Bezen & Partners | News

Bezen & Partners has represented MB UAE INVESTMENT LLC on buying out minority shareholders in Turkish subsidiaries

Bezen & Partners has represented MB UAE INVESTMENT LLC on buying out minority shareholders in Turkish subsidiaries Bezen & Partners has represented MB UAE INVESMENT LLC (“MB UAE”), an affiliate of the energy giant MB Holding Company LLC...

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  • Kamu kontrolündeki halka açık şirketlerde yeniden yapılandırma kolaylığı hakkındaki Mevzuat Bilgilendirmemiz yayımlanmıştır.

     

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  • Our Legal Briefing on the facilitation of restructurings of public companies under State control has been published.

     

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  • COVID-19 ile mücadele kapsamında teminatlı menkul kıymet ihraçlarının desteklenmesine ilişkin Bilgi Notumuz yayımlanmıştır.

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  • Our Information Note on the promotion of secured bond issuances in view of the COVID-19 pandemic has been published.

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  • COVID-19 tedbirleri kapsamında getirilen kar dağıtımı kısıtlamalarına ilişkin uygulama ve istisnalar hakkındaki Bilgi Notumuz yayımlanmıştır.

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  • Our Information Note on the implementation of and exceptions to the dividend distribution restrictions which had previously been introduced as part of the Government’s COVID-19 measures has been published.

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  • Yurtdışına veri aktarımı konusuna ilişkin Kişisel Verileri Koruma Kurumu’nun duyurusu hakkındaki Bilgi Notumuz yayımlanmıştır.

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  • Our Information Note on the Personal Data Protection Authority’s recent announcement as to the transfer of data abroad has been published.

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  • COVID-19 ile mücadele kapsamında BDDK ve SPK’nın türev işlemlerine ilişkin bazı kısıtlamalar getiren kararları hakkındaki Bilgi Notumuz yayımlanmıştır.

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  • Our Information Note on the decisions of the BRSA and the CMB with respect to certain restrictions to derivative transactions in view of COVID-19 has been published.

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  • Our Information Note on the decision of the Banking Regulatory and Supervisory Authority introducing a new asset ratio calculation method for Turkish banks has been published.

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  • Our information Note on the postponement, cancellation and restructuring of certain receivables as another COVID-19 measure has been published.

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  • COVID-19 ile mücadele kapsamında bazı alacakların ertelenmesi, alınmaması veya yapılandırılmasına ilişkin yasal düzenlemeler hakkındaki Bilgi Notumuz yayımlanmıştır.

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  • Our information Note on the effects of the COVID-19 pandemic on dividend distributions of corporations has been published.

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  • COVID-19 salgınının sermaye şirketlerinde kar payı dağıtılmasına etkisi hakkındaki Bilgi Notumuz yayımlanmıştır.

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  • Our Information Note on the latest labour and social security law updates as part of the Government’s COVID-19 measures has been published.

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  • COVID-19 ile mücadele kapsamında iş ve sosyal güvenlik mevzuatındaki son gelişmeler hakkındaki Bilgi Notumuz yayımlanmıştır.

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  • Our Information Note on the exemptions granted to the Turkey Wealth Fund in connection with the Government’s COVID-19 measures has been published.

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  • COVID-19 Kapsamında Alınacak Önlemler için Türkiye Varlık Fonu’na Tanınan İmtiyazlar hakkındaki Bilgi Notumuz yayımlanmıştır.

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  • Our Information Note on EMRA’s time extension decision in light of COVID-19 has been published.

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  • COVID-19 salgını ile mücadele kapsamında EPDK tarafından alınan süre uzatımı kararı hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on KOSGEB’s financial support to SMEs as another COVID-19 measure has been published.

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  • COVID-19 salgını ile mücadele kapsamında KOSGEB tarafından KOBİ’lere sağlanan finansal destek hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the letter of the Ministry of Trade concerning dividend distributions as another COVID-19 measure has been published.

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  • COVID-19 salgını ile mücadele kapsamında Ticaret Bakanlığı’nın kar payı dağıtımı ile ilgili yazısı hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the latest development concerning the financial obligations within the Mining Law as another COVID-19 measure has been published.

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  • COVID-19 salgını ile mücadele kapsamında Maden Kanunu’nda yer alan mali yükümlülüklere ilişkin yeni düzenleme hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the latest development concerning the import of medical diagnostic units as a further COVID-19 measure has been published.

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  • COVID-19 salgını ile mücadele kapsamında tıbbi tanı kitlerinin ithaline ilişkin yeni düzenleme hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the effects of the COVID-19 pandemic on public procurement agreements has been published.

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  • COVID-19 salgının kamu ihale sözleşmelerine olan etkileri hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the latest developments concerning the budget of local authorities, credit guarantee institutions and commercial receivable insurances as a further COVID-19 measure has been published.

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  • COVID-19 ile mücadele kapsamında yerel yönetim bütçelerine, kredi garanti kurumlarına ve ticari alacak sigortalarına ilişkin alınan son tedbirler hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the latest developments concerning credit guarantees and the accommodation tax implementation as part of the measures in the fight against COVID-19 has been published.

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  • COVID-19 ile mücadele kapsamında kredi garantileri ve konaklama vergisi ile ilgili alınan önlemlere ilişkin Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the latest labour and social security legislation updates as part of the measures in the fight against COVID-19 has been published.

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  • COVID-19 ile mücadele kapsamında iş ve sosyal güvenlik mevzuatındaki son gelişmelere ilişkin Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the postponement of amounts payable by tourism facilities located on public land as another COVID-19 measure has been published.

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  • COVID-19 ile mücadele kapsamında kamu arazileri üzerindeki turizm tesislerinin ödemesi gereken bedellerin ertelenmesine ilişkin Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the suspension of workplace rental agreement termination and evacuations as a further COVID-19 measure has been published.

