In its recently published decision, numbered 2016/2 E and 2018/4 K and dated 13 April 2018, the General Assembly of Civil Chambers in Turkey decided that an arbitration agreement had a procedural nature. As a result, arbitration awards stemming from arbitration agreements signed before 1 October 2011, the date the new Civil Procedural Code (new CPC), … Continue reading End of a long-lasting debate on the legal nature of arbitration agreements in Turkey?
In the commercial world, time is of the essence. Anyone who has ever litigated knows that it is expensive, time consuming, emotionally harmful and unpredictable. This is especially true if the parties to the dispute are based in different countries.
Istanbul is renowned for being the hub that separates Europe from Asia. It is a fast growing metropolis, which welcomes much in the way of foreign investment and interest. It is now also a proud centre for international arbitration, with the opening of the new Istanbul Arbitration Centre (ISTAC). Turkish investors and entrepreneurs have waited … Continue reading Istanbul’s new arbitration centre: a bridge between Europe and Asia