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 Advises Shareholders of Ekol Ofset on Sale to Romvan
Akol has advised the founding shareholders of Ekol Ofset on the sale of a 75.01% controlling stake in the company to Romvan.
Gulsah Gokce Makes Partner at Ozbek Attorney Partnership
Ozbek Attorney Partnership has promoted former Managing Associate Gulsah Gokce to Partner as of November 1, 2021.
Ceyda Akbal Schwimann Joins Akol Law's Dispute Resolution Practice as Partner
Former Ipek | Akbal Schwimann Partner Ceyda Akbal Schwimann has joined Akol Law's dispute resolution practice as a Partner.
Erdem & Erdem Advises Yildirim Holding on Establishment of Kazakhstan Factory
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.
Competition and Competition Litigation Laws and Regulations in Turkey
Contributed by Nazali Tax & Legal.
Turkish Rules on Mandatory Tender Offer Have Been Amended Substantially
The new Communiqué amending the Capital Market Board’s [“CMB”] Communiqué on Tender Offers No. II-26.1 [“Amendment Communiqué”] entered into force upon its publication in the Official Gazette dated October 16, 2021.
Employee Stock Option Plans under Turkish Law
Over the last decade, granting employees stock option rights for acquiring shares in the employer company has become a growing trend among companies operating in the technology sector, particularly in start-up companies. In this respect, companies favour "Employee Stock Option Plans" enabling employees to acquire a certain amount of shares in the company and conclude "Stock Option Agreements" with the employees for this purpose. In this article, the concept of stock options and various stock option plans will be discussed along with their implementation under Turkish law and in other jurisdictions.
Paksoy Advises PwC on Sale of Global Mobility Services Business
Paksoy, working with global counsel Linklaters, has advised PwC on the agreement to sell its Global Mobility Tax and Immigration Services business to US private equity group Clayton, Dubilier & Rice. Debevoise & Plimpton was global counsel to the buyer.
Paksoy Advises Anatolia Geneworks on IPO
Paksoy has advised Turkish biotechnology company Anatolia Geneworks on its TRY 516,9 million initial public offering.
Paksoy Advises on Gelecek Varlik’s IPO
Paksoy has advised on the initial public offering of Gelecek Varlik Yonetimi, an asset management company operating under the Fiba Group.
Turkey: Reorientation of Oil and Gas Sector Upstream Investments
All countries have had to deal with the intensifying effects of climate change in recent years. As a direct response, we are in the process of moving toward a low-carbon future. The Paris Agreement and the EU’s Green Deal have already urged all sectors to take measures to reduce carbon emission levels, and the energy transition movement is rapidly growing. COVID-19 has also hastened this global movement.
Turunc Advises HiVC on Secondary Capital Raise
Turunc has advised Turkish venture capital fund HiVC on its secondary capital raise.
A New Era in Environment and Climate Policies: Turkey is Now a Party to the Paris Climate Agreement
The Turkish Government, in its statement at the United Nations General Assembly, had given signals beforehand that it would submit the Paris Climate Agreement [“Paris Agreement” or “Agreement”], for parliamentary approval which it signed on April 22, 2016. Following his statement, the Agreement entered into force with the Law on Approval of the Paris Agreement and the Presidential Decision, both published on the same day, on 7.10.2021 in the Official Gazette. Please see our previous article about the content and purpose of the Paris Agreement.
Paksoy and Herguner Bilgen Ozeke Advise on DW Reusables' Acquisition of Etap
Paksoy has advised DW Reusables on the acquisition of Turkish reusable transport packaging companies Etap Enjeksiyon from Ozgorkey Holding and Etap Dogan from Ozgorkey Holding and Daghan Unludogan. Herguner Bilgen Ozeke advised the sellers.
White & Case Announces Election of 59 New Partners
Istanbul-based Derin Altan and Ates Turnaoglu, Warsaw-based Marek Sawicki, and Prague-based Jan Stejskal, together with Paris-based Russian lawyer Olga Fedosova, have been appointed Partner at White & Case, as part of its global promotion round.
Turkish Law of Inheritance Series II.: Will, Testamentary Contract and Estate Planning
Distribution of assets sometimes leads to disputes between heirs and cause undesirable consequences. In this respect, many people prefer to decide how their estate will be distributed by making testamentary dispositions while they are still alive. Hence, in order to eliminate possible conflicts between heirs or for other reasons, individuals may choose to plan their estate prior to their death, based on personal wishes. Today, more people than ever prioritize estate planning.
Seyfi Can Kandemir Joins Morgan Lewis in London
Turkish lawyer Seyfi Can Kandemir has joined Morgan Lewis’ London office as Partner.