      INTRODUCTION

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  • COVID-19 ile mücadele kapsamında işyeri kiralarının feshi işlemleri ve tahliyelerinin durdurulması hakkındaki Bilgi Notumuz yayınlanmıştır.

      GİRİŞ

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  • Our Information Note on the new regulations as to the possibility to defer low interest loans of tradesmen and craftsmen in the fight against COVID-19 has been published.

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  • COVID-19 ile mücadele kapsamında esnaf ve sanatkârların düşük faizli kredi ödemelerinin ertelenmesi imkanına ilişkin düzenlemeler hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the postponement of organisations in the fight against COVID-19 has been published.

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  • COVID-19 ile mücadele kapsamında organizasyonların ertelenmesine ilişkin Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the suspension of enforcement and bankruptcy proceedings and judicial time limits in the fight against COVID-19 has been published.

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  • COVID-19 ile mücadele kapsamında icra ve iflas takiplerinin ve adli sürelerin durdurulmasına ilişkin düzenlemeler hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the Tax Procedure Law General Communiqué No. 518 adopted in the fight against COVID-19 has been published.

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  • COVID-19 ile mücadele kapsamında yayımlanan 518 Sıra No’lu Vergi Usul Kanunu Genel Tebliği hakkındaki Bilgi Notumuz yayınlanmıştır.

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  • Our Information Note on the new developments concerning the export of certain medical devices has been published.

      INTRODUCTION

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  • Bazı tıbbi cihazların ihracına ilişkin yapılan değişiklik hakkındaki Bilgi Notumuz yayınlanmıştır.

      GİRİŞ ...

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  • Changes in the Turkish Financial Market with the Newly Introduced Omnibus Law

    Introduction The Law Amending the Banking Law and Certain Laws has been published in the Official Gazette dated 25 February 2020 and numbered 31050 (the “Amending Law”). The Amending Law, be...

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  • PARTNERS UĞUR SEBZECI AND CAN ÖZILHAN ACCEPT NEW ROLES

    Bezen & Partners is pleased to announce the successes of partners Uğur Sebzeci and Can Özilhan, who have accepted positions with the firm’s clients Rönesans Holding and the European Bank of Reconstruction and Development (EBRD) respectively.

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  • Bezen & Partners celebrates New Year

    To ring in the New Year and wish partner Can Özilhan the best on his future endeavous, Bezen & Partners' associates and staff were treated to a traditional Turkish rakı balık dinner and lively conversation on Istanbul's enchanting Bosphorus waterfront. T...

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  • Bezen & Partners advises Turkish football player Ömer Kerim Ali Rıza in landmark ECHR Decision, with substantial structural implications for Turkish Football going forward

    The European Court of Human Rights (“ECHR

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  • A Summary Of The New Legislation Regarding Digital Services Tax

    Background The constant increase in Internet use and technological improvements have helped us access many applications and programs on digital platforms. Companies working with such digital business models have made significant profit from the services they provide thro...

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  • EÜAŞ’ Mobile Power Plants

    Turkish Electricity Generation Company (“EÜAŞ”) commissioned seven mobile power plants base...

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  • Bezen & Partners attends Bonds, Loans & Sukuk Turkey 2019

    This year at the Bonds, Loans & Sukuk Turkey 2019 Conference held on 13th & 14th November, Bezen & Partners attended and sponsored the event once again. Our partners and select associates attended the conference, where Yeşim Bezen was a moderator for the panel entitled: &ldquo...

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  • Turkey: Tenfiz Davalarında Görevli Mahkeme

    Yabancı mahkeme kararlarına ilişkin tenfiz davalarına bakmakla görevli olan mahkeme 5718 sayılı Milletlerarası Özel Hukuk ve Usul Hukuku Hakkında Kanun'un ("MÖHUK") 51/1'inci maddesi gereğince asliye mahkemesi...

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  • Bezen & Partners advises Transmark Turkey on geothermal power plant EPC contract

    Bezen & Partners has advised Transmark Turkey, a Turkish geothermal development company on an Engineering, Procurement and Construction (EPC) contract with Chinese ...

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  • Turkey: The Turkish Personal Data Protection Board's Decision On The Registration Liability Of The Data Controllers' Registry

    Introduction The Personal Data Protection Law numbered 6698 (the "PDPL") provides that data controllers which are subject to the PDPL must register with the Data Controllers' Registry (&...

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  • Turkey: New Severance Payment Model: What To Expect?

    Introduction Severance payments are clearly one of the most controversial and delicate subjects of employment law in the Republic of Turkey. As the vast majority of cases brought before employment law courts are relat...

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  • Turkey: Amendment To The Application Procedure For Local Content Bonus Payments

    Introduction The Regulation Amending the Regulation on the Support of Local Content of Renewable Energy Electricity Generation Facilities (the "Regulation") was published in the Official Gaz...

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  • Turkey: The Turkish Sovereign Wealth Fund To Invest In Energy Generation, Petrochemical And Mining Sectors

    Introduction The Turkish Government has recently revealed an update of its New Economic Program for the three-year period starting from 2020 under the main theme of "Transformation Begins".

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  • Turkey: Legislation Round-Up - Restructuring Regulation, Suspicious Financial Transaction Guidelines And Equity Crowdfunding Communiqué

    Introduction This short note intends to provide a round-up of key changes in financial legislation in recent months. The so-called "Restructuring Regulation" ...

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  • B&P Acts for Suez Groupe on the Waste Management Project in Çanakkale

    Bezen & Partners advised SUEZ, a French utility and infrastructure conglomerate, during the international tender process for a 29-year ...

