Although Turkey has been comparatively slow to develop an arbitration culture, today befitting its rapid rise to sixteenth among the worlds national economies arbitration has become the norm there in both domestic and international commercial disputes. To meet the prodigious increase in Turkish transnational transactions since the turn of the 21st century, the legislature has created a powerful legal framework regarding arbitration, and a sophisticated arbitration expertise has come to the fore. The pending Istanbul Arbitration Centre, envisaged to be governed by private stakeholders and to be an autonomous institution subject to private law, will fill whatever need remains for a centralized and effective arbitration culture in Turkey. This book provides a comprehensive analysis of the law and practice of international arbitration and other alternative dispute resolution mechanisms in Turkey. It has been prepared with the contributions of twenty experienced Turkish practitioners and academics, all of whom are experienced experts in the field. Among the factors discussed that manifest the emergence of world-class arbitration in Turkey are the following: the legal infrastructure regarding arbitration in Turkey; the regulatory framework governing foreign direct investment in Turkey; differences between Turkeys Code of Civil Procedure (CCP) and International Arbitration Law (IAL); Turkeys Mediation Law; Turkeys reservations in relation to the New York Convention; compliance with the ICSID Convention and the Energy Charter Treaty; investor rights and protections under Turkeys bilateral investment treaties; the role of Turkeys main arbitral institutions; real rights concerning immovable property; principles governing judicial intervention; language of arbitration; arbitration costs; setting aside claims and applicable procedure; the merger and acquisition transition process; and Internet domain name arbitration. In addition, there is the great promise of Turkeys investment agreements with the 57 States Parties to the Organisation of the Islamic Conference to be considered. For this and many other reasons, this book will be of inestimable value to institutional and private investors worldwide.
Last Update: 09/07/2021 14:26