision”) that the prohibition on determining a contract value in foreign currency or indexed to foreign currency which introduced by the Decree No. 32 on the Protection of the Value of Turkish Currency ("Decree No. 32") concerns public order and must be taken into account by the judge ex officio (automatically) even if it is not raised by the parties during the proceedings.
Following the 7.8. and 7.5. magnitude earthquakes occurred in Kahramanmaraş on 06.02.2023, the Presidential Decree on the declaration of the State of Emergency for 3 months in the cities affected by the earthquakes was adopted by the Turkish Grand National Assembly on 09.02.2023 and was published in the Official Gazette No. 32100 dated 10.02.2023. A number of measures concerning work and social security field were also envisaged in the scope of the State of Emergency.