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  • Bursa City Hospital

    On 20 June 2019, our partners Yesim Bezen and Banu Bölükemini and our associate

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  • Amendments to Building Inspection Legislation

    Introduction Law No. 7143[1] (the “Blanket Law”) provided extensive amendments to a number of legislation, including mong them, the Building Ins...

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  • Draft Regulation on Energy Storage Activities

    Introduction The Energy Market Regulatory Authority (“EMRA”) has published a draft of the “Regulation on Energy Storage Activities” (the “Draft Regulation”) for public consultation. The ...

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  • Bezen & Partners Attends to Paris Arbitration Week

    Partners Murat Soylu and Can Özilhan attended the Paris Arbitration Week 2019. The #PAW2019 kicked off on 1 April with the 3rd annual ICC European Conference. The event brought together professionals from around the world for a week of engagement on cutting-edge subjects impacting the disp...

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  • Bezen & Partners visits Germany

    March was an eventful month for the Bezen & Partners team. With many esteemed clients and friends in Germany, our native German-speaking partners Yeşim Bezen and Banu Bölükemini and our native German-speaking senior associate İlke Işın Süer visited Germany towards the end...

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  • Important Amendments Concerning the Revaluation of Rental Amounts

    Introduction

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  • Extensive Amendments to Mining and Energy Legislation

    Introduction

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  • NPL Europe 2019: Focus on Turkey

    On 7-8 March 2019, our partners Yesim Bezen and Can Özilhan participated in the "NPL Europe 2019" conference launched in London by SmithNovak, a leading forum for NPL transactions in Europe. It was a great turnout of Europe’s leading originators, investors ...

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  • Bezen & Partners visits London

    Partners Yesim Bezen and Can Özilhan were in London for the first week of March for the Turkey...

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  • Bezen & Partners visits Astana

    With many esteemed clients and friends in the CIS region, Bezen & Partners visited the capital city of Kazakhstan. Our managing partner Serdar Bezen and our corporate partner Murat Soylu set out on a trip to the fast emerging city of Astana, where they attended the Central Asia Renewab...

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  • B&P’s Akfen Renewable Structured Financing Deal Awarded at Bonds & Loans Turkey Awards 2019

    We are pleased to announce that Akfen Renewable Energy’s USD260 million structured financing was awarded the “ECA/Export Finance Deal of the Year” and was runner-up for the “Natural Resources Finance Deal of the Year” at this year&...

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  • B&P’s YDA Bond Issuance Recognised at Bonds & Loans Turkey Awards 2019

    We are pleased to announce that YDA İnşaat’s TRY400 million qualified investor bond offering was awarded third place in the “Local Currency Bond/Sukuk Deal of the Year” category at this year’s Bonds & Loans Turkey Awards. B&P represented instit...

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  • B&P’s İzmir Metro Line Extension Financing Recognised at Bonds & Loans Turkey Awards 2019

    We are pleased to announce that EBRD’s EUR80 million financing to the İzmir Metropolitan Municipality for the Fahrettin Altay-Narlıdere metro line extension was awarded third place in the “Infrastructure Finance Deal of the Year” and “Transport...

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  • Amendments to Transport Legislation for Petroleum Products

    Introduction The Decree on the Transportation of Crude Oil and Jet Fuel by Road and Rail (the “Transportation Decree”) was amended by way of Presidential Decree numbered 715, effective as from its publication in the Official Ga...

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  • Mandatory Mediation For Commercial Disputes

    Introduction Law No 7155, formally titled “Law on the Procedure of Initiating Debt Enforcement Proceedings For Payment Claims Under Subscription Agreements” was published in the Official Gazette dated 19 December 2018 and numbered 30630 ( &ldqu...

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  • A Look At The Draft Unlicensed Electricity Generation Regulation

    Introduction The Energy Market Regulatory Authority (“EMRA”) had opened a draft of the so-called “Unlicensed Generation Regulation”

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  • The New Regulation on Electronic Notices

    Introduction A new Regulation on Electronic Notices has been published in the Official Gazette dated 6 December 2018 and numbered 30617 (the “Regulation”), annulling the previous regulation on the matter

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  • Austrian Data Protection Authority's Decision On Data Protection Measures

    Introduction As data protection laws around the world continue to mature, precedent decisions concerning the understanding and application of data protection principles have started to emerge from various jurisdictions. In a recent ca...

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  • A Case Study In Data Breaches - Uber's Data Security Breach Fines Reach USD 150 Million

    Introduction Uber, the ridesharing giant, admitted that a "data security incident" in 2016 resulted in unauthorised access to the personal information of some 57 million UBER customers and drivers worldwide1.

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  • B&P Shortlisted for the Lawyer European Awards 2019

    We are delighted to be shortlisted once again for “Law firm of the year: Turkey” by the Lawyer European Awards. Serdar Bezen, Managing Partner, commented: “We are proud to be shortlisted for this prestigious category, which recog...

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  • B&P Announces New Partners

    Bezen & Partners is pleased to announce that Uğur Sebzeci and Can Özilhan have been promoted to partnership, effective as of 1 January 2019. Uğur Sebzeci joined the firm a decade ago as a trainee. Uğur has spen...

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  • CMB’s Draft Amendments to the Takeover Communiqué

    Introduction The Turkish Capital Markets Board (the “CMB”) has opened draft amendments to its Communiqué II-26.1 on Mandatory Tender Offers (the “Mandatory Tender Communiqué”).

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  • CMB Amends Disclosure Rules For Listed Companies

    Introduction The Turkish Capital Markets Board (the “CMB”) effected changes to Communiqué II-15.1 on Material Events Disclosure (the “Material Disclosures Communiqué”) on 17 November 2...

