Category: Turkiye

  • Bozkurt Bozkurt Opens Office in Washington, DC

    Bozkurt Bozkurt opened an office in Washington, DC, on August 15, 2023. The new office will be headed by Partner Gokhan Bozkurt.

    According to the firm, the new office will “allow the firm to deepen and strengthen its collaborations with clients and colleagues in the world’s capital city on Turkish law-related cross-border disputes and corporate investigations.”

    After opening an office in New York in 2021 (as reported by CEE Legal Matters on September 15, 2021) this new location is the firm’s second in the United States. 

    “Many leading American companies have a longstanding presence and fast-growing investments in Turkiye,” Partner Gokhan Bozkurt commented. “We intend to bolster further relationships with clients and colleagues in the country’s capital through the DC office. Our firm will continue to represent and advise US-based companies and individuals in their cross-border Turkish law-related disputes, domestic arbitrations, internal investigations, and criminal proceedings.”

  • Turunc Advises Bogazici Ventures on Investment in Hungri Games

    Turunc has advised Bogazici Ventures on its investment in Hungri Games. Ataergin Tanriverdi reportedly advised Hungri Games.

    Hungri Games is a gaming studio focused on mid-core and core games.

    According to Turunc, “Triple Dragon and Sebastien Borget, co-founder and COO of The Sandbox decentralized metaverse, are among the investors of Hungri Games.”

    Bogazici Ventures is a Turkish Capital Markets Board-regulated venture capital fund focused primarily on fintech, health tech, retail tech, and gaming.

    The Turunc team included Managing Partner Kerem Turunc, Partners Esin Camlibel and Yasemin Erden, and Associates Beste Yildizili Ergul, Naz Esen, Ovgu Kopal, Canberk Taze, and Baran Ezeli.

  • Paksoy Advises Erciyas Celik Boru on TRY 300 Million Inaugural Sukuk Issuance

    Paksoy has advised high-pressure steel pipe manufacturer Erciyas Celik Boru on its TRY 300 million inaugural issuance of Islamic bond certificates.

    According to the firm, Erciyas is a leading industrial enterprise in Turkey, and the flagship company of Erciyas Holding. It is a manufacturer and supplier of high-pressure steel pipes for gas and oil pipeline projects in various countries, including Europe, the US, and Canada.

    The Paksoy team was led by Partner Sera Somay and included Senior Associate Merve Kurdak and Associate Bengisu Yilmaz.

  • Nigar Gokmen Makes Partner at Esin Attorney Partnership

    Former Senior Associate Nigar Gokmen has been promoted to a Partner position with the Esin Attorney Partnership, the Turkish affiliate of Baker McKenzie. Gokmen has also become the firm’s new Head of Energy, Mining & Infrastructure, and Real Estate practices.

    Gokmen has been with the Esin Attorney Partnership since 2020. Prior to that, she spent three years with the Cakmak Attorney Partnership as a Senior Associate and, earlier, over seven years as a Senior Associate with White & Case.

    “Embracing my new role as a Partner, I am grateful to work alongside our exceptional team and eager to contribute to our firm’s ongoing success with fresh perspectives,” Gokmen commented.

  • Two-Minute Recap of Recent Developments in Turkish Personal Data Protection Law – July 2023

    In July 2023, the Turkish Personal Data Protection Authority (the “DPA”) issued a decision, a bulletin and published nine data breach notifications.

    The DPA also announced the dates for the forthcoming II International Personal Data Protection Congress, set for 16-17 November 2023. Jointly organised by the DPA and Bilkent University Faculty of Law, the main theme of this year’s event is “Privacy: A Priority in the Digital Age”. The congress will offer various types of sessions, including international, plenary, and simultaneous hybrid sessions conducted in Turkish and English as the official languages.

    Attention for Data Controllers: Threshold Value for VERBIS Obligation Raised to TRY 100 Million.

    On 25 July, with the decision of the DPA published in the Official Gazette, the financial balance threshold considered for the obligation to register in the Data Controllers Registry (“VERBIS”) has been raised from TRY 25 million (approx. EUR 855,000) to TRY 100 million (approx. EUR 3,420,000). 

