Turkey’s Litigation Finance Future

Gunnar Larson g at xny.io
Sun Jan 9 12:43:41 PST 2022


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.
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