We are honored to bring to you our new book "Newsletter 2016". Since 2010, at the end of each year we compiled the articles that are posted monthly on our website in a book to allow our readers an outlook on the year's key legal developments. This book of articles now published for the seventh year, has attracted growing attention from our clients, business partners and fellow practitioners over the years. While the book was well received by many of the readers, we are highly encouraged to keep the impetus and further develop and expand our work. It is a pleasure to see that the articles are frequently cited in a number of scientific studies and they are now considered reliable academic resources. This gives us pride and even greater motivation. We continued the tradition of the past years for this publication of Newsletter 2016. In 2016, our team wrote on a wide variety of legal disciplines some of which are in new areas of law developed in parallel to meet the needs of the today's business. Further we did not leave out the importance of comparative law and our team researched on the developments in foreign legislations including the European Union. In this seventh book, you will find articles on corporate law issues implementation of which we intend to shed some light on such as abuse of exercise of dominant position in joint stock companies, the concept of "important reason" in share transfer restrictions and the right to request information of the board directors. The increase in Public-Private Partnerships (PPPs) in the recent years inspired us to write about our considerable experience both in Turkey and a recent PPP in Ecuador where we acted as advisors from a comparative law perspective. Our team wrote extensively on the much discussed contemporary issues in competition law this year such as the cinema services sector report, passing-on defense and indirect purchaser rule in compensation claims, and price/margin squeezing and decisions of the Turkish Competition Board on the Association of Electricity Distribution System Operators (Elder) and Yemek Sepeti, an online food takeaway company. As a GAR100 listed law firm with a proven track record in international arbitration, it was inevitable for us to write on the landmark decision of Swiss Supreme Court for stay of the arbitration pending compliance with multi-tiered arbitration clause. In 2016, we witnessed a lot of amendments introduced to arbitration rules. Therefore our arbitration team enjoyed writing on Istanbul Arbitration Center (ISTAC) Rules, ICC Rules on expedited procedure and document production requests under the IBA Rules. In energy law, we particularly focused on writing a series of articles on the legislative amendments made in the licensed and unlicensed energy generation facilities and renewables. As customary over the years, we wrote on contemporary issues in capital markets, contract law (law of obligations), labor law and affairs, intellectual property, civil law and bankruptcy and collection litigation as well as tax law. The chapter on Legal Developments provides a global insight into material developments in international agreements, laws, regulations, communiques as well as a synopsis of the decisions of the Turkish Competition Board and the Privatization Authority, and a list of energy legislation made effective in 2016 and extracts of key court precedence. We believe that this last chapter portrays an executive look on legal developments of 2016.(ÖNSÖZDEN)SUMMARY OF CONTENTSCOMMERCIAL LAWConsequences of Non-Attainment of Guaranteed Minimum Order in Agency and Distribution ContractsEscrow Agreement in Turkish Law and Its Application in Mergers & AcquisitionsTransfer of Assets in Company Spin-offsUnlawful Exercise of DominanceCross Shareholding in Group of CompaniesImportant Principles regarding Dividends in Joint Stock CompaniesLifting the Corporate Veil: An Exceptional Concept of the Shareholders' Limited Liability PrincipleOptions and Similiar Rights of Shareholders in respect of the Shares of Joint Stock CompaniesNon-Compete Clauses in Share Transfer Agreements Review of the Court of Cassation's DecisionImportant Reason in Terms of Share Transfer RestrictionsIndemnity Clauses under Share Purchase AgreementsRight to Request Information and Examination of the Members of the Board of DirectorsSingle Shareholder Joint Stock CompaniesShare Transfers in Limited Liability