Egemenoglu Advises Derindere Turizm Otomotiv Sanayi ve Ticaret A.S. on its Second Round of Consolidated and Syndicated Loan Restructuring 28 December 2021
As Egemenoğlu Law Firm, we are pleased to announce that we have successfully concluded the second phase of the Financial Restructuring Project developed by our Restructuring Team, under the leadership of our Managing Partner Yunus Egemenoğlu, while we represented and advised Derindere Group, a pioneer in the fleet vehicle leasing industry of Turkey which was ranked, in 2019, as the 76th largest company by Turkey Fortune 500, with respect to the second round of the consolidated and syndicated loan restructuring of its debt amounting up to €350 million, held by numerous financial institutions (29, to be precise, including such giants as Credit Europe Bank, and Islamic Corporation for the Development of the Private Sector).
Other News
-
21.11.2024
The Procedure of Sale by Auction and The Legal Aspect of New Regulations Brought by the 9th Judicial Package
By new regulations brought by the 9th Judicial Package, a new legal frame for the sale of seized goods electronically is instructed according to Enforcement and Bankruptcy Law Article 111/b. Transactions about the sales of seized goods are made via a sale portal integrated with the National Judicial Network Information System (UYAP) by auction. However, because of the legal gaps of the law, an application about the sale transactions cannot be displayed. The amendments introduced by legislators to the law regarding electronic sales in the 8th and 9th Judicial Packages, as well as the newly established regulations, are considered an important step toward making foreclosure processes faster and ensuring that sales transactions are conducted in a safer and more transparent environment.
-
14.11.2024
Law Numbered 7531 On Amendments To Certain Laws Was Published
Law1 No. 7531 on the Amendment of Certain Laws ("Law"), also known as the 9th Judicial Package, was published in the Official Gazette dated 14.11.2024 and numbered 32722 and contains significant amendments to 17 different laws.
-
12.11.2024
E-Government Era Begins In Lease Agreements!
The Ministry of Treasury and Finance ("Ministry") announced in the 2023-2025 period of its 2022 Action Plan for Combating the Informal Economy ("Action Plan") that lease agreements could be concluded through the e-Government portal to support the decision-making processes of the parties involved and conduct risk analysis studies. The first phase of this activity was launched on November 4, 2024, through the e-Government portal, and the second phase is expected to be implemented by the end of the year.
-
10.11.2024
A New Era in Digital Markets: The Competition Authori's The Competition Authority's 2024-2028 Strategic Plan Published
The Competition Authority ("the Authority") has published its 2024-2028 Strategic Plan ("the Strategic Plan") with the aim of adapting to the rapidly evolving dynamics of digital markets and maintaining a competitive economic order. Developed in light of recent shifts in the global competitive environment, the Strategic Plan focuses on new regulations in digital markets and emerging technologies. The Authority aims to ensure fair and competitive markets through this plan, with a clear focus on enhancing consumer welfare.
-
30.10.2024
Public Announcement on Standard Contract Notification Module Published
Public Announcement on Standard Contract Notification Module published on 24.10.2024 on the official website of Personal Data Protection Authority ("Authority"). By the decision dated 17.10.2024, the Personal Data Protection Board ("Board") created "Standard Contract Notification Module" ("Module") in order to carry out standard contract notification processes in a faster and more efficient manner and decided that the notifications could also be carried out online via the Module.
-
27.10.2024
Warning To Research Companies: Inform First, Then Obtain Consent
After the number of complaints to the Personal Data Protection Authority ("Authority"), the Authority published a Public Announcement on "Personal Data Processing Activities of Research Companies by Using "Random-Digit Dialing as a Method of Telephone Sampling" for the purpose of Statistical Research" ("Public Announcement").
-
20.10.2024
EU Data Act
In today's world, where digitalization is gaining significant pace, data sharing and management are of vital importance for all sectors. In this context, the European Union has adopted the EU Data Act, which reshapes the regulations on data sharing. It aims to promote the wider use of data generated by digital devices and services while introducing new rules for a fair data economy.
-
1.10.2024
Regulation No.2023/1115 on the Prevention of Deforestation and Rules for Companies Exporting Products to the European Union
According to data from the United Nations Food and Agriculture Organization, it has been determined that the world's forests decreased by 178 million hectares over the 30-year period from 1990 to 2020.
-
30.9.2024
SEC Climate Disclosure Rule
For the sake of a livable environment and the future of our world, sustainability and ecosystem protection are becoming increasingly important. In this context, governments are introducing environmental reporting standards for companies, which are among the actors that most significantly impact the ecosystem.
-
25.7.2024
2024-2025 Action Plan For The National Artificial Intelligence Strategy Has Entered Into Force
Presidency of the Republic of Türkiye Digital Transformation Office published 2024-2025 Action Plan for the National Artificial Intelligence Strategy within the framework of the 12th Development Plan in order to further Turkey's progress in the field of artificial intelligence and to achieve the set targets.
-
29.5.2024
Important Amendments Introduced to the Turkish Commercial Code by Law No.7511
The Law on Amendments on Turkish Commercial Code and Certain Laws (the "Law") was published in the Official Gazette dated 29 May 2024 and numbered 32560.
-
7.5.2024
Law Proposal on the Amendments on the Turkish Commercial Code Numbered 6102 and Certain Laws in Offered to the Parliament
Law Proposal on the Amendments on the Turkish Commercial Code and Certain Laws is offered to the parliament. Within the scope of the proposal, it is planned to make important amendments to a number of laws, particularly the Turkish Commercial Code, the Cooperatives Law, the Law on the Protection of Competition and the Law on Consumer Protection.
-
18.4.2024
The Constitutional Court Decision Annulled The Regulation Envisaging Liability For Litigation Expenses Within The Scope Of Mediation In Civil Disputes
In accordance with paragraph 11 of Article 18/A of Law No. 6325 on Mediation in Civil Disputes1 ("the Code"), a party shall be held liable for the entire cost of the litigation, nothwithstanding justification at the conclusion of the proceedings, and shall not be granted power of attorney fee if he or she fails to appear for the initial session of mandatory mediation without providing an explanation.The aforementioned regulation is outlined as follows:
-
7.4.2024
E-Application" Period In Capital Markets Board Applications
With its announcement dated 5 February 2024, the Capital Markets Board ("Board") announced to the public that capital market institutions, organisations and partnerships will be able to make their applications more quickly and effectively through the e-Application System.
-
4.4.2024
The Amounts In The Pre-Conditions To Be Complied With Before The Initial Public Offering Of Shares In Several Sectors Were Decreased
The Capital Markets Board ("Board" or "CMB") decreased the financial thresholds for financial statements, especially considering the sectoral differences of the companies that submitting to the Board for initial public offering and the 12th Development Plan ("Plan") prepared by the Presidency of the Strategy and Budget Directorate.