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  • Amendments To The Regulation Regarding The Restructuring Of Debt Owed To The Financial Sector

    Introduction The Regulation on the Amendment of the Regulation regarding the Restructuring of Debt Owed to the Financial Sector has entered into force upon its publication in the Official Gazette dated 21 November 2018 and numbered 30602 (the "

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  • Legislative Proposal To Amend Mandatory Mediation On Labour Disputes

    Introduction The legislative proposal submitted on 15 October 2018 (the "Proposal") constitutes a motion to amend Article 3 of Law No. 7036 on Labour Courts, published in the Official Gazette dated 25 October 2017 and numbered 30...

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  • Foreign Currency Exceptions Updated

    The Ministry of Treasury and Finance has revised and reissued its list of exceptions to the foreign currency and currency-indexed contract limitations under Decree No. 32. The reissued list changes previously established positions without providing any express transition p...

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  • Amendments to the Decree on Treasury Support for Credit Guarantee Institutions

    Introduction Kredi Garanti Fonu A.Ş. (“KGF”) is a credit guarantee institution established in the early 90’s to support small and medium-sized enterprises (SMEs) that would otherwise not have access to credit, by sharing...

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  • A Look Back at Foreign Currency Restrictions

    06 November 2018 It has been exactly a month since the Ministry of Treasury and Finance issued its list of exceptions to the highly controversial foreign currency and currency indexing limitations introduced in early September. This legal briefing wil...

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  • Bezen & Partners Contributes to the World Bank Doing Business Report 2019

    Bezen & Partners is pleased to announce that the World Bank Doing Business 2019: Training for Reform has been released and, for the sixth year in a row, the firm has been acknowledged as a contributor to the Getting Credit – Legal Rights in Turkey. The Bezen &...

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  • B&P Finance and Capital Markets Teams Shortlisted for Six Awards in the Bonds & Loans Awards Turkey 2019

    We are delighted to announce that six of the deals we advised on were recognised for their impact within the Finance industry. Bonds, Loans & Sukuk Turkey has shortlisted the projects of the Bezen & Partners Finance and Capital Markets teams for a total of six awards in the upcoming

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  • New Requirements For Mining Tenders Are On The Government’s Agenda

    On 15 October 2018, the Minister of Energy and Natural Resources Fatih Dönmez announced that the Government is working on a new model for mining tenders. The announcement indicates that investors may be obliged to carry out research and development activities and construct manufacturing pl...

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  • Tax Restructuring Communiqué

    Introduction The Law Regarding the Restructuring of Taxes and Other Certain Receivables and Amendments Made to Certain Laws (the “Tax Restructing Law”) entered into force on 11 May 2018. The Ta...

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  • Amendments To The Restated Capital Flows Directive

    Introduction The Capital Flows Directive of the Central Bank was restated in 2 May 2018 (the "Restated Directive") following substantial changes to its underlying legislation, namely Decree No 32 on the Protection of the Val...

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  • Update on Currency Restrictions

    On 13 September 2018, Turkish currency regulations were amended to introduce highly controversial restrictions on the use of foreign currency and currency-indexing in certain categories of contracts entered into between Turkish residents and requiring existing contracts to be converted into Tur...

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  • B&P Acts for Haier to Buy Italian Appliance Brand Candy for €475 Million

    Bezen & Partners has acted for Qingdao Haier, a Chinese electronics and domestic appliances giant, on the Turkish aspects of its €475 million ($547 million) acquisition of Italian Candy Group S.p.A. as it looks to expand Qingdao  Haier’s market share in the European market.

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  • The 1GWe Solar RE-ZONE Tender Officially Announced

    The Ministry of Energy and Natural Resources (the “Ministry”) has officially announced the eagerly anticipated tender for Turkey’s second solar Renewable Energy Resource Areas (“RE-ZONE”) project with a total capacity of 1,000 MWe....

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  • A Note on the New Mediation Regulation

    Introduction The Regulation pertaining to the Law on Mediation concerning Civil Disputes (the “Regulation”) has entered into force following its publication in the Office Gazette numbered 30439 on 2 June 2018. The objective of ...

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  • The Role of the Private Sector in Railway and Metro Systems (Liberalisation, Opportunities and Suggestions)

    On Thursday 27 September, Bezen & Partners and IPFA jointly organised an event on “The Role of the Private Sector in Railway and Metro Systems (Liberalisation, Opportunities and Suggestions)”. The event was hosted by Bezen & Partners and took place at the Hyatt Centric Leven...

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  • B&P Advises BASF SE on Acquisition of a Commercial Enterprise by way of Asset Purchase

    Bezen & Partners has advised BASF SE, a German chemical company in the acquisition of significant components of the seed and herbicide businesses of Bayer AG, a German multinational pharmaceutical and life science company. The assets BASF SE has agreed to acquire in the transaction include ...

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  • Countdown to VERBIS Registration Begins

    Introduction The Turkish Personal Data Protection Board (the “Board”) has finally launched VERBIS, the online registration platform for data controllers (the “Registry”) on 01 October 2018.

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  • B&P Holds Successful Data Protection Requirements Seminar

    As “the Law on the Protection of Personal Data” (Kişisel Verilerin Korunması Kanunu) (KVKK)” has come into force on 7 April 2016 and the European Union General Data Protection Regulation (GDPR) has come into force on 25 May ...

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  • A Brief Look at Blockchain Technology

    For some, the term blockchain is synonymous with Bitcoin, a digital currency that has had a meteoric rise in popularity and value. For others, it is a technological revolution which holds the potential to fundamentally alter the way we do business.  A look at fairly r...

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  • One Day, Two Events | Keynote Speakers Announced

    LEGAL AND TECHNICAL PERSPECTIVE OF DATA PROTECTION REQUIREMENTS 9:30 am – 10:00 am: Registration 10:00 am – 10:45 am: Opening Speech and Presentation on Legal Perspective of Data Protectio...

