We are ensuring the legality of commercial transactions, advising plenty of foreign and local (many have ranking in Top 500 of Turkey) corporations on their legal rights and duties, including the duties and responsibilities of corporate officers, directors and managers. In order to do this successfully, our team has significant knowledge of aspects of contract law, tax law, accounting, securities law, bankruptcy, intellectual property rights, licensing and the laws specific to the business of the corporations that they work for. Our team has also an excellent experience on drafting documents, reviewing agreements, negotiating deals and attending meetings along the whole deal-making process.
New Turkish Commercial Code (numbered 6102) has entered into force on 1 July 2012 instead of previous Commercial Code (numbered 6762) since 1956. The new Code clarifies the rules of commercial life with its modern and competitive approach. The new Code provides principles of transparency, auditability and reliability for commercial life. Corporate governance is introduced for all enterprises whether they are public companies. Financial statements in accordance with International Financial Reporting Standards (IFRS) and independent auditing in accordance with International Auditing Standards (IAS) will be mandatory.
We believe that new Code ensures the competitiveness of Turkish companies in internationally arena and also shall assure the foreign direct investment portfolio in a progressive way. Our Professional Staff completes the model draft for transition period in terms of amendment of Articles of Association, liabilities of directors, independent audit provisions, etc.