Okan Demirkan Recognised by Who’s Who Legal Arbitration as a Future Leader

Who’s Who Legal and Global Arbitration Review have recognised Kolcuoglu Demirkan Kocakli’s Partner Okan Demirkan as a “Future Leader” of the international arbitration world. Who’s Who Legal says: Okan Demirkan “has a great reputation” in the arbitration field and is “an absolute must for inclusion” according to peers. The SEE Legal Group congratulates Okan Demirkan and looks forward to his continued success.

KDK Hosts a Seminar on Concordat and its Recent Implementation

"Concordat and its Recent Implementation" Seminar, hosted by Kolcuoglu Demirkan Kocakli, took place on 20 November 2018 at the firm’s offices. Prof. Dr. Oguz Atalay and the firm’s managing partner Dr. Umut Kolcuoglu explained amendments to concordat regulations in light of the recent interesting case studies and addressed the matters to be considered in a concordat process. Kolcuoglu Demirkan Kocakli thanks Prof. Dr. Oguz Atalay and all the attendees for their interest in this event.

KDK’s Energy Team Contributes to The Energy Regulation and Markets Review: Turkey

As it did in 2015 and 2016, Turkey continues to take concrete steps to meet energy demands and to keep increasing the figures until 2023. In addition to relevant targets for electricity and natural gas, Turkey is also planning to enact a separate coal law, considering the specific needs of operating coal mines and the use of coal to meet energy demands. This shows that, while focusing on renewable energy investments, Turkey will continue to use coal as an energy resource in its energy strategies. All in all, Turkey aims to stop being an energy importer and start exporting energy in the coming years.…

Recent Amendments to Exemptions of Ban on Foreign Currency Transactions

In its latest client alert newsletter, KDK Discusses the Recent Amendments to Exemptions of Ban on Foreign Currency Transactions in Turkey: Article 4 of the Decree No. 32 on the Protection of the Value of Turkish Currency (the "Decree") was amended on 13 September 2018 (the "Effective Date"), to the effect that any contractual fees, prices and other payment obligations under; (i) real estate and movable property sale and purchase contracts, (ii) all types of movable property and real estate lease contracts, including those under vehicle lease and financial lease contracts, (iii) employment and…

Okan Demirkan Spoke at the Irresistible Charm of Diversity Panel

KDK’s Partner Okan Demirkan spoke at the “Irresistible Charm of Diversity” panel, organised by the Turkish Ethics and Reputation Society (TEID) in Istanbul on 28 September 2018. Being a board member of TEID, Okan Demirkan presented “The Legal Grounds of Gender Diversity in Turkey”. In his speech, Mr. Demirkan focused on the Turkish laws related to the gender diversity in the work environment and emphasized the significance of equality in opportunities. KDK Law Firm thanks TEID and all attendees of the conference.

Commercial Relations Between Turkey and African Countries

The long-standing economic and political ties between Turkey and Africa date back to the times of the Ottoman Empire. The presence of the Ottoman Empire in most of North Africa has led to a common history and culture between these two economic powers; and, such common background also enhanced the commercial relations between the Turkey and the continent of Africa. However, the commercial ties between these two market players were not always as strong as they are today. Basak Islim and  Busra Mollaahmetoglu, Associates of SEE Legal’s Turkish member, Kolcuoglu Demirkan Kocakli, discuss  Turkish…

Application of Competence-Competence Principle

The United Nations Commission on International Trade Law Model Law 1985 (the Model Law) adopts the principles of competence-competence and the separability of arbitration agreements. Under these principles, an arbitral tribunal may rule on its own jurisdiction, including any objection with respect to the existence and validity of an arbitration agreement. Consistent with the Model Law, in 2001 the International Arbitration Law (IAL) introduced these principles to Turkish legislation. That said, the IAL did not follow the Model Law in its entirety. This update discusses the legal framework in…

The Great Istanbul Tunnel Project

The three-level subsea tunnel under Istanbul’s Bosphorus Strait will connect the city’s two sides (European and Anatolian) with one railway and two highways. Trains will pass through a tube in the middle, while tubes below and above will be for vehicular transit. The tunnel will be integrated into nine subway lines, the TEM Motorway, the E-5 Motorway and the Northern Marmara Motorway. Around 6.5 million passengers are expected to use the tunnel on a daily basis once it is completed in the next five years.

Halkali - Kapikule Railway Line Project

This railway project will connect North Sea, the Baltic Sea, the Mediterranean and the Black Sea. Thus, Turkey’s long lasted reputation of being a junction between East and West in the transport sector is planned to be strengthen with this project. It aims not only to connect but also to reduce carbon emissions and make electrically-driven railways. The tender process for the consultancy for the project has started. The construction works are be tendered by the end of 2018.

Offshore Wind Plant Project of 1,200 MW

The Renewable Energy Resource Areas project with the first wind plants to be constructed on the sea will be the first of its kind in the country. The Energy and Natural Resources Ministry of Turkey will accept applications for the wind plant until 23 October 2018. The ceiling price for one megawatt-hour was set as USD 8. Applicants will compete for the lowest bid in a reverse auction. The investor submitting the lowest bid will sign an energy purchase agreement, including the first 50 terawatts-hour of electricity production starting from the first commissioning of the plant.

Privatisation of Coal Reserve and Energy Production Area

The Privatisation Administration has announced a public invitation for the participation in a tender for privatisation of Coal Reserve and Energy Production Area located in Eskisehir, owned by Elektrik Uretim A.S. through delivery of operating rights. The deadline for bidding is extended to 26 October 2018. The provisional security amount is USD 25 million.

A New Period in Tourism Investments: Room Sales to Third Parties

Within the last year, it has become possible for tourism investors to get an extension of up to 49 years for the term of usage rights granted on public real properties; and to acquire the real properties on which an easement right is established or has been allocated in favor of the tourism investors or the operators. On 30 June 2018, another long-awaited amendment was made to the Regulation on Certification and Qualifications of Tourism Facilities, legalizing the sales of hotel rooms in the tourism facilities to third parties. Busra Ozden, Associate at SEE Legal’s Turkish member, Kolcuoglu…