The fugitive business tycoon Akın İpek, a prominent FETÖ figure, has suffered a significant legal defeat. Turkey has successfully defended against a $7 billion lawsuit filed in an international court by İpek’s UK-based Ipek Investment Ltd. The court ruling in favor of Turkey marks the country's biggest victory in such cases against FETÖ.
The Case Process and Outcomes
The legal battle began in 2018 when Akın İpek, an associate of FETÖ, took the issue to a Washington-based arbitration court, protesting the seizure of Ipek Koza properties. After a prolonged trial spanning four years, the court sided with Turkey. This high-profile case was the most substantial one initiated by FETÖ in an international court. Mustafa Doğan İnal, the lawyer representing Turkey, jubilantly announced on Twitter, "We have won the case filed by Akın İpek's Ipek Investment against Turkey in ICSID! Thanks to everyone who contributed."
FAQs About the Lawsuit
Who is Akın İpek and Why is He a Fugitive?
Akın İpek is a former influential business leader within FETÖ. Since 2015, he has been evading Turkish authorities, residing as a fugitive in the UK following the seizure of his Ipek Koza assets in Turkey. İpek fled Turkey amidst allegations and legal proceedings tied to his FETÖ connections but continues his business operations from the UK.
What Was the Lawsuit About and How Did the Court Process Go?
The case centered around claims by İpek's Ipek Investment Ltd. demanding $7 billion for alleged damages resulting from the seizure of Ipek Koza assets. Initiated in 2018 at a Washington-based arbitration court, the trial concluded after four years with a verdict favoring Turkey. During the trial, both sides presented extensive evidence and documentation. The court considered the links between the confiscated assets and FETÖ, ultimately deeming Turkey's actions justified.
FETÖ Loses $7 Billion Lawsuit
Most Frequently Asked
What Impact Does This Ruling Have on Turkey’s Legal and Financial Landscape?
This landmark ruling serves as a colossal victory for Turkey, strengthening its legal standing and potentially deterring future claims against the state. Financially, avoiding a $7 billion payout is significant, allowing resources to be reallocated to crucial sectors. Legally, the victory sets a precedent in international arbitration involving complex issues like asset seizures and alleged ties to organizations like FETÖ. The case also highlights Turkey’s commitment to pursuing justice despite the complexities of international law, serving as a potent message to other entities contemplating similar lawsuits.
Who is Mustafa Doğan İnal?
Born in 1978 in Gaziantep, Mustafa Doğan İnal, a graduate of Istanbul University's Faculty of Law (2001), founded his own law office in 2004 after volunteering with civil society organizations during his university years. In 2006, he began serving as legal advisor and lawyer for Albayrak Holding and Yeni Şafak Newspaper. He is a board member and advisor for the Lawyers Association.
Since 2016, İnal has been leading Lexist Consulting Services, specializing in corporate law disputes, shareholder conflicts, and the real estate & construction sectors. He also has vast experience in commercial and criminal litigation and acts as an arbitration lawyer at ICC and ICSID.
His Achievements and Awards
2020: Second Place Award for Bonds, Loans, and Sukuk Yearly Natural Resource Financing Agreement.
2019: CEE Legal Matters’ Deal of the Year Award for the National Lottery License service procurement agreement.
2017: EMEA Finance Best Syndicated Loan award for the $2.7 billion Northern Marmara Motorway Project (Project value: $8 billion).