GEMS Schindhelm COVID-19-Unit
Numerous legal questions arise in connection with the current developments around the outbreak and spread of the Corona virus. The GEMS Schindhelm COVID-19-Unit is comprised of legal experts from the most frequently affected areas of law and keeps you up to date on all current legal issues.
In general terms, Arrangement of Bankruptcy is executed by means of an agreement between the debtor and the creditors, and the affirmation of such agreement by the court. The debtor shall make the payments to the creditors according to the terms in such agreement.
The “Law on the Minimization of the Economical and Social Effects of the Covid-19 Pandemic and the Amendment of Certain Laws” (“the Law”) No. 7244 has been adopted and entered into force on 16 April 2020. The law regulated the restriction on the distribution of profits.
As a result of the spread of Coronavirus (COVID-19) all over the world, Turkey has also started to see the effects of this pandemic, which brings along new precautions taken by the Turkish government in order to stop the spread of the disease and maintain companies’ continuity. In conjunction with the new regulations regarding lease contracts, many legal questions arise in terms of the obligations of lessees and lessors. It is obvious that this cannot only lead to interpersonal conflicts, but also to considerable legal consequences.
Short-term working allowance is an income support provided by Turkish Employment Institution for the insured people working in workplaces whose activities are wholly or partially ceased for at least four weeks, or where the weekly working time is reduced temporarily by at least 1/3 as a result of a general economical, sectoral, regional crisis or compelling reasons arising from exterior effects. The Turkish Employment Institution provides short-term working allowance up to three months (extensible upon the President’s decision) for the insured people covering the period they could not work. Epidemics are considered to be “compelling reasons arising from exterior effects”, therefore short-term working allowance can be provided because of COVID-19.
As a result of the spread of coronavirus (COVID-19) all over the world, Turkey has also started to see the effects of this pandemia, which brings along social and economic changes as well as new precautions. In conjuction with pandemia’s negative effects on commercial activites, many legal questions arise in terms of the obligations of employers and employees.