Further Legislative Amendments to Improve the Investment Climate

 The work of the Coordination Board for Improving the Investment Climate (“CBIIC”), which has been active since 2001, has most recently yielded the Code Amending the Enforcement and Bankruptcy Code and Certain Other Codes No. 7101 (the “Omnibus Bill”), which introduces revolutionary changes. The Omnibus Bill was published in Official Gazette No. 30361 on March 15, 2018.

While the majority of its provisions entered into force on the day of publication, provisions addressing mandatory electronic notification will enter into force on January 1, 2019. The Omnibus Bill amends provisions of several codes in many fields, including in particular the Enforcement and Bankruptcy Code (“Bankruptcy Code“), the Turkish Code of Civil Procedure (“Code of Civil Procedure“), and the Turkish Commercial Code (“TCC“).

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