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The Legal 500 Hall of Fame Icon The Legal 500 Hall of Fame highlights individuals who have received constant praise by their clients for continued excellence. The Hall of Fame highlights, to clients, the law firm partners who are at the pinnacle of the profession. In Europe, Middle East and Africa, the criteria for entry is to have been recognised by The Legal 500 as one of the elite leading lawyers for seven consecutive years. These partners are highlighted below and throughout the editorial.
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Turkey > Restructuring and insolvency > Law firm and leading lawyer rankings

Editorial

Index of tables

  1. Restructuring and insolvency
  2. Leading individuals

Who Represents Who

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Balcıoğlu Selçuk Akman Keki’s five-strong restructuring and insolvency practice is led by Özgür Akman, who also heads the dispute resolution department of the firm. The team handles cross-border restructuring, refinancing, liquidation and on litigious matters. Galip Selçuk is experienced in advising management and stakeholders on distressed M&A and corporate restructuring; Barlas Balcıoğlu is particularly active in the banking sector. Doğan Eymirlioğlu and Semih Sander are other key figures.

Hergüner Bilgen Özeke advises on corporate and financial restructuring, bankruptcy proceedings and on M&A-related restructuring. In one recent highlight, the team advised Pirelli on the separation of its Motorsport business into a new entity, as part of the client’s corporate restructuring process in Turkey. Litigators Tolga Danışman and Ayşe Hergüner Bilgen are active in the area; Ufuk Yalçın is also part of the core team.

Experienced, responsive and responsiblePelister Atayilmaz Enkur Law Office is recommended for its advice on operative and financial restructurings. ‘Highly recommendedKerim Pelister has ‘impressive negotiation skills’ and Gökhan Enkür stands out for his ‘expertise, level of service and experience in the field’. Recent highlights include assisting Cigna Corporation with the regulatory aspects of the Turkish leg of its global restructuring project. The client base also includes Shell Turkey and Qatar National Bank.

Results-orientedErsoy Bilgehan Lawyers & Consultants advises clients on financial restructuring, distressed M&A and bankruptcy. Recent work includes advising Kodak on the liquidation of its Istanbul branch. Zihni Bilgehan is recommended for his ‘outstanding know-how and practical commercial approach’; Ergün Ersoy and İlknur Pekşen are the other core members of the team.

Paksoy provides ‘excellent, focused and pragmatic advice’ on insolvency and financial restructuring, and has special expertise in fiscal and tax-related matters. In a recent highlight, M&A-expert Elvan Aziz and counsel Şansal Erbacıoğlu advised longstanding client PSP Investments on all fiscal aspects of a €9.3m debt restructuring.

The insolvency and bankruptcy department at Pekin & Pekin is led by experienced litigator Gökben Erdem Dirican and provides advice on formal insolvency, bankruptcy and restructuring related to cross-border transactions. The team is strong on the contentious side and particularly experienced in the finance sector. The client roster includes debtors, creditors, bondholders and shareholder groups.

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Legal Developments in Turkey

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Court of Appeals Sheds Light on “Just Cause” for Termination, Exit Right and Squeeze-out

    The Court of Appeals Sheds Light on "Just Cause" for Termination, Exit Right and Squeeze-out of Shareholders
  • AMENDMENTS TO TURKISH FX RULES RE. CONTRACTS DENOMINATED IN FOREIGN CURRENCY

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  • Understanding the Registration Obligation under Turkish Data Protection Law

    I. Scope of the registration obligation under Turkish legislation
  • Quarterly Update on Trade Defense Cases in Turkey (September 2018)

    After Turkey's recent change to executive presidency, the President has made some changes in the government system.
  • Amendments Introduced through Law No. 7101 on Arbitration Proceedings

    State courts have very important functions concerning arbitration proceedings. These functions may aim to provide assistance to arbitration proceedings, such as collection of evidence through state courts, which would support the functions of the tribunal, or functions aimed at supervision of arbitration proceedings, such as set-aside actions. The legal provisions regulating these functions play an important role in the determination of whether a particular state has an arbitration-friendly legislation.
  • Restrictions on Use of Foreign Currencies in Certain Agreements between Turkish Residents

    The Presidential Decree dated September 12, 2018, on the Amendment of Decree No. 32 on the Protection of the Value of the Turkish Lira (" New Decree "), introduced significant restrictions on the use of foreign currencies in certain agreements between Turkish residents. Below, we explain the scope of the New Decree and discuss possible issues and problems that may arise in relation to the implementation of the New Decree. We also assess the potential effects of the Communiqué (2018/32-51) on the Amendment of the Communiqué on Decree No. 32 on the Protection of the Value of the Turkish Lira (2008/32-34) (" Communiqué "), which was published in the Official Gazette on October 6, 2018, and lists the exceptions to the restrictions imposed by the New Decree.
  • Amendment of ICSID Rules and Regulations

    At the 2016 Annual Meeting of the Administrative Council, the International Centre for Settlement of Investment Disputes ("ICSID") launched an amendment process on its' rules and regulations ("ICSID Rules and Regulations"). This has been the fourth amendment process since 1984, 2003 and 2006. As per Article 6 of the ICSID Convention, the amendments will only be effective upon the approval of two-thirds of the contracting states2. Hence, ICSID invited contracting states and the public3 to provide their amendment suggestions on topics worthy of consideration, which will be used as background papers throughout the process.
  • Trust Liability in terms of Groups of Companies

    Article 209 of Turkish Commercial Code No. 6102 ("TCC") has set forth obligations that are subject to damage caused by the trust and reputation of the parent company, as created with society and the consumer. Accordingly, "in the event that the reputation of the parent company and the group of companies reaches a certain level which provides trust to society or the consumer, the parent company is liable for the trust created by utilization of this reputation".
  • Possibilities and the Results of Trademark Confusion

    Trademarks are the vehicles that are used to differentiate companies one from the other. They help to capture the consumers' attention. It is essential and necessary to protect trademarks that are created and improved with capital and effort, from unrightful use by third parties, and to prevent the encroachment of trademarks through confusion. One of the most efficient functions of intellectual property law is to encumber imitations, and to halt improper benefit by using the popularity of the trademarks to their consumers. On the other hand, in our daily lives, we often see trademarks that are similar, and may wonder how they co-exist at the same time. In this article, we will shed light on the reasons why similar trademarks can be registered, the criteria that cause trademark confusion, and the remedies to prevent and/or remove these infringements.
  • Capital Markets Board Issues an Official Announcement on Initial Coin Offerings and Crowdfunding

    The Capital Markets Board (" CMB ") issued an announcement on September 27, 2018, on its website and addressed the much-disputed status of digital tokens and Initial Coin Offerings (" ICO "). In this announcement, the Capital Markets Board stated that it does not regulate or supervise ICOs, and also noted that it does not regulate or supervise most practices in which blockchain technologies are being used, such as cryptocurrency offerings and token offerings.

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