Komstroy Decision: End of an Era for Intra – EU ECT Arbitration or Not?
Introduction The Court of Justice of the European Union (“CJEU”) in the Republic of Moldova v. Komstroy LLC (“Komstroy”) rendered a contentious decision which is likely to create controversies on intra-EU arbitrations governed under the Energy Charter Treaty (“ECT”).[1]
EFET General Agreement Concerning the Delivery and Acceptance of Electricity
Introduction The European Federation of Energy Traders (“EFET”) is an Amsterdam-based organization established in 1999 for promoting competition, transparency and open-access in the energy sector.[1] In addition to its activities concerning energy regulation and fostering competition in the energy sector, EFET has published standard agreements for wholesale electricity and gas trading. EFET’s General Agreement Concerning …
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Coca Cola’s Commitments in the Recent Competition Investigation
Introduction A commitment procedure has only recently been introduced to Turkish competition law practice. The procedure was instituted on 16.06.2020 with the amendment to Law No.4054 on the Protection of Competition, and has been utilized for over a year now. In this brief time frame, although the recent Coca Cola Satış ve Dağıtım A.Ş. (“CCSD”) …
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UNCITRAL Expedited Arbitration Rules
Introduction At its fifty-first session in 2018, the United Nations Commission on International Trade Law (“UNCITRAL”) agreed that Working Group II should be mandated to take up issues relating to expedited arbitration.[1] As seen in many arbitral institutions, expedited arbitration rules set out simplified procedures which are aimed at reducing the time of proceedings as …
The Start of the Legal Period for Electronic Notifications in the Light of Judicial Decisions
Electronic notification to certain persons, including attorneys registered with the Bar Association, has become obligatory in accordance with the Article 7/a of the Notification Law numbered 7201 (“NL”). The procedures and principles regarding electronic notification are outlined in the Electronic Notification Regulation (“Regulation”) in the Official Gazette dated 6 December 2018 and numbered 30617.
Tax Consequences of Failure to Fulfill Capital Commitment Payable
Trading companies are established with the capital that the founding shareholders have committed to put into the company; this capital is essential for the establishment of trading companies. It is the most important financial duty of the shareholders to provide the capital they have committed to bring to the company in full and on time. …
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Null and Void Resolutions of the General Assembly in Joint Stock Companies
Introduction In general, cases of invalidity of general assembly resolutions fall into the categories of non-existence, nullity and annullability. The scope of this Newsletter is limited to null and void resolutions of general assemblies established under Article 447 and related provisions of Turkish Commercial Code No. 6102[1] (“TCC”).
General Assembly Summons Lawsuits
Introduction Pursuant to Turkish commercial law legislation, the ordinary general assembly in joint stock companies shall be held within three months following the end of each fiscal year.[1] According to Turkish Commercial Code numbered 6102 (“TCC”), the authority (Article 410 of the TCC) and duty (Article 375 of the TCC) to convene the general assembly …
Settlement Regulation Enters into Force
Introduction The first steps towards introducing settlement as a practice in Turkish competition law were taken in June 2020 in line with the amendments to Law No. 4054 on the Protection of Competition (“Law No. 4054”).[1] This brings Turkish competition law into line with that of the European Union and many other countries.[2] The details …
Institutionalization in Family Businesses and Family Constitution
Introduction It is a well-known fact that the majority of companies operating in Turkey and around the world are family businesses, and few of these companies are able to transfer their assets to future generations. In order for a family business to successfully manage this, it is necessary and substantial to establish a solid corporate …
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