New Era in Assignment of Building Inspection Institutions: Electronic Appointment

The amendments made to the Law No. 4708 on Building Inspection and the Regulation on Implementation of Building Inspection to eliminate building inspection weaknesses caused by the close commercial ties between building inspection institutions and building contractors, entered into force on 1 January 2019. The amendments introduce transparent assignment of the building inspection institutions through electronic system.

Amendment to Turkish Code of Obligations: Recent Developments on Real Estate Lease Agreements

New Cap on Lease Amount Increase Rate: Consumer Price Index It was determined in the Medium-Term Plan pertaining to the years 2019-2023, published last September, that the cap on lease amount increase rate will be the Consumer Price Index (the "CPI") rather than the Producer Price Index (the "PPI"), as the PPI rate was highly affected by fluctuations in foreign currency and commodity prices. In this regard, initially, the Communique on Decree No. 32 on Protection of the Value of Turkish Currency (the "Communique on Decree No. 32") was amended to regulate that under certain circumstances, the lease…

KDK’s Partner Okan Demirkan Spoke at ISTAC’s M&A Disputes Conference

Okan Demirkan spoke at ISTAC’s M&A Disputes Conference, along with Dr. Michele Patocchi (Patocchi & Marzolini), Ed Poulton (Baker McKenzie) and Prof. Ercument Erdem. While sharing his experience in M&A related arbitrations, Okan emphasized the need to update Turkey’s International Arbitration Law, particularly its interim measures related provisions. In addition to his arbitration expertise, Okan also represents clients in litigation proceedings in Turkey, including commercial, administrative and employment lawsuits as well as criminal lawsuits related to white-collar crimes, and…

New Rules in the Turkish Judicial System: Target Time and Mandatory Mediation in Commercial Disputes

In Turkey, litigation processes take a long time due to many different reasons. The European Court of Human Rights has received many individual applications due to long-standing litigation processes in Turkey. To increase confidence in the Turkish judicial system and judicial authorities, on 31 August 2018 the Ministry of Justice published an official announcement on its website and wrote to the courthouses, initiating what is called "target time" in litigation. The target time has been implemented in the Turkish judicial system since 3 September 2018. Another significant change that was introduced…

KDK Advises Clients in Izmir

Kolcuoglu Demirkan Kocakli advises and represents clients in connection with all Turkish law matters, with a growing team of approximately 45 fee earners in the two offices in Istanbul and Izmir. The firm expanded from Istanbul to Izmir in 2014 getting closer to its clients from Izmir and the region.

KDK’s Partner Begum Incecam Trained ELSA Istanbul Students

Kolcuoglu Demirkan Kocakli’s Partner Begum Incecam trained student members of The European Law Students’ Association (ELSA) Istanbul on Mergers & Acquisitions. It was a productive training with Ms. Incecam’s explanations on mergers and acquisitions in general terms, together with an overview of M&A processes. According to Ms. Incecam, “Great interest of law students in M&A transactions is promising in terms of this practice area’s development”.

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…