CompaniesLatest Amendments to the Turkish Commercial Code and the Law on ChequesPUBLIC PRIVATE PARTNERSHIP (PPP)Healthcare PPP Projects: Funders' Direct AgreementsHealthcare PPP Projects: Payment Capacity of the Ministry of HealthA Brief Comparison between Ecuadorian and Turkish Public-Private Partnership ArrangementsCOMPETITION LAWCinema Services Sector Report of the Competition AuthorityPassing-On Defense and Indirect Purchaser Rule in Compensation Claims Arising from Competition LawPrice/Margin SqueezeRecent Problems in Electricity Distribution Sector: ELDER DecisionConfidentiality of Written Communications between Lawyer and Client In Accordance With Dow DecisionEuropean Commission Preliminary Report on the E-commerce Sector InquiryFootsteps of "MFN" Practice in Turkey: Yemek Sepeti DecisionState Aid in Turkish Competition LawTüpraş Decision and the Rebate SystemsARBITRATION LAWSwiss Supreme Court Decided Stay of the Arbitration Pending Compliance with Multi-tiered ClauseIstanbul Arbitration Center Rules of ArbitrationICC Rules on Expedited ProcedureSoft Law in International ArbitrationDocument Production Requests in International Arbitration and Due Process ConcernsDocument Production Requests pursuant to IBA Rules on the Taking of Evidence in International Arbitration-IDocument Production Requests pursuant to IBA Rules on the Taking of Evidence in International Arbitration-IIPromoting Settlement in International ArbitrationExpert Witnesses in International Commercial ArbitrationConsent to Arbitrate in Investment ArbitrationThe Recent Philip Morris v. Uruguay DecisionCAPITAL MARKETS LAWShare Buy-Back by Listed CorporationsFinancial Reporting Principles of Mutual FundsRecent Developments Regarding Alternative Investment Funds in EuropeLAW OF OBLIGATIONSLegal Liability of Banks as Trustworthy InstitutionsOrganizational Liability Added to Art. 66 of the Turkish Code of Obligations Regarding Employer's LiabilityCan Errors in Predicting Future Facts Be Considered Fundamental Errors?Contractual Penalty under Turkish LawThe Code on Movable Pledges and Its InnovationsFinancial Sale and Lease BackThe Obligation of Lessee to Return or to Purchase the Leased Property under the Financial Lease AgreementsENERGY LAWProposed Exposure Draft to Amend the Regulation on Unlicensed Electricity GenerationSignificant Amendments to the Unlicensed Electricity Generation RegulationKey Points Regarding the Regulation on Certification and Support of Renewable Energy ResourcesKey Points Regarding the Draft Regulation on Renewable Energy Resource AreasRegulation on Renewable Energy Resource Areas Entered into ForceLABOR LAWNew International Workforce Law and New Horizons for Foreign Employment in TurkeyDraft Law Regarding Temporary Employment Relationship and Private Employment AgenciesAmendments to the Labor Law Introduced by Law Numbered 6663Workplace PracticesDraft Law on Labor CourtsEntitlement to Overtime PaymentINTELLECTUAL PROPERTY LAWPrevention of Intellectual Property Rights Infringements through the InternetIndustrial Property Law BillLAW OF CIVIL PROCEDURE AND ENFORCEMENT AND BANKRUPTCYEstablishment, Structure and Functioning of Regional Courts of AppealChallenging Decisions of the Regional Courts of AppealRecent Decision of the Court of Cassation on the Forfeiture of the Right to Submit Evidence When the Respondent Fails to Submit its Statement of ReplyConcordat as an Alternative to Suspension of BankruptcyTAX LAWDismissal of Tax PenaltiesInformation Exchange under Turkish Tax LawLatest Amendments to the Stamp Tax LawMISCELLANEOUSPersonal Data Protection under Turkish and European Legislation-IIUEFA Financial Fair Play RegulationsTermination of Subscription AgreementsLEGAL DEVELOPMENTSImportant International AgreementsImportant Council of Ministers ResolutionsThe Grand National Assembly of Turkey DecisionsImportant Changes and Developments in LawsImportant Changes and Developments in RegulationsImportant Changes and Developments in CommuniquesImportant Changes and Developments in General CommuniquesImportant Changes and DevelopmentsImportant Legislation and Decisions regarding CompetitionImportant Legislation and Decisions regarding Mergers and AcquisitionsImportant Publications and Decisions regarding PrivatizationImportant Changes and Development regarding Energy LawImportant Case Law and Other Important Decisions
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