Paksoy, working with Willkie Farr & Gallagher, has advised Groupe Cahors on its acquisition of Schneider Electric companies that operate transformer plants in Turkey and Poland. Baker McKenzie Turkish affiliate Esin Attorney Partnership reportedly advised the sellers. Volt Associes and Kinstellar Turkish affiliate Gen Temizer Ozer reportedly advised the lenders.
On 5 January 2023, the "Procedure for Organisation and Maintenance of Military Registration of Conscripts, Persons Liable for Military Service and Reservists," approved by the Resolution of the Cabinet of Ministers of Ukraine No. 1487 dated 30 December 2022 ("Procedure"), came into effect. The Procedure establishes changes regarding the military registration of Ukrainians, including new obligations for employers.
On December 27, 2022, Dentons announced that aiMotive's sale to Stellantis (as reported by CEE Legal Matters on November 30, 2022) had closed.
On December 28, 2022, Baker McKenzie announced that Accenture’s takeover of ARZ Allgemeines Rechenzentrum (reported by CEE Legal Matters on June 10, 2022) had closed.
“We aim above the mark to hit the mark.” – Ralph Waldo Emmerson. Choosing a profession is always a pivotal point in everyone’s life. Once we set our minds and find our path, we try to dedicate all our energy and effort to making the best of it. The 21st century, however, has already left a mark on all our careers with its constant demand for adapting to new needs, circumstances, and business and work climates.
On 11 December 2022, Law No.2759-IX of Ukraine "On Amendments to Certain Legislative Acts of Ukraine on Preventing and Countering Mobbing (Hostile Environment)" dated 16 November 2022 (Law) came into effect. Among other things, the Law: (i) provides the definition of "mobbing"; (ii) introduces new grounds for dismissal of employees in connection with mobbing; and (iii) guarantees compensation of moral damages for employees who have suffered from mobbing.
On December 1, 2022, SMM Legal announced that MOL's acquisition of Lotos Paliwa (reported by CEE Legal Matters on February 2, 2022) had closed. Subsequently, Baker McKenzie announced that Orlen Unipetrol's acquisition of Hungarian petrol stations from MOL (reported by CEE Legal Matters on February 1, 2022) had closed as well.
Law No. 7420 has made significant amendments related to tax legislation. These amendments cover: the introduction of a new tax treatment on capital reduction, a time extension for conversion to a currency-protected deposit account, an extension of the deadline for the tax benefits granted to individual participation investors (angel investors), income tax exemption for the portion of the meal costs paid in cash to employees that do not exceed TRY 51, and amendments to the tourism share rates.
The Central Bank of the Republic of Türkiye published the Guidelines on Correlating Business Models in the Field of Payments with Payment Service Types (“Guidelines”).
The Guidelines provide detailed explanations as to how payment services regulated under the Law No. 6493 on Payment and Securities Settlement Systems, Payment Services and Electronic Money Institutions (the “Law”) and the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (the “Regulation”) can be correlated with the business models in the field of payments, in order to ensure compliance with the regulations and uniformity in operating licenses to be granted by the CBRT for authorizations. You can access the Guidelines here.