The Legal 500

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ORJIN MASLAK, ESKI BUYUKDERE CADDESI NO:27, K:11, MASLAK, 34398 ISTANBUL, TURKEY
Tel:
Work +90 212 366 4700
Fax:
Fax +90 212 290 2355
Email:
Web:
www.paksoy.av.tr

Turkey

Banking, finance and capital markets
Banking, finance and capital markets - ranked: tier 1

Paksoy

Sera Somay heads the banking and finance practice at Paksoy and Ömer Çollak handles capital markets matters, such as eurobond offerings and Islamic finance debt offerings. The team is experienced in cross-border transactions, investments, project finance and syndicated loans. Recent highlights include advising Klöckner Pentaplast on local law aspects of the facility agreement provided by Garanti Bankası and Odeabank for the planned acquisition of Farmamak, which resulted in a merger after the financing was closed. In another key mandate, the team represented Migros as borrower in the negotiation, drafting and review of a facility agreement with Rabobank. The firm recently added Commercial Bank of Qatar, Borusan Holding and World Bank to its client base.

Leading individuals

Ömer Çollak - Paksoy

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 2

Paksoy

Elvan Aziz heads the department at Paksoy, which has ‘ample experience in the corporate and M&A sector’ and advises on day-to-day commercial and corporate matters, transactions, the drafting and negotiation of contracts and agreements, and due diligence. Competition law expert Togan Turan recently led advice to Klöckner Pentaplast on the acquisition of Farmamak, a Turkish market leader in the production of rigid film. In other work, Sera Somay assisted One Equity Partners with the sale of its 48% stake in NetaƟ TelekomĂŒnikasyon. StĂ©phanie Beghe Sönmez is another name to note.

Leading individuals

Elvan Aziz - Paksoy

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Competition
Competition - ranked: tier 2

Paksoy

Togan Turan heads the competition department at Paksoy and advises on merger notifications and filings, cartel investigations, competition compliance and litigious matters. In one recent highlight, the team assisted Migros with merger notifications and negotiations with the Turkish Competition Authority regarding its acquisition of Tesco Kipa. The client roster also includes Zurich Insurance, Bayer and Nova Nordisk.

Leading individuals

Togan Turan - Paksoy

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Dispute resolution
Dispute resolution - ranked: tier 3

Paksoy

Paksoy handles arbitration and litigation arising from civil, administrative and commercial disputes, including in the areas of IP, employment and competition law. The team is particularly active in the media, entertainment, construction and automotive sectors. Serdar Paksoy heads the firm; former practice co-head Gökhan Bozkurt left the firm in May 2017 to found litigation boutique Bozkurt Bozkurt Attorney Partnership.

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Employment
Employment - ranked: tier 3

Paksoy

Paksoy ‘provides commercially focused and pragmatic advice’ on employment matters such as collective dismissals, employee transfers, contracts and litigation. A key strength of the team is its special expertise in the press labour law. The firm’s client roster includes Dow Chemical, Corning and British American Tobacco. Elvan Aziz leads the