Meet the Co-chairs - TAGLAW
Mitchell Silberberg & Knupp LLP
Barack Ferrazzano Kirschbaum & Nagelberg LLP
Meet the Co-chairs - TIAG
Burgis & Bullock
Meet the Co-chairs - TAG-SP
Corporate and M&A
Contact: Tony Stumm, Partner; Carter Newell (Queensland, Australia)
The ramifications of the Australian Competition and Consumer Commission (ACCC) v Valve Corporation (No 3)  FCA 196 (Valve case) are best remembered as exposing operators of foreign based websites to the Competition and Consumer Act 2010 (Cth) (Act) where internet sales are made to Australians. In the Valve case, Valve Corporation was pursued by the ACCC for misleading and deceptive conduct for representing to Australian customers that they were not entitled to refunds where defective video games were purchased. The ACCC was able to prove that the Act was enforceable against Valve Corporation because the conduct of the Valve Corporation was considered to have arisen in Australia, hence triggering Australian jurisdiction.
Contact: Prof. Dr. H. Ercument Erdem; Erdem & Erdem (Turkey)
One of the events for succession of shares in limited liability companies is through share transfer. The transfer of shares, in principle, is subject to the approval of the general assembly. Contrary to joint stock companies, the transfer of shares in limited liability companies cannot be made freely, and is subject to a requirement as to form. One of the most important novelties brought by the Turkish Commercial Code (“TCC”) on this matter is the facilitation of transfers. This novelty is a consequence of the strengthening of the stock corporation nature of limited liability companies.
This Newsletter article focuses on the provisions of the TCC regarding the transfer of shares in limited liability companies. The succession of shares by way of inheritance, provisions on marital property or enforcement proceedings are not separately examined hereunder.
Contact: NILAY CELEBI; Erdem & Erdem (Turkey)
As per Art. 338 of Turkish Commercial Code No. 6102, one or more shareholders may establish a joint stock company. Thus, the Turkish Commercial Code allows a joint stock company to be established by a single shareholder. In addition, a joint stock company that has more than one shareholder may be converted to a single shareholder joint stock company, provided it fulfills certain notification requirements.
Contact: Nilsun Gursoy; Erdem & Erdem (Turkey)
Contact: Budidjaja & Associates Lawyers
On 7 January 2016, the Ministry of Law and Human Rights issued Minister of Law and Human Rights (“MOLHR”) Regulation No. 1 of 2016 on the Amendment to MOLHR Regulation No. 4 of 2014 on the Procedures for SubmittingApplication for Legalization of Legal Entities, Approval for Amendments to the Articles of Association, and