Corporate and M&A

By Melanie Figueroa and Blake Baron

In a recent effort to foster increased public offering activity, the U.S. Securities and Exchange Commission (SEC) announced on June 29, 2017 that it will permit all companies to submit voluntary draft registration statements relating to initial public offerings (IPOs), certain follow-on offerings and national securities exchange listings for non-public review. This process will be available for nearly all offerings made in the first year after a company has entered the public reporting system. This benefit takes effect today, July 10, 2017. 

So, why is this an important change? 

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Author: Prof. Dr. H. Ercument Erdem

Pursuant to the Law on the Establishment of the Turkish Wealth Fund Management Joint Stock Company and on the Amendment of Certain Laws numbered 6741[1] (“Law No. 6741”), the purpose of the Wealth Fund is to contribute to the variety and to the depth of tools in the capital markets, to bring domestic public assets into the economy, to provide external resources, and to take part in strategic and large-scale investments. In this Newsletter article, the establishment and the characteristics of the Wealth Fund are analyzed.

Read more: Turkish Wealth Fund

Attorney-at-law and partner Pirkka-Marja Põldvere is writing in the news portal about the topic “Can private limited company reclaim the fee paid to a member of management board?”.

Mister X has been elected as a member of the management board of a private limited company. The member is satisfied – elected for 3 years and the parties have agreed to pay him as a member of the management board a significant amount of fee. However, one day the shareholders unexpectedly submit a claim for the repayment of the fee. Unprecedented? Not really.

Read more: “Can private limited company reclaim the fee paid to a member of management board?”, writes...


  • Holding Company Structure under Turkish Law
  • Lifting the Corporate Veil: An Exceptional Concept of the Shareholders’ Limited Liability Principle
  • Share Buy-Back by Listed Corporations
  • Termination of Subscription Agreements
  • European Commission Preliminary Report on the E-commerce Sector Inquiry
  • The Code on Movable Pledges and Its Innovations
  • UEFA Financial Fair Play Regulations

Read more: Turkish Corporate Law Update

Partner Pirkka-Marja Põldvere is explaining in the news portal Delfi how the Estonian Supreme Court has specified the limits of liability of board members.

In the decision from 29 March 2017, the Supreme Court established that in certain cases the liability of board members is up to 10 years. Usually the applicable term for any claim against board members is 5 years.

Read more: The Estonian Supreme Court specified the limits of liability of board members