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|Sublease Agreements within the Context of the Turkish Code of Obligations|
Ece Yżlmaz; Erdem Erdem Law Office;
February 5, 2016Lease agreements are amongst the most common types of agreements, organizing property usage, as regulated under the Turkish Code of Obligations numbered 6098 (“TCO”). Authority to sublet a leased property to third parties is one of the authorizations of the TCO granted to the lessee,...
|Selective Distribution System under Competition Law|
Ecem Susoy; Erdem Erdem Law Office;
February 5, 2016, previously published on January 8, 2016Selective Distribution Systems
|A Legal Vehicle in Institutionalization of Family Companies and Transfer between Generations: Internal Directive|
Ali Sami Er; Erdem Erdem Law Office;
February 5, 2016, previously published on January 8, 2016An internal directive may constitute a stepping stone for family companies to become institutionalized. A simple distribution of duties to be provided in consideration of the accountability principle may enable differentiation in decision-making processes, and may convert the board of directors...
|Recent Keynotes of December 2015|
Nilsun Gursoy; Erdem Erdem Law Office;
February 3, 2016, previously published on January 7, 2016International Agreements, Resolution of Council of Ministers, Legislation, Competition Board Decisions, Mergers and Acquisitions, Privatizations, Energy
|Corporate & Regulatory Compliance: Are You Asking the Right Questions?|
Michael L. Aguirre, John Kaufmann; Greenberg Traurig, LLP;
February 2, 2016, previously published on January 21, 2016Due to regulatory changes made in response to the financial crisis of 2008, market participants entering into over-the-counter derivative transactions and their associated agreements face a vastly different landscape than several years ago. Competing (and sometimes inconsistent) legal regimes...
|SEC Approves Two New Rules to Make Public Offerings More Efficient|
Spencer G. Feldman, Kenneth M. Silverman; Olshan Frome Wolosky LLP;
January 27, 2016, previously published on January 22, 2016On January 13, 2016, the SEC approved two interim final rules (that become effective when published in the Federal Register later in February) that are of significance for emerging growth companies (EGCs) and smaller reporting companies (SRCs). These rules were previously adopted by Congress in...
|VG Koblenz: Managing Director Liable For Tax Debts|
Michael Rainer; GRP Rainer LLP;
January 27, 2016, previously published on January 26, 2016The managing directors of a German Unternehmergesellschaft (entrepreneurial company), UG for short, are liable for the company’s trade tax debts. That was the decision of the Verwaltungsgericht Koblenz (Administrative Court of Koblenz) (Az.: 5 K 526/15.KO).
|Delaware Chancery Court Confirms Right of Stockholders to Remove Directors Without Cause in the Recent In re Vaalco Ruling|
Aneliya S. Crawford, Timothy D. Knox, Steve Wolosky; Olshan Frome Wolosky LLP;
January 21, 2016, previously published on January 14, 2016In a recent decision by the Delaware Court of Chancery in In re Vaalco Energy S’holder Litig., Vice Chancellor Laster made clear that, subject to certain exceptions, corporations cannot restrict the right of stockholders to remove directors without cause under Section 141(k) of the Delaware...
|Debate About "Golden Leash" Payments to Director Nominees Continues|
Lyle G. Ganske, Robert A. Profusek, Lizanne Thomas; Jones Day;
January 19, 2016, previously published on January 2016In the past few years, much attention has been paid to the issue of special compensation arrangements sometimes paid by so-called activist shareholders to their director nominees in proxy fights. Activists claim that these arrangements provide appropriate compensation for insurgent director...
|Glass Lewis Opens Registration for Issuer Data Report Requests, including expanding access to certain companies in Canada and Europe|
Christopher T. Cox, William P. Mills, Gillian Emmett Moldowan; Cadwalader, Wickersham & Taft LLP;
January 19, 2016, previously published on January 8, 2016U.S. companies listed on the NASDAQ and NYSE, as well as certain listed companies in Canada and Europe,1 with annual shareholder meetings scheduled between March 1, 2016 and June 30, 2016 may now register through January 31, 2016 to receive an Issuer Data Report (IDR) from Glass Lewis. The IDR...