Overview
- A court annulled the CHP’s Oct. 8, 2023 Istanbul provincial congress, citing cash-influenced delegate votes, removing Ozgur Celik and installing Gursel Tekin as interim chief.
- The CHP called the decision unlawful and said it will contest it, while Justice Minister Yilmaz Tunc noted the verdict can be appealed.
- Authorities ordered the detention of seven employees from the Besiktas and Avcilar municipalities on Wednesday as part of ongoing probes that have also ensnared Istanbul Mayor Ekrem Imamoglu, who was arrested earlier this year.
- Turkish markets slid after the ruling, with the BIST 100 closing down 3.57% Tuesday after a drop of over 5% intraday and falling 1.8% at Wednesday’s open, while bank shares and longer-dated bonds weakened.
- The Istanbul decision could influence an Ankara case scheduled for Sept. 15 reviewing alleged irregularities in the CHP’s 2023 national congress, potentially imperiling Ozgur Ozel’s leadership as he prepares to address a rally in Istanbul.