Transfer of shares to a third party may cause harm to the existing shareholders and create undesired consequences for them. For example, share transfer may result in the entry of an undesired third party into the entity as a shareholder. Therefore, shareholders may require strict measures to be taken for protecting the corporate structure of the entity, preventing the entry of undesired third party to the entity, preventing deadlock when reaching a decision, preventing the sale of company’s shares to its competitors, protecting the rights of the minority shareholders, etc.
BTS & Partners Advises Eczacibasi Momentum on Investment in Virasoft Software
BTS & Partners has advised Eczacibasi Group’s corporate venture capital arm Eczacibasi Momentum on its investment in Virasoft Software Inc. Bircan Law reportedly advised Virasoft on its Series A financing round.
Turkey’s Personal Data Authority Published its Announcement on Processing of PCR Test Results and Vaccination Information in Combatting Corona Virus
The Personal Data Protection Authority [“Authority”] has published a public announcement on September 28, 2021, with respect to the collection and processing of PCR test results and information regarding vaccination status being shared with third parties to mitigate potential health risks during pandemic.
PAE Advises on Sale of Epsilon Composite
Pelister Atayilmaz Enkur has advised the individual shareholders of Epsilon Composite Technologies and Defense Industry on the sale of a 51% stake in the company to Akkok Holding, ARD Holding, and NDC Holding. Herguner Bilgen Ozeke reportedly advised the buyers on the deal.
BTS & Partners Advises 500 Startups on Investment in Agave Games
BTS & Partners has advised 500 Startups in its investment in Agave Games.
Paksoy and Akol Advise on EBRD's Acquisition of Shares in Biotrend
Paksoy has advised the EBRD on the acquisition of 5.92% of the shares in Biotrend Cevre ve Enerji Yatirimlari from Doganlar Yatirim Holding for USD 20 million. Akol advised Doganlar on the deal.
BTS & Partners Advises Qnbeyond Ventures on Investment in Magnetiq
BTS & Partners has advised QNB Finansbank's venture capital operation Qnbeyond Ventures on its investment in digital marketing management platform Magnetiq.
BTS & Partners Advises Turkven on Merging Clonera and Pukta
BTS & Partners has advised Turkish private equity firm Turkven on merging IT companies Clonera and Pukta.
Dentons and Rymarz Zdort Advise on SPI International Majority Stake Sale to Canal+
Dentons has advised SPI International shareholders Loni Farhi and Berk Uziyel on the sale of a 70% stake in the company to Canal+. Rymarz Zdort advised the buyer.
Turkish Law of Inheritance Series I.: Right of Inheritance, Statutory Heirs, Testamentary Heirs and Beneficiaries
Following the death of a person, the fate of the wealth they created throughout their life, and how to ensure the continuity of this value is a common concern shared by many people. In Turkish law, these matters are regulated in the "Inheritance Law" book, which is the third book of the Turkish Civil Code No. 4721. In the first of our series of articles, in which we will examine the law of inheritance through various topics of interest, we will discuss the concept of inheritance and heirdom. In following articles, we will touch on the frequently asked questions regarding the law of inheritance.
Ekin Inal Joins IFC as Legal Counsel in Turkey
Former Inal Unver Attorney Partnership Partner Ekin Inal has joined the International Finance Corporation as a Legal Counsel in Turkey.
Cemal Araalan Joins Bezen & Partners as Partner
Former ARC Avukatlik Burosu Managing Partner Cemal Araalan has joined Bezen & Partners as a Partner and Head of Litigation.
Enforceability of Non-compete Agreements with Employees under Turkish Law
Employees may have access to important and confidential information related to the employer, including the company’s operations, clientele and trade secrets. Use of such information without employer’s knowledge may harm the legitimate interests of the employer. In this respect, an employee should not compete with his/her employer according to the duty of fidelity during the term of the employment agreement. As this is a statutory duty imposed on the employee, there is no need for such non-compete obligation to be explicitly set out in the employment agreement.
Akin Gump Advises Kuveyt Turk on USD 350 Million Issuance of Trust Certificates
Akin Gump has advised Kuveyt Turk Katilim Bankasi on its USD 350 million issuance of fixed-rate resettable sustainability Tier 2 certificates due 2031.
Turunc Advises Bogazici Ventures on Investment in Riders.ai
Turunc has advised Bogazici Ventures on leading a TRY 7.8 million investment round into Acrome coding platform Riders. Ak Portfoy participated in the round. Erturan Sit Kosgeroglu reportedly advised Acrome and Riders on the deal.
Turkish Constitutional Court Ruled that the Decision of Non-Jurisdiction Adopted After 7 Years Based on the Arbitration Clause Does Not Violate Right to Property
In its decision dated June 8, 2021, and numbered 2018/5832, the Turkish Constitutional Court [the “Court”] ruled that the dismissal of the case in terms of non-jurisdiction nearly after seven years on the ground of the arbitration clause does not violate the right to property.
Bozkurt Bozkurt Opens New York Office
Turkish litigation-focused law firm Bozkurt Bozkurt has opened an office in New York. The new office will be headed by the firm’s US resident Partner Gokhan Bozkurt. The firm's Istanbul office will continue to be managed by Partner Mustafa Bozkurt.
Turunc Advises Bogazici Ventures on TRY 4 Million Investment in Hiwell
Turunc has advised Bogazici Ventures on its TRY 4 million investment in the online therapy platform Hiwell. Tevetoglu advised Hiwell on the deal.