WHAT ARE THE NEW DETERMINATIONS UNDER ARTICLE 1530 OF THE TURKISH COMMERCIAL CODE ?
In the Official Gazette numbered 32061 published on 02.01.2023, the Central Bank of the Republic of Turkey announced the Communiqué on the Default Interest Rate to be aplied for Late Payments in the Supply of Goods and Services and the Minimum Expense Amount that can be claimed for the Collection Costs of Receivables ("Communiqué").
INTEREST RATES TO BE APPLIED IN REDISCOUNT AND ADVANCE TRANSACTIONS WERE DETERMINED.
On 31 December 2022, new rates were announced by the Central Bank of the Republic of Turkey with the Communiqué on Determination of Interest Rates to be applied in Rediscount and Advance Transactions in the Official Gazette numbered 32060.
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,
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.
Egemenoglu Advises Derindere Turizm Otomotiv Sanayi ve Ticaret A.S. on its Second Round of Consolidated and Syndicated Loan Restructuring
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).