Acar & Ergonen Law Firm

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Liabilities of members of board of directors in joint stock companies

April 18 2016 A joint stock company incorporated under Turkish law is managed and represented by a mandatory body of the company, its Board of Directors. Members…

Capital contributions in joint stock companies

July 24 2017 Under the Commercial Code 6102, shareholders must contribute capital to commercial companies incorporated by law (the so-called 'contribution…

New law on pledges over movable assets in commercial transactions

February 10 2017 In an effort to improve collateralisation options and facilitate the access of small and medium-sized businesses to financing, Parliament recently…

Law on mandatory use of Turkish by commercial enterprises still applied

August 29 2016 Law 805 on the Mandatory Use of the Turkish Language by Commercial Enterprises entered into force in April 1926 and still applies today. Under the…

Amendments to Commercial Code introduced

May 28 2018 The Law amending Certain Laws to Improve the Investment Environment was published in the Official Gazette on March 10 2018 with different enforcement…

Recent amendment to rent increase threshold

February 8 2019 Turkey recently amended Article 344 of the Code of Obligations, which regulates the upper limit of rent increases for residences and workplaces with a…

Central Bank announces 2019 default interest rate for commercial agreements

January 21 2019 Each January, the Central Bank determines and announces the default interest to be applied where parties fail to agree on such interest or when their…

Mandatory mediation process for commercial disputes introduced

January 14 2019 The Law regarding Procedures for Initiating Legal Proceedings for Monetary Claims deriving from Subscription Agreements, which introduces a mandatory…

Communique on procedures and principles regarding capital loss and insolvency introduced

October 12 2018 The Communique on the Procedures and Principles regarding the Application of Article 376 of the Commercial Code recently came into force. It…

Recent amendments to Law on Movable Pledges in Commercial Transactions

July 2 2018 The Law Amending Certain Laws to Improve the Investment Environment recently came into force to boost Turkey's investment environment. The law has…