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  • Regulation For The Restructuring Of Debts Owed To The Financial Sector

    Introduction The Regulation for the Restructuring of Debts Owed to the Financial Sector (the “Restructuring Regulation”) was published in the Official Gazette dated 15 August 2018 and numbered 30510 and entered into force on th...

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  • Sweeping Currency Restrictions

    Legal Briefing 14 September 2018 Presidential Decision No. 85 has effected changes to Decree No. 32 Regarding the Protection of the Value of the Turkish Lira (“Decree No. 32”) which governs Turkey’s general currency control and ca...

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  • One Day, Two Events | Mark your Calendars for 27 September!

    Bezen & Partners proudly announces two upcoming events for industry leaders and companies from around the world. A unique opportunity to come together and discuss investment opportunities and data protection requirements in Turkey. GET IN LINE WITH TH...

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  • A Look at Recent Amendments to Independent Audit Thresholds

    Introduction Independent auditing refers to auditing of a company’s financial statements, records, accounting practices and internal controls and other related matters by an independent auditor.   According to Article 397 o...

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  • A Look at Recent Changes to the Mandatory Offer Communiqué

    Introduction The Capital Markets Board effected changes to Communiqué No II-26.1 on Mandatory Offer Requirements (the “Mandatory Offer Communiqué”) on 5 June 2018 to introduce new exemptions to mandatory offer req...

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  • B&P Acts for EBRD's First Financing of Migros in Turkey

    Bezen & Partners has acted for EBRD in relation to its subscription for a domestic corporate bond issuance by Migros Ticaret A.Ş. to qualified investors. EBRD invested TRY 30 million in the TRY 150 million Turkish-lira-denominated bond issuance by the country’s ...

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  • Transitional Amendments Under Decree No. 703

    The Decree Numbered 703 Amending Certain Laws and Decrees for the Purposes of Compliance with the Amendments to the Constitution (the “Decree No. 703”) was published in the 3rd repeating Official Gazette dated 9 July 2018 and numbered 30473. De...

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  • Amendments to the Healthcare PPP Law

    Introduction The Decree Numbered 703 Amending Certain Laws and Decrees for the Purposes of Compliance with the Amendments to the Constitution (the “Decree No. 703”) was published in the 3rd repeating Official Gazette dated 9 Ju...

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  • New Procedures for the Reporting Requirements under the FDI Regulation

    The Implementation Regulation on Foreign Direct Investments published in the Official Gazette dated 20 August 2003 and numbered 25205 (the “Implementation Regulation”) has recently been amended with the Regulation Amending the Implementation Regulation on Foreign Di...

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  • New Developments on the Upcoming Off-shore Wind Energy Tender

    On 23 March 2018, the General Directorate of Renewable Energy (“DGRE”) announced the designation of new potential Renewable Energy Source Areas (“RE-ZONEs”) for the upcoming tenders in 2018. According to the announcement, i) Saros, ii) Gelibolu, and...

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  • The Personal Data Protection Board’s Decision on Class Exemptions

    Introduction The Personal Data Protection Board (the “Board”) has determined the persons to be exempt from registering to the Data Controllers Registry with its decision dated 2 April 2018 and numbered 2018/32 (the “Decis...

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  • Get in Line With Data Protection Requirements

    A global movement regarding personal data protection has gained momentum in the past few years. Questions of privacy, transparency and fairness are as global and important as they are nuanced and never have these questions been in the public eye as now, with Senate hearing...

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  • Amendments to the Regulation on the Procedure and Principles of Obtaining External Financing within the scope of Law No. 4749

    The Undersecretariat of Treasury has effected amendments to the Regulation on the Procedure and Principles of Obtaining External Financing within the scope of Law No. 4749 (the “Regulation”). The amending regulation was published in the Official Gazette numbered 304...

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  • Amendments to the Regulation on the Accounting Practices and Financial Statements of Financial Leasing, Factoring and Financing Companies

    The Banking Regulation and Supervision Agency of the Republic of Turkey (the “BRSA”) has effected amendments to the Regulation on the Accounting Practices and Financial Statements of Financial Leasing, Factoring and Financing Companies (the “Regulation”). The amending re...

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  • B&P Shortlisted for the ALB Japan Law Awards 2018

    We are proud to be nominated finalist for the Projects, Energy and Infrastructure Deal of the Year in respect of the “Turkish Hospital Public-Private Partnership Project” in the upcoming 14th Annual ALB Japan Law Awards. Fingers crossed!!The nominations for this year's aw...

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  • Amendments to the Mandatory Reserves Communiqué No 2013/15

    The Central Bank of the Republic of Turkey (the “Central Bank”) has effected amendments to Communiqué No. 2013/15 on Mandatory Reserves. Amending Communiqué No. 2018/2 has been published in the Official Gazette dated 09 May 2018 and numbered 30416 (the...

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  • Istanbul Trade Registry transitions additional registration processes to MERSIS

    BackgroundThe Central Electronic Registration System (“MERSIS”) was established in 2010 to provide, among other things, a centralised electronic platform to handle corporate registration formalities. Local trade registrars have been in a proc...

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  • Amendments To The Natural Gas Market Licensing Regulation

    The Regulation Amending the Natural Gas Market Licensing Regulation was published in the Official Gazette dated 17 April 2018 and numbered 30394 (the “Amending Regulation”). The Amending Regulation introduces several amendments to the existing Natural Gas Market Lic...

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  • Circumvention of Anti-dumping Measures

    The Law on the Prevention of Unfair Competition of Imports[1] and the Regulation on the Prevention of Unfair Competition of Imports[2] (the “Regulation”) are the principal Turkish legislation regulating dumping and/or subsid...

