Aviation is a huge industry where many airlines operate aircrafts by virtue of leasing. According to the International Air Transport Association (“IATA”), since the 1980s, when aircraft operating leases[1] represented less than 5% of the overall aircraft operating market, the number of aircraft operating leases has grown significantly[2] and airlines have realized the advantage of […]
As per the decision dated July 19, 2018 and numbered 2018/87 of the Turkey’s Data Protection Authority (“Authority”) (“Decision No.2018/87”)[i], all data controllers who process data in automatic or semi-automatic ways and (i) employ more than 50 employees in a year, or (ii) whose total annual balance is more than 25 million Turkish Liras are […]
The general assembly resolution (“GAR”) is a legal act that may affect partners, creditors, directors, and employees. Therefore, their compliance with the law bears utmost importance for joint stock companies. GAR requires a decision that has been taken in accordance with the relevant legislation and articles of association (“AoA”) in order to become applicable. Otherwise, […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Natasha Mandich of Film & Ink. Natasha has joined IR as our exclusive Tech-Media-Telecoms Member in California. Since its founding in 2005, Film & Ink has represented top entertainment industry clients on numerous television, feature film, music, digital media, home entertainment and […]
The status of flight personnel[1] under Turkish Labor Law is exceptional since they have been exempted from the Turkish Labor Law numbered 4857 (“Law No. 4857”) by its 4th Article. Accordingly, provisions of the Law No. 4857 shall not apply to flight personnel unless they fall into the scope of the Law No.4857 with a collective labor […]
The parties of a contract (“main contract”) may require the counter party to commit certain guarantees in order to protect their rights in case of a violation of certain contractual obligations such as delivery of a product or a service. Letter of guarantees are preferred in contrast to other collaterals such as pledges, mortgages and […]
Within the new year several communiques that deal with the importation of certain products that are highly popular within the defense industry are amended. Since all these communiques are entered into force by the beginning of 2020, it is necessary to examine which alterations must be considered by importers under this article. Legal Update on […]
After almost two years of the GDPR, the fines from the regulators are starting to pile up. Buying or merging with a company that lacks proper cybersecurity, or one that is not in compliance with the GDPR becomes a considerable risk. For instance, Marriott was fined £99 million by the Information Commissioner’s Office (ICO), which is […]
Today’s employment relations are more complex since companies offer their employees more than a standard wage in order to increase workplace motivation and become prominent in the market. For instance, it has become common practice for employers to incentivize employees’ salaries with extra benefits such as premiums and/or bonuses. Since these extra benefits may constitute […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Alejandro Castro Angulo of Union Andina. Alejandro has joined IR as our exclusive IP – Trademark & Copyright, IP – Patents, Competition Law and Tech-Media-Telecoms Member in Peru. Lawyer by Pontificia Universidad Católica del Perú with specialization in Intellectual Property and […]
In today’s world, innumerable disputes arising out of agreements between shareholders cloud the court rooms and arbitration authorities. This study focuses the arbitrability of corporate law disputes and the validity of arbitration clauses designated in the articles of association (“AoA”) of joint stock companies under Turkish Law. What are the distinctive characterictics of corporate disputes? […]
Letter of guarantees are widely preferred as a security since they make it possible to collect the agreed amount as per the transaction without the need to conduct any further proceedings. However, it is possible that such guarantees may be abused by guaranteed parties. In cases where the bank letters of guarantee contains “Collectable upon first […]