This article is about an ICC award, the recognition and enforcement of which was (i) permitted by the High Court of Justice of the British Virgin Islands (the “BVI Decision”)[1]; but (ii) refused by the Turkish Court of Cassation (the “Turkish Decision”)[2]. The central issue in both proceedings was whether the arbitral tribunal’s attorney eyes […]
The General Assembly of the Civil Chambers of Turkish Court of Cassation (“Court”) rendered a controversial decision on 21 December 2021 with No. K.2021/1710 (“Decision”) The Decision provides that, notwithstanding a valid arbitration agreement, Turkish courts, not arbitrators, shall have jurisdiction to determine whether an alleged debtor, against whom a bankruptcy proceeding has been initiated, […]
As of February 2022, Turkey’s renewable energy capacity is approximately 53,500 MW amounting to just over half of Turkey’s total installed capacity. This was largely thanks to YEKDEM, Turkey’s USD-based feed-in tariff. Depending on the renewable energy source, this mechanism provided guaranteed purchase prices between US$7.3 and US$13.3 per KWh for the first ten years […]