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  • Are Mutual Termination Agreements Subject To Tax Exemptions?

    The Income Tax Law numbered 1931 (the "Income Tax Law") has been subject to important amendments pursuant to the Law Amending the Tax Related Laws and Other Laws and Decree Laws numbered 71032 (the "Amending Law&qu...

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  • Recent Changes To Capital Markets Regulations

    The Capital Markets Board has recently effected changes to Communiqué No II-23.1 on Common Principles regarding Significant Transactions and Retirement Rights (“Communiqué No II-23.1”). The amendments to Communiqué No II-23.1 were published in t...

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  • Amendments to Communiqué on the Execution of Articles of Association Before Trade Registries

    The Ministry of Customs and Trade has issued amending communiqué to the Communiqué on the Execution of the Articles of Association Before Trade Registries on 17 April 2018 with the Official Gazette numbered 30394 (the “Amending Communiqué”). The...

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  • New Standard System Connection and Usage Agreements

    The Energy Market Regulatory Authority (EMRA) announced its decision in the Official Gazette dated 7 April 2018 and numbered 30384 that it has approved the new standard forms for Transmission System Connection Agreement (the “Connection Agreement”) and the Transmiss...

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  • Asgari 30 İşçi Çalıştırma Şartının İş Güvencesi Kapsamında Grup Şirketler Yönünden Değerlendirilmesi

    İş sözleşmesi geçerli bir sebebe dayanılmaksızın feshedilen işçinin iş güvencesi kapsamında feshin geçersizliğinin tespiti ve işe iade davası açması için gerekli olan şartlar 4857 sayılı İş Kanunu’nun[1] 1...

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  • The Law Amending Tax Laws, Certain Laws And Certain Decree Laws Numbered 7013 Enters Into Force

    The Law Amending Tax Laws, Certain Laws and Certain Decree Laws numbered 7103 (the “Law”) has been published in the Official Gazette dated 27 March 2018 and numbered 30373.The Law brought amendments to tax laws, the Electricity Market Law, investment incentiv...

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  • Amendments Relating To Electricity Market Legislation

    The Law Amending Tax Laws, Certain Laws and Decrees (the "Omnibus Law") was published in the Official Gazette dated 27 March 2018 and numbered 30373. The Omnibus Law brings important amendments concerning unlicensed energy market activities including certain tax exemp...

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  • Work Permits And Work Permit Exception Certificates For Foreign Directors And Managers

    The International Labour Law1 numbered 6735 (the "International Labour Law") adopted a new approach to work permit requirements for foreign members of the board of directors of joint stock companies ("foreign directors") and foreign man...

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  • Amendments to the Code of Execution and Bankruptcy

    IntroductionThe Law Amending the Code of Execution and Bankruptcy and Certain Laws numbered 7101 has been published in the Official Gazette dated 15 March 2018 and numbered 30361 (the “Law”).The Law, prepared on the basis of the recomm...

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  • Recent Amendments to the Turkish Commercial Code

    The Turkish Commercial Code numbered 6102[1] (the “TCC”) has recently seen piece-meal amendments pursuant to (i) Law no. 7069 Amending the Decree Law[2]; (ii) Law no. 7078 Amending the Decree Law[3]; (ii...

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  • The Capital Markets Board's New Communiqués On The Management And Independent Audit Of Information Systems

    The Capital Markets Board (the “CMB”) (Sermaye Piyasası Kurulu) has recently published two new communiqués on the management and independent audit of the information systems, namely (i) the Communiqué on the Management of Information Systems ...

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  • New Rules For Rooftop Solar

    The Energy Market Regulatory Authority (“EMRA”) has adopted a new decision published in the Official Gazette dated 18 January 2018 and numbered 30305 concerning the terms and conditions for unlicensed power plants based on solar energy and the utilisation of excess ...

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  • Amendments to the Law on Movable Pledges in Commercial Transactions

    BackgroundThe Law on Amendment to Certain Laws to Improve the Investment Environment (the “Amending Law”) has been published in the Official Gazette numbered 30356 and dated 10 March 2018. The Amending Law introduces a substantial suite of am...

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  • New Renewable Energy Resource Areas Tenders to be Held in 2018

    Legal Background and the Previous TendersTurkey enacted the Regulation on Renewable Energy Resource Areas (RE-ZONEs) on 9 October 2016 (the “Regulation”). The Regulation introduced large renewable energy areas on which power plants with high ...

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  • Bezen & Partners advises Polat Enerji on key Turkish Solar Project

    Bezen & Partners has acted for Polat Enerji in relation to its acquisition of the entire share capital of Şua Elektrik Üretim A.Ş. which holds the pre-licence for the 26 MW Cıngıllı Solar Power Plant Project in the central province of Niğde, Turkey.Polat Enerji, with a net...

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  • The Ikitelli Integrated Health Campus PPP Project scoops another award!

    After receiving Europe’s “PPP Deal of the Year” award with the Ikitelli Integrated Health Campus PPP Project in January by Project Finance International (PFI), Bezen & Partners doubles the award this month with “European Social Infrastructure Deal of the Year” ...

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  • Proposed Amendments to the Value Added Tax Law

    The proposal for “The Law Concerning Certain Changes to The Value Added Tax Law and Certain Statutory Decrees” (the “Proposal”) has been brought before the Turkish Grand National Assembly for review.The Proposal includes important changes intended...

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  • B&P Wins the Mondaq Contributor With Most Popular Article in Turkey Award for February 2018

    For the second year in a row, Bezen & Partners has won a Top Communicator Award from Mondaq. Bezen & Partners was named “Contributor With Most Popular Article in Turkey” in February 2018.  The article that clinched the ...

