In a significant legal decision on February 7, 2003, the Turkish "Big Senate" for administrative processes ruled against allowing 1000 European plaintiffs from 14 countries to proceed with their claims concerning the controversial nationalization of Demirbank. This decision marks the second denial for these plaintiffs, highlighting a critical issue regarding the 60-day statute of limitations which begins upon publication in the Turkish "Official Journal." This statute applies even to foreigners residing outside Turkey, raising concerns about its fairness and transparency.
Demirbank, one of Turkey's significant financial institutions, was nationalized under contentious circumstances, affecting around 14,000 European shareholders. The plaintiffs, represented by a legal expert from Stuttgart, Germany, argue that the short limitation period prevents a fair chance to contest the nationalization, especially given the international nature of the case.
The case has stirred significant political activity within the European Union. High-profile German politicians like Guido Westerwelle, the leader of the Free Democratic Party, and Roland Koch, the Prime Minister of Hessen, have intervened. They have sought to address this issue at the highest levels, including inquiries to the German government and communications with the Turkish Ambassador to the EU.
The European Union's Extension Commission has also expressed serious concerns about the protection of property rights and the need for lawful proceedings in this case.
The IGDD submitted a petition to the European Union Committee on Petitions on December 9, 2002, which has since garnered approximately 3,000 signatures from EU residents, demonstrating widespread disapproval of the Turkish decision. The international dimension of the protest is underscored by the diversity of the petitioners, representing 25 different nationalities.
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For more information, visit the IGDD official website at www.igdd.de.
This case not only highlights the complexities of international law and property rights but also underscores the ongoing challenges in EU-Turkey relations, particularly in the context of legal and human rights standards. The outcome of this legal battle and the European Court of Human Rights' response will be closely watched, as it will have significant implications for international investors and the rule of law in cross-border disputes.
