Proposed Amendments to the Competition Act and the Consumer Affairs Act
Government launches public consultation on amendments to the Competition Act and the Consumer Affairs Act.
Quarterly Update on Trade Defense Cases in Turkey, June 2018
In Turkey, the authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio, is given to the Ministry of Economy ("Ministry"). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette. During the second quarter of 2018, the Ministry has initiated a …
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Turkish Competition Board Acknowledged that Reassessment of a Decision Must Not Harm the Appellant
A. Introduction The Competition Board ("Board") has recently published its reasoned decision[1] in its reassessment of the Turkish Pharmacists Association (Türk Eczacıları Birliği) ("TPA") case, following the annulment decision[2] rendered by the 13th Chamber of the High State Court ("High State Court"). The High State Court's ruling was made as a result of the TPA's …
Sayenko Kharenko advised Mriya Agro Holding
Sayenko Kharenko advised Mriya Agro Holding on the successful debt restructuring and subsequent sale Sayenko Kharenko has advised Mriya Agro Holding for several years in connection with USD 1.1 billion debt restructuring. 13 unsecured bank credits, 7 suppliers’ credits, 1 ECP programme and 2 issues of Eurobonds were restructured in a single secured debt instrument. …
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Bär & Karrer Advises Swiss Prime Site on its Rights Offering
On 28 September 2018, Swiss Prime Site, the largest publicly listed real estate investment company in Switzerland, completed a capital increase by way of a rights offering to its shareholders in the amount of approximately CHF 320 million. 97,7% of the shareholders of Swiss Prime Site exercised their subscription rights in the rights offering. The …
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Bär & Karrer Advises SIG Combibloc Group as Issuer and Onex as Selling Shareholder on the IPO of SI
SIG Combibloc, a leading provider of aseptic carton packaging solutions for the food and beverage industry, successfully priced its IPO and listed its shares on the SIX Swiss Exchange, where trading commenced on 28 September 2018. With a market capitalization of CHF 3.6 billion and a generating total gross proceeds of CHF 1.5 billion, this …
Bär & Karrer Advises the Joint Bookrunners in the Offering of an Aggregate of USD 8,000,000,000 Not
Nestlé Holdings, Inc. completed an offering of USD 1,000,000,000 3.100% Notes due 2021, USD 1,500,000,000 3.350% Notes due 2023, USD 900,000,000 3.500% Notes due 2025, USD 1,250,000,000 3.625% Notes due 2028, USD 1,250,000,000 3.900% Notes due 2038 and USD 2,100,000,000 4.000% Notes due 2048. The notes were offered and sold by the Joint Bookrunners in …
Recent Developments on the Enforcement and Bankruptcy Law and Concordat
Introduction A significant part of the recent legislative amendments to improve the investment environment are made to Enforcement and Bankruptcy Law (“EBL”) numbered 2004. The amendments made within the scope of Law numbered 7101 on the Amendments in Enforcement and Bankruptcy Law and Certain Laws[i] (“Law numbered 7101”) and the Law numbered 7078 on the …
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Regulatory Approaches to Crowdfunding in European Union
Introduction Crowdfunding has finally entered into Turkish legislation through Omnibus Law no. 7061 dated 5 December 2017, by way of amending certain provisions of Capital Market Law numbered 6362. Although the amendments cover the mainframe of crowdfunding in a very basic form, detailed secondary legislations and policies are needed to implement crowdfunding as a successful …
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Challenging Arbitrators and LCIA Challenge Decisions
Introduction It is essential that all arbitrators are and remain, independent and impartial throughout the arbitration. Almost all institutional rules contain a provision requiring arbitrators to be impartial and independent. Examples include Article 14 of the ICC Rules where “lack of impartiality or independence” is a ground for challenging the arbitrators and Article 10 of …
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