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  • The ICC’s Expedited Procedure Provisions Explained

    The Rules of Arbitration of the International Chamber of Commerce (the “ICC Rules”) in force as of 1 March 2017 offer access to simplified arbitration proceedings under the new Expedited Procedure Provisions of Article 30 and Appendix IV.The Expedited Procedu...

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  • We have been shortlisted for the Project Finance Deal of the Year: Europe – in the IFLR European Awards 2018!

    Bezen & Partners has been shortlisted for the "Project finance deal of the year" with the "İkitelli Integrated Health Campus PPP Project" at the upcoming IFLR European Awards. The awards, presented by the International Financial Law Rev...

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  • Bezen & Partners Wins Two Bonds & Loans Turkey Awards

    Bezen & Partners was honoured two times at the Bonds & Loans Turkey Awards on 15 February 2018 in Shangri-La Bosphorus, Istanbul for outstanding work completed in 2016 and 2017. The Bonds & Loans Turkey Awards is “the only ceremony to recognise and celebra...

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  • Special Reporting Requirements Introduced For Foreign Currency Borrowings

    BackgroundThe Central Bank of the Republic of Turkey’s (“CBRT” or the “Central Bank”) establishing legislation was amended in November 2017 to provide broad information gathering powers to the Central Bank o...

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  • B&P Acts as the Advisor of QNB Finansbank on the Refinancing of the Espark Shopping Centre in Eskişehir

    Bezen & Partners has acted as the advisor of QNB Finansbank A.Ş. in relation to a EUR 60 million refinancing facility for the Espark Shopping Centre in Eskişehir, Turkey. The Espark Shopping Centre is managed by ECE Türkiye Proje Yönetimi A.Ş. which has been established by the ...

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  • Amendments to Decree No. 32 Regarding the Protection of the Value of the Turkish Lira

    I. IntroductionThe Council of Ministers’ has recently adopted changes to Decree No. 32 Regarding the Protection of the Value of the Turkish Lira (“Decree No. 32”) which governs the general currency control and capital flows regime of th...

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  • B&P advises Turkey-based dried fruit, nuts and seeds producer Peyman Kuruyemis

    Bezen & Partners has advised one of the leading Turkish producers of dried fruit, nuts and seeds producer Peyman Kuruyemiş A.Ş. in the expansion of its business with a €32 million loan from the EBRD.The EBRD loan will allow Peyman, owned by Bridgepoint, a major international p...

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  • Amendments to the Electricity Market Licensing Regulation

    The Energy Market Regulatory Authority (“EMRA”) has issued further changes to the Electricity Market Licensing Regulation published in the Official Gazette dated 2 November numbered 28809 (the “Licensing Regulation”) which had already se...

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  • We have been shortlisted for the Law Firm of the Year: Turkey – in the Lawyer European Awards 2018!

    Bezen & Partners has been shortlisted for Law firm of the Year: Turkey by The Lawyer European Awards 2018.Bezen & Partners was selected a...

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  • New Crowdfunding Legislation Enters Into Force

    The Turkish Parliament has recently passed new legislation intended to bring the beginnings of the long-awaited legislative framework for crowdfunding.Blanket Law numbered 7061 which, amongst others, introduced several amendments to the Capital Markets Law came into force on 5 December 2...

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  • The Liberalisation of Turkish Railways

    The Legal BackgroundThe Law on the Liberalisation of Turkish Railway Transportation numbered 6461 (the “Law”) came into force on 1 May 2013 with the ambitious goal of liberalising the railway industry and increasing efficiency and quality thr...

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  • New Electronic System for Importation Transactions

    The Turkish Ministry of Economy (“Ministry”) has recently brought into effect a new electronic system for the importation of goods.The Communiqué No 2017/3 on Electronic Applications for Importation Procedures (the "Communiqué

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  • B&P Advises EBRD in Turkish Honey Company Altıparmak Financing

    Bezen & Partners has advised the European Bank for Reconstruction and Development (EBRD) on a TRY 20 million (€4.4 million equivalent) financing of Turkey’s leading honey company Altıparmak Gıda Sanayi ve Ticaret A.Ş. (“Altıparmak Gıda...

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  • Significant Amendments to the Communiqué on Real Estate Certificates

    The Capital Markets Board (“CMB”) has recently effected changes to its rules on real estate certificates.The amendments to Communiqué No VII-128.2 on Real Estate Certificates (the "Real Estate Certificates Communiqué")...

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  • B&P advises consortium on İkitelli Integrated Health Campus PPP Project

    Bezen & Partners (B&P) has advised the sponsors’ group consisting of a Japanese and Turkish consortium on the US$ 1.456 billion financing of the İkitelli Integrated Health Campus PPP Project, together with Willkie Farr & Gallagher LLP, which has received Europe’s &ldquo...

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  • Bezen & Partners attended the Turkish – Russian Business Forum organised by the Foreign Economic Relations Board (DEİK)

    Bezen & Partners attended the Turkish – Russian Business Forum organised by the Foreign Economic Relations Board (DEİK) in Izmir in August 2017. The partners and associates of the firm had opportunity to discuss business topics with Turkish and Russian players. Members of our firm al...

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  • B&P advises First Solar in its sales collaboration deal with Zorlu Holding A.Ş

    Bezen & Partners has advised First Solar, a leading global provider of photovoltaic (“PV”) solar systems, on its sales collaboration arrangement with Turkish conglomerate Zorlu Holding A.Ş. The team was led by Senior Partner Yeşim Bezen and Partner Murat Soylu along with other...

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  • B&P Deal for First Ever JOLCO Wins Finance Deal of the Year

    In an earlier article, Bezen & Partners disclosed and described their role in the JOLCO transaction. Bezen & Partners acted for China Aircraft Leasing Group Holdings Limited (“CALC”) together with Watson Farley & Williams LLP who acted as international counsel to CALC. T...

