Turkey’s Litigation Finance Future
Turkey’s economy has been targeted by aggressive international profiteers, according to officials in A <https://www.google.com/search?rlz=1C1RXQR_enUS976US976&q=Ankara&stick=H4sIAAAAAAAAAONgVmLXz9U3yKosf8RoxC3w8sc9YSnNSWtOXmNU5uIKzsgvd80rySypFBLlYoOyuKU4uWB6eBaxsjnmZScWJQIA0XQQMUkAAAA&sa=X&ved=2ahUKEwipuNKBiKX1AhUtUt8KHao0Cb8QzIcDKAB6BAgcEAE>nkara. The Capital Market’s Board fined a group of United States banks who signaled clear hawkish intentions with surprise illegal short selling of Turkey’s stock market in 2021. The banks included marquee firms such as Goldman Sachs International, Credit Suisse Securities Europe and Barclays Capital Securities. Imrquits.com recently profiled <https://imrqtuts.com/2022/01/overview-of-turkish-litigation-practice-2021-litigation-mediation-arbitration-turkey/> Mondaq’s contemporary Overview of Turkish Litigation Practice. Litigation finance is a bright new concept in Turkey, and many are hopeful of its usage as a potential international diplomacy tool. The volatile Turkish Lira and global inflation pressures continue to prompt Turkish officials’ call for international diplomacy rather than targeted economic conflict. Litigation finance may be useful in closing regulatory arbitrage loopholes that have the potential to snowball into crimes against humanity. For example, Turkey is covered by New York Human Rights provisions to certain acts committed outside the state of New York (§ 298-a.). If a New York bank willfully intends to target Turkey’s vulnerable economy by violating human rights laws, claims based on such aggression can be financed without armed conflict. Savvy international litigation funders may look for unique opportunities to finance profitability diplomatic solutions, rather than exacerbate Turkey’s economic vulnerabilities.
participants (1)
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Gunnar Larson