17 April 2020
LEGISLATIVE PROPOSAL PASSES PARLIAMENT: PROFIT DISTRIBUTIONS BY COMPANIES ARE NOW RESTRICTED:
The Omnibus Law provides for a temporary article to be inserted into the Turkish Commercial Code no. 6102, setting out restrictions on companies’ distribution of their net profits in 2019. Accordingly, cash profit distribution of companies cannot exceed 25% of their net profits belonging to 2019.
15 April 2020
LEGISLATIVE PROPOSAL SETS OUT RESTRICTIONS ON PROFIT DISTRIBUTIONS BY COMPANIES :
Legislative Proposal concerning the Law on Diminishing the Negative Impact of the Novel Coronavirus in Financial and Social Life and Amendment to Certain Laws is submitted to the Grand National Assembly as of 14 April 2020. Article 11 of the Legislative Proposal provides for a temporary article to be inserted into the Turkish Commercial Code, setting out restrictions on companies’ distribution of their net profits in 2019.
08 April 2020
POSSIBLE EFFECTS OF COVID-19 ON CONTRACTS: HARDSHIP :
Lack of active participation of millions to the economic life for long periods will have short and long-term effects on the supply chains, and the trade relations and therefore it is inevitable that many natural and legal persons will have a hard time fulfilling their contractual obligations, or will simply not be able to do so.
02 April 2020
COVID-19: Measures in relation to Public Procurement Contracts :
As one of the measures implemented in order to prevent the negative effects of COVID-19 in economic life, The Circular on the Effect of the COVID-19 Pandemic on Public Procurement Contracts No. 2020/5 (“Circular”), has entered into force upon its publication in the Official Gazette No. 31087 dated 2 April 2020.
30 March 2020
THE FIGHT AGAINST CORONAVIRUS IN THE WORKPLACE: A DATA PROTECTION AND EMPLOYMENT LAW PERSPECTIVE (PART 2):
Due to the rapid spread of the novel coronavirus in the past couple of months, many workplaces around the world and in Turkey have implemented a variety of measures. In this article, we will review the measures to combat coronavirus in the workplace within the scope of labor law.
27 March 2020
LAW SUSPENDING THE PROCEDURAL DEADLINES IS NOW PUBLISHED IN THE OFFICIAL GAZETTE :
While COVID-19 continues to spread, on 25.03.2020, the Grand National Assembly enacted the Law No. 7226 (“Law”) on the suspension of the procedural deadlines for the purpose of preventing loss of any rights due to the pandemic.
25 March 2020
THE GRAND NATIONAL ASSEMBLY SUSPENDS PROCEDURAL DEADLINES UNTIL 30 APRIL 2020! :
Following the postponement of the hearings and the suspension of the enforcement proceedings due to the COVID-19 pandemic, the authorities have now issued a new regulation with regard to the deadlines in the adjudication proceedings.
23 March 2020
TURKISH AUTHORITIES IMPLEMENT ADDITIONAL MEASURES IN THE JUDICIARY TO CURB SPREAD OF COVID-19:
The authorities continue to implement precautions in the judiciary system in order to prevent the spread of the COVID-19 disease caused by the new corona virus, which was declared a pandemic disease by the World Health Organization on 11.03.2020.
17 March 2020
NEW PRECAUTIONS ISSUED FOR MARINE TRANSPORT INDUSTRY TO FIGHT THE COVID-19 PANDEMIC:
With the global community holding their breath to see how the COVID-19 pandemic will affect all aspects of our lives, from business to our daily behaviour, governments are issuing precautions to slow down the worrying trend of the infection.
16 March 2020