• It is the spirit and not the form of law that keeps justice alive.
    Earl Warren

ISTANBUL ARBITRATION CENTER


On November 29, 2014, the long-awaited law (No. 6570) that establishes Istanbul Arbitration Center is enacted. The law will enter into force on January 1, 2015.

With the purpose to attract more foreign investment and to reiterate Istanbul as an international finance center, supporting new alternative dispute resolution methods has been on Turkish government’s agenda for some time. In that respect, Turkish Government took a step forward by establishing the Istanbul Arbitration Center (“IAC”).

IAC is expected to provide an efficient way to resolve legal disputes involving both foreign and domestic investors, which will mostly arise within Turkey.  The aim will be to provide an alternative to the long-lasting litigation procedures in Turkey.  It is also hoped to compete with well-known arbitration centers around the world for the disputes that involves Turkish entities and that are adjudicated in Turkish. Therefore, assurance for neutrality, flexibility, quick course of action and quick enforcement of arbitral awards, are the positive attributes which are envisaged to be attained. 

On January 1, 2015, IAC is planning to hold its first General Assembly meeting and duly appoint its directors. Following that, IAC will lay down its rules that will bind the arbitral tribunals. While rules on confidentiality of the directors and staff of IAC are already stipulated under the law No. 6570, further information on other rules will be provided as they get enacted. 

Practice Areas:
#Litigation
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