New Regime for Arrest of Non-Turkish Vessels:

As a result of the Turkish Government’s continuing efforts to harmonise the country’s legislation with that of the EU and to modernise its old laws, some of which dates back to 1925, a new Turkish Commercial Code (the “New TCC”) was passed by the Parliament in January this year which will come into force on 1st July, 2012. The New TCC brings about a major overhaul of the laws of arrest of non-Turkish vessels within the Turkish jurisdiction.