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The Law on Movable Pledge for Commercial Transactions (“Law”) was published in the Offical Gazette on 28.11.2016. The Law will repeal the current Commercial Enterprise Pledge Law numbered 1447 and be in effect as of 1 January 2017. Various revisions are introduced to the movable pledge are with the new Law. Together with this issues that may arise due to the application of the Law are expected to be resolved with the secondary legislation. The purpose and scope of the law The Law aims to extend the use of moveable pledge without delivery as a security, to widen the scope of the

The Turkish Competition Authority decided that the 12 banks operating within Turkey breached the Article 4 of the Law on the Protection of Competition numbered 4054 ( “Law”) with its decision numbered 13-13/198-100 and dated 08.03.2013 and as a result the administrative fines set out within the decision shall be paid pursuant to this decision. The aforementioned decision was upheld upon the review by the 13th Chamber of the Council of State and the upholding decision was also finalized. Therefore, cause of action has arisen for real and legal persons that have received a loan, obtained depository or credit card services

The trade volume of electronic commerce has been increasing incrementally in our day. As per the statistics, almost 70% of the consumers in USA and %35 of the consumers in Europe use internet for shopping. Accordingly, the number of companies operating within the area of e-commerce and their size increased rapidly in the past 10 years. The Alibaba Group IPO which took place in 2014 broke an unbeaten record by reaching to 25 billion USD and it is still the largest IPO globally. In parallel with the developments above, the consumers altered their habits and thus the volume of the e-commerce

Provision are set out under the Law on the Protection of Consumers (“LPOC”) numbered 6502 regarding distance contracts. LPOC shall be applied where one of the parties is a consumer as defined by the law. There are detailed regulations within the scope of the LPOC in relation to the consumer’s right of withdrawal and the terms and the period for using the right is clearly set out. Understanding these regulations is essential for both consumers that use e-commerce websites for online shopping and sellers and providers which are defined as real and legal persons providing goods or services to consumers for

Web sites are developed substantially in our day and hence in the past years many large or small corporations, establishments, associations and persons etc. became web site owners increasingly, even the Turkish Commercial Code[1] sets out provisions in terms of the web sites that may be used by the companies. Within this fast-moving area “com” extension became inadequate over time and various risks surfaced for the owners of registered trademarks as the number of web sites that can be registered increased with new registrable extensions. The third parties may use trademarks (including registered) as a domain name via a different extension

The construction & real estate sector is one of the largest contributors of the economic growth of Turkey during the period of the past 10-15 years. The legal regulations enabling and simplifying the acquisition of real estate by foreigners, urban renewal and large real estate projects together with high yield ratios also made a positive impact on the foreign investments that were made to the Turkish real estate market by the investors. Brief information will be provided below in relation to the legislation in respect to the acquisition of real estate by foreigners. The Legal Restrictions The reciprocity condition which was applied