Egemenoglu Advises Derindere Turizm Otomotiv Sanayi ve Ticaret A.S. on its Second Round of Consolidated and Syndicated Loan Restructuring 29 December 2021
As Egemenoğlu Law Firm, we are pleased to announce that we have successfully concluded the second phase of the Financial Restructuring Project developed by our Restructuring Team, under the leadership of our Managing Partner Yunus Egemenoğlu, while we represented and advised Derindere Group, a pioneer in the fleet vehicle leasing industry of Turkey which was ranked, in 2019, as the 76th largest company by Turkey Fortune 500, with respect to the second round of the consolidated and syndicated loan restructuring of its debt amounting up to €350 million, held by numerous financial institutions (29, to be precise, including such giants as Credit Europe Bank, and Islamic Corporation for the Development of the Private Sector).
What Are The Provisions That Have Been Postdated In The Distance Contracts Regulation?
The "REGULATION ON AMENDING THE REGULATION ON THE REGULATION ON DISTANCE CONTRACTS" (Hereinafter referred to as "Regulation") was published in the Official Gazette dated 14 September 2022, and in accordance with this Regulation, the effective dates of some regulations made on August 23, 2022 have been amended.
Alterations in the Context of the Law on the Regulation of Electronic Commerce
In consequence of the amendments made in the Law No. 6563 ("Law") with the Law No. 7416 on the Amendment of the Law on the Regulation of Electronic Commerce, published in the Official Gazette dated 7 July 2022 and numbered 31889, numerous new legal regulations have been envisaged on issues such as the obligations of electronic commerce intermediary service providers ("Intermediary Service Providers") and electronic commerce service providers ("Service Providers"), the administrative fines foreseen in case of violation of these obligations, the electronic commerce license and the expansion of the powers of the Ministry of Commerce ("Ministry") in this area. In this article, the contents of the provisions of the relevant Law will be cited and the date of entry into force will be explained as a consequence of the new regulations envisaged.
THE OFFICIAL GAZETTE HAS PUBLISHED THE REGULATION AUTHORIZING THE SALE OF IMMOVABLES BY THE NOTARY, WITH THE EFFECTIVE DATE SET FOR JANUARY 1, 2023.
With the "Law on the Amendment of the Law on Judges and Prosecutors and Some Other Legislation" numbered 7413 published in the Official Gazette dated 28 June 2022, a regulation authorizing the sale of real estate to notaries was introduced.
Obligation to Provide Continuous Information Regarding Advertisements Posted on the Internet
The Tax Procedure Law General Communiqué with line number 538 published in the Official Gazette dated 31 May 2022 has been published. Within the scope of this Communiqué, certain obligations were imposed on intermediary service providers, social network providers and hosting providers that mediate the publication of advertisements for the purchase, sale or rental of movable and real properties and goods and services. Aforementioned persons are obliged to report certain information specified in the Communiqué regarding the transactions they carry out to the Turkish Revenue Administration through the system created in the electronic environment.
Constitutional Court Decision On Fingerprint Registration System Is Published!
The Constitutional Court made a new decision regarding tracking employees' shifts by the employers in the working life, with fingerprint, face, palm, or retina scanning methods. The decision of the Constitutional Court, dated 10.03.2022, stating that tracking employees' shift with the fingerprint registration system violates the right to protection of personal data, was published in the Official Gazette dated 19 april 2022 and numbered 31814.
The Application Necessity Of Mediator In Negative Declaratory Actions!
The issue of the application necessity of mediator in terms of negative declaratory actions has been a matter of debate in doctrines and case-laws. However, at this point, a consensus has been reached on this issue and it is accepted that there is no application necessity of mediator in terms of negative declaratory actions.
Amendment To The Currency Of Payment To Be Made In Foreign Exchange Indexed Sale Of Goods Contracts!
In accordance with the Decision No. 32 on the Protection of the Value of the Turkish Currency, the matters to be determined by the Ministry of Treasury and Finance are regulated by the "COMMUNIQUE REGARDING DECISION NO. 32 ON THE PROTECTION OF THE VALUE OF TURKISH CURRENCY (“the Communiqué”) (Communiqué No: 2008-32/34)".
Charging Service Regulation Regarding Electric Vehicles Is Published!
In the context of the Charging Service Regulation (“Regulation”), published in the Official Gazette dated 02.04.2022 and numbered 31797, which entered into force on the date of its publication, the procedures and principles regarding the establishment of charging units and stations where electrical energy is supplied to electric vehicles, administration of stations connected to the charging network, provisions of charging service are determined. In this study, the main principles envisaged by the Regulation will be reviewed.
Expected Guideline Regarding “Discounted Sales Advertisements” Has Been Released!
The regulation on 'discount sales advertisements', which has been regulated within the scope of the Law on the Protection of the Consumer, has been amended and this amendment entered into force on March 1, 2022. With this amendment,
10 Most Frequently Asked Questions And Answers Regarding Foreigners To Legally Reside In Turkey
We have gathered the legal regulations regarding the "Presence of Foreigners in Turkey", which is the most frequently asked question by our clients, under the heading of 10 questions.
Turnover Thresholds Based On Mergers And Acquisitions Subject To The Competition Board's Permission Have Changed!
An amendment was made to the Communiqué Concerning the Mergers and Acquisitions Calling for the Authorization of the Competition Board (“Communiqué No: 2010/4) with the Communiqué No. 2022/2 (“Communiqué on Amendment”) published in the Official Gazette dated 4 March, 2022 and numbered 31768.
What Do Russian Sanctions Imply?
In terms of the possible effects of the crisis between Russia and Ukraine on commercial life, the statements made by the countries in the international community regarding this crisis are crucial. In this sense, Germany froze the approval process of the Nord Stream 2 gas line as a first step, while the USA banned trade with Luhansk and Donetsk. On the other hand, England froze the assets of five Russian banks and three Russian billionaires in the country, and Japan gave some sanction signals for the future. Finally, Canada announced that in the first phase of economic sanctions, Canadians were barred from financial agreements with Donetsk and Luhansk.
Responsibility Of Intermediary Service Provider For Defective Products Purchased Electronically.
ON 15.11.2021, REGARDING THE LIABILITY OF THE SERVICE PROVIDER, 3rd LEGAL DEPARTMENT OF HIGH COURT DECIDED THAT THE INTERMEDIATE SERVICE PROVIDER IS NOT RESPONSIBLE FOR THE DEFICIENCY OF THE PRODUCTS WHICH ARE PURCHASED ELECTRONICALLY.
The Regulation On Pollutant Emission And Transport Registration Is Published.
The “Regulation on Pollutant Emission and Transport Registration” (“Regulation”) prepared by the Ministry of Environment, Urbanization and Climate Change (“Ministry”) was published in the Official Gazette dated 4 December 2021. In the Regulation, the procedures and principles for the creation of a record of the emission and transport of pollutants are regulated in order to protect the environment and reduce environmental pollution originating from industrial and non-point sources.
Procedures And Principles Regarding The Implementation Of Electronic Notification To Ssi Been Published, The Application Time
With the "Regulation Regarding Electronic Notification By Social Security Institution" (the Regulation), which published at the Official Gazette dated 24.09.2021 and numbered 31608, the e-notification period started in the Social Security Institution (SSI) and it was regulated that the documents required to be notified by the SSI would be notified to the addressees in electronic environment in accordance with the Regulation.