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  • Bezen & Partners Acts for a Turkish Company on a Hotel Franchise Agreement with an International Company

    Hyatt International has been working diligently to expand by introducing its new signature brand, Hyatt Centric. The new brand currently has 14 properties and will be welcoming additional hotels to its portfolio in both international and domestic destinations. The brand is location focused, hen...

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  • Bezen & Partners Participates in Comprehensive Geothermal Energy Transparency Guide

    The Icelandic law firm BBA, in partnership with 16 different law firms, has published a handbook called the Geothermal Transparency Guide. The publication is intended to provide an overview of the legal and regulatory framework governing exploration, exploitation and production of electricity f...

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  • Bezen & Partners - List of Turkish Law Firms Published by the Russian Ministry of Foreign Affairs

    We have been working diligently to keep strong ties with Russia by visiting our business partners in Moscow but also by conducting research and applying to various institutes in Russia in order to showcase the work and the relationship we have with our Russian clients. In the fall of 2016, we a...

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  • The Elazığ Integrated Health Campus PPP Project

    The end of November also marked the financial close of the Elazığ Integrated Health Campus PPP Project, a landmark project for Turkey and Bezen & Partners, on which the team provided advice to the sponsors. The Elazığ Hospital PPP Project is an urban hospital project of the Ministry of Heal...

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  • Bonds & Loans Awards 2017 - Finalists

    Every year Bezen & Partners attends and sponsors the Bonds, Loans & Sukuk Turkey Conference hosted by GFC Media Group at the Shangri-La Bosphorus, Istanbul. The conference is followed by the Bonds & Loans Awards where an array of landmark deals are recognised for their achievements....

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  • The Lawyer European Awards 2017

    In December the firm completed and submitted entries for The Lawyer European Awards 2017 hosted by The Lawyer in London, England. Bezen & Partners attends this highly esteemed event every year. Last year the firm went home with the award for the European energy, infrastructure and projects ...

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  • Bezen & Partners visits Moscow

    With many esteemed clients and friends in Russia, Bezen & Partners found it fit to pay a visit to Moscow, a city of vitality and bustling creative energy. The firm works closely with Russia and other CIS based companies. Among these clients are subsidiaries of Rosatom and other leading comp...

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  • Bezen & Partners visits Tehran

    Followed by Mr. Bezen’s trip to Shanghai, our corporate partner Murat Soylu and senior associate Zekican Samlı set out on a trip to the historic city of Tehran, where they attended the Renpower Iran 2016 – Infrastructure, Power & Renewable Energy Investment Conference. The Conf...

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  • Bezen & Partners visits Shanghai

    November was an eventful month for the Bezen & Partners team. To kick off the month, our partner Serdar Bezen travelled to the bustling city of Shanghai, China to meet with both current and potential clients. The trip may have been short but it was certainly memorable. Marketing trips of th...

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  • Bezen & Partners Acts for CALC in its Closing of First Ever JOLCO

    China Aircraft Leasing Group Holdings Limited (“CALC”), the largest independent operating aircraft lessor in China, has closed its first Japanese Operating Lease with a Call Option (“JOLCO”) financing in relation to two new Airbus A320 delivered to Pegasus Airlines in Ju...

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  • Bezen & Partners Advises EBRD in Subscription for a Bond Issuance

    The European Bank for Reconstruction and Development (“EBRD”) is investing in many transactions around Turkey in order to strengthen the country’s capital markets. With this transaction in particular the bank is investing in Turkey’s longest tenor corporate bond. EBRD ha...

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  • Bezen & Partners Cocktail 2016

    After great feedback from last year’s event, Bezen & Partners decided to host its second annual cocktail reception on 15 November. Bezen & Partners and its clients from all over Turkey and the world gathered for a night of jazz music, food and catching up. This year the reception ...

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  • Bonds, Loans & Sukuk Conference 2016

    This year at the Bonds, Loans & Sukuk Turkey 2016 Conference held on 16th & 17th November, Bezen & Partners attended and sponsored the event as every year. Our partners and a couple key associates attended the conference, where Yeşim Bezen was a moderator for the panel entitled: &l...

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  • Bezen & Partners New Year Dinner 2016

    This year, to ring in the New Year, Bezen & Partners had their annual New Year’s dinner at the Egeli Taverna in Tarabya, Istanbul. It was a night full of raki, delicious mezes, laughter and lots of dancing. The Bezen team knows how to have fun and celebrate after a long year of hard w...

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  • The Lawyer European Awards 2016

    As we do every year, Bezen & Partners had the pleasure of attending The Lawyer European Awards 2016. This year our partners, Yeşim Bezen and Aykut Bakırcı attended the event to represent the firm. Bezen & Partners was awarded the European energy, infrastructure and projects deal of t...

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  • The 4th Investing in Turkey Forum - London

    On 15 April 2016, Bezen & Partners attended the 4th Investing in Turkey Forum at the Waldorf Hilton Hotel in London. Yeşim Bezen, senior partner of the firm, participated in the panel discussion regarding the successful implementation of PPP’s. Following the panel discussion, Mrs. Be...

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  • Bonds, Loans & Sukuk Conference 2015

    Last year’s Bonds, Loans and Sukuk Turkey 2015 held on the 11th and 12th of November, was a huge success with attendees who flew in from all over the world. Our very own Partner, Yeşim Bezen, was a moderator for the Panel: Attracting ECAs, international and institutional...

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  • Bezen & Partners Cocktail 2015

    Last year in October, Bezen & Partners hosted its first cocktail at the Conrad Hotel – Bosphorus Lounge in Beşiktaş, Istanbul. Aside from our own Partners and Lawyers we had guests from all over Turkey and abroad attend the event for some drinks and catching up. It was a night ...

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