    The DPA’s decision numbered 2018/87, which governs the VERBIS registration obligation, has been revised to update the threshold related to the annual total of the financial balance sheet. Previously, local data controllers with (i) fewer than 50 employees annually and (ii) an annual total on their financial balance sheet of less than TRY 25 million were exempted from the VERBIS registration obligation, unless they primarily process sensitive personal data. With this recent decision, the threshold for the exemption related to the balance sheet has been increased from TRY 25 million to TRY 100 million.

    In order to calculate the annual financial balance sheet:

    • There must be a completed year;
    • The financial balance included in the financial statements attached to the income or corporate tax declaration given annually submitted to the competent public authority for this completed year should be evaluated, and;
    • The total amount that is equal in the “assets” or “liabilities” section of this financial balance information should be considered.

    Regulation on Advertising and Promotion related to Health Services is in Effect!

    On 29 July, the Ministry of Health introduced the “Regulation on Promotional and Informative Activities in Health Services” (the “Regulation”), with its primary purpose being the regulation of advertising, promotional, and information activities related to health services. The Regulation outlines the scope of these activities, sets forth the principles that must be complied with, and determines the sanctions to be imposed in cases of non-compliance. 

    Key points addressed within the Regulation include:

    • A prohibition on both implicit and explicit advertising in the delivery of health services;
    • A set of rules and principles governing promotional and informative activities for health services and sanctions for non-compliance;
    • A provision stipulating that the activities should be carried out in accordance with the Law on the Protection of Personal Data numbered 6698.

    First Issue of DPA Bulletin Published!

    The first issue of the DPA Bulletin, prepared to increase awareness and share information about the protection of personal data, has been published. This initial edition covers the subject of generative artificial intelligence, including global developments, and highlights current developments made during the period from January to June 2023. It has been announced that the bulletin is planned to be published quarterly. Below you can find one of the interesting topics from this new Bulletin:

    The DPA asked the ChatGPT:

    In this Bulletin, the DPA raised a question to ChatGPT concerning the importance of privacy in generative AI implementations. In response, ChatGPT emphasised that this technology poses a significant risk to privacy, highlighting the necessity for enhanced transparency.

    ChatGPT’s response highlights the crucial importance of privacy in the age of Generative AI. By using vast databases containing millions of data points from both public and private sources, generative artificial intelligence poses a significant risk to individual privacy. As per the generated response of ChatGPT, to effectively addresses these challenges (i) enhanced transparency regarding the training and usage of AI models, and (ii) implementing policies to ensure responsible data usage and developing ethical guidelines for AI practices are necessary.

    The DPA announced the following data breach notification in July:

    • Data controller: Oden İnşaat Turizm ve Ticaret
      • Affected Data Subjects: Customers
      • Affected Personal Data: Identity, Communication, Finance and Customer Transaction Data
      • Number of Data Subjects: 155
    • Data controller: Anadolu Isuzu Otomotiv Sanayi Ticaret
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity and Communication Data
      • Number of Data Subjects: 1,113
    • Data controller: Çelik Motor Ticaret
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity and Communication Data
      • Number of Data Subjects: 2,242
    • Data controller: Geberit Tesisat Sistemleri Ticaret
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity and Communication Data
      • Number of Data Subjects: 743
    • Data controller: Mais Motorlu Araçlar İmal ve Satış
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity and Communication Data
      • Number of Data Subjects: 4,776
    • Data controller: Schneider Elektrik Sanayi ve Ticaret
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity and Communication Data
      • Number of Data Subjects: 12,249
    • Data controller: Toyota Türkiye Pazarlama ve Satış
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity and Communication Data
      • Number of Data Subjects: 286
    • Data controller: Vodafone Dağıtım Servis ve İçerik Hizmetleri
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity, Communication and Personal Information Data
      • Number of Data Subjects: 26,698
    • Data controller: Vestel Ticaret
      • Affected Data Subjects: Employees
      • Affected Personal Data: Identity and Communication Data
      • Number of Data Subjects: 7,560

    By Ceren Ceyhan, Associate, Hatice Nur Arslan, Junior Associate and Bahar Bozdemi, Legal Trainee, Kinstellar

  • BASEAK Advises Koc Medical on Acquisition of Bicakcilar

    Dentons Turkish affiliate Balcioglu Selcuk Ardiyok Keki Attorney Partnership has advised Koc Medical on its acquisition of Bicakcilar Global Tibbi Urunler and its fully owned subsidiary Bicakcilar Tibbi Cihazlar.

    Koc Medical is a subsidiary of Koc Holding and the sole shareholder of Koc Yasa Cok Yasa Medical, a health technology company. 

    Bicakcilar is a medical equipment manufacturer in Istanbul.

    The BASEAK team included Partner Selim Keki, Senior Associate Aysegul Sifaver, and Associate Gozde Ozturk.

    BASEAK did not respond to our inquiry on the matter.

  • Turunc and Caliskan Okkan Toker Advise on Arya’s Investment in Vispera

    Turunc has advised the Arya Women Investment Platform on its investment in Vispera. Caliskan Okkan Toker advised Vispera.

    Vispera is an image recognition and analytics company providing retailers and suppliers with store and team execution insights.

    The Arya Women Investment Platform is an investment group focused on women founders.

    The Turunc team included Managing Partner Kerem Turunc, Partner Esin Camlibel, and Associates Naz Esen, Beste Yildizili Ergul, Ovgu Kopal, Canberk Taze, and Baran Ezeli. 

    The Caliskan Okkan Toker team included Partner Enver Sezer Caliskan, Senior Associate Yaprak Kucukoglu Tezel, and Associate Basak Kandemir Emiroglu.

  • Paksoy Advises IFC, AIIB, and DFC on Akbank’s USD 300 Million Subordinated Debt Placement

    Paksoy has advised investors IFC and the Asian Infrastructure Investment Bank on Akbank’s USD 150 million issuance of sustainable tier-2 notes and the DFC on Akbank’s USD 150 million issuance of gender tier-2 bonds. Allen & Overy reportedly advised Akbank.

    IFC, a member of the World Bank, is a global development institution focused exclusively on the private sector in developing countries.

    The Asian Infrastructure Investment Bank is a multilateral development bank and international financial institution.

    The US’ International Development Finance Corporation is a development finance institution and agency of the United States federal government.

    Akbank, founded in 1948, is one of Turkey’s banks. Listed on the Borsa Istanbul, its largest shareholders are members of the Sabanci family.

    The Paksoy team included Partner Omer Collak, Senior Associate Merve Kurdak, and Associate Bengisu Yilmaz.

  • Turunc Advises BV Dijital on Cooperation Agreement with Waves Tech

    Turunc has advised BV Dijital on its cooperation agreement with Waves Tech including the formation of a new entity focused on blockchain technologies.

    BV Dijital is focused on decentralized finance and crypto assets, using new technologies such as Web3, the metaverse, and NFTs.

    Waves Tech is a community-based stack of decentralized open-source technologies with a focus on crypto asset/custom token issuances, transfers, and trading on blockchain.

    The Turunc team included Managing Partner Kerem Turunc, Partner Iltem Dokurlar, and Associate Naz Esen.

  • The Digital Era Begins for Unlicensed Electricity Generation Applications

    The Regulation on the Amendment (“Amendment Regulation”) to the Regulation on Unlicensed Electricity Generation in the Electricity Market (“Regulation”) was published in the Official Gazette dated 29 July 2023 and numbered 32263 and entered into force on the same date.

    What the Amendment Regulation Brings?

    With the Amendment Regulation, it has been added to the Regulation that the application procedures for unlicensed electricity generation will be carried out electronically and the information regarding the connection capacities of the transformer substations will be announced on the internet within the first 15 days of each month.

    In this respect, pursuant to the Provisional Article 1 incorporated into the Regulation by the Amendment Regulation, it has been held that new unlicensed generation applications will not be received by the relevant grid operators from August 1, 2023 until September 30, 2023 in order to carry out infrastructure works for the preparation of the new electronic application system.

    By Asli Kinsiz, Senior Associate, Selen Akgun, Associate, and Mehmet Oguz Koc, Trainee Lawyer, Moral, Kinikoglu, Pamukkale, Kokenek