EGEMENOGLU ADVISE ALKE ON THE SALE OF ITS SHARES
We are pleased to share that our law firm has advised Alke Saglik on the sale of its shares to Besifarma Ilac A.S. controlled by Taxim Capital, a leading Private Equity in Turkey.
NEW DECISIONS OF THE PERSONAL DATA PROTECTION BOARD
Pursuant to Articles 15 and 22 of the Law on the Protection of Personal Data (referred to as the ‘Law’), the Personal Data Protection Board (referred to as the ‘Board’) has the authority to examine complaints lodged by applicants or on matters that are ex officio and issue administrative fines for violations.
SHOULD THE DEFENSE OF THE EMPLOYEE BE TAKEN FOR THE REPORTING PERIOD OF HIM/HER DUE TO THE HEALTH REASON?
As is known, in accordance with the provision 25/1-b of Labour Law No. 4857, the employer's right to terminate the contract of employee arises after the reporting period, due to the health reasons, exceeds notice period six weeks. As a result of the termination in this way, the employer's obligation to pay severance payment arose, however, when the issue is examined in terms of job security provisions; it was long debated whether the obtaining defense was necessary or not before the termination and different decisions of the different departments of the Supreme Court of Appeals has caused uncertainty in the application
Debtor’s Assets Check System Is Coming
The Bill of Law on the Execution Proceedings for Pecuniary Claims Arising out of Subscription Agreements (“Law”) which amends the Enforcement and Bankruptcy Law has been passed into law by being adopted by the General Assembly of the Parliament.
Amendment To Provisions Of Concordatum
The Bill of Law on Procedure of Commencing Execution Proceedings of Receivables Arising from Subscription Agreements ( “Law”) amending various articles of Bankruptcy and Enforcement Law including provisions of concordatum has accepted by Grand National Assembly Of Turkey and has passed into law. The law is expected to be published in the Official Gazette in the upcoming days and the amendments are expected to come into force in soon. We would like to submit the amendments accepted in accordance with the law in terms of concordatum to your information below.
Amendment On The Regulation On Restructuring Of Debts Owed To Financial Sector
The Regulation Amending the Regulation on Restructuring of Debts Owed to Financial Sector (“Regulation”) which aims to amend the Regulation on Restructuring of Debts Owed to Financial Sector which was published on the Official Gazette dated August 15th, 2018, numbered 30510, and which of purpose was to provide debtors, who are in credit relation with banks, leasing companies, factoring companies and financing companies operating in Turkey, an opportunity to fulfill of their repayment obligations and to make sure that they continue to contribute employment, concerning credit debts owed by institutions above mentioned and with the measures to be taken within framework agreements and contracts, has been entered into force by being published on the Official Gazette numbered 30602 dated November 21st, 2018.
The Communique Related to the Decree on the Protection of the Value of the Turkish Currency Numbered 32, Prepared by the Ministry of Treasury and Finance
By the Decree amending the Decree on the Protection of the Value of the Turkish Currency numbered 32 published on September 13th, 2018 (“the Decree”), it has been decided that prices of real estate and movable purchase and sell contracts , all kinds of movable and real estate rental contracts including vehicle renting and financial leasing, employment, leasing, service and construction contracts executed between residents in Turkey shall not be drawn in foreign currency or foreign currency indexed. It has been also indicated in the Decree that details regarding the implementation of the Decree will be issued by the Ministry of Treasury and Finance.
Yunus Egemenoğlu participated to “Yatırım Kulübü” (which basically means “Investment Club”) broadcasted on Bloomberg TV.
Mr. Egemenoğlu treated the legal dimension of increase of the suspension of bankruptcy proceedings lately, while Professor Sakrak touched on economical dimension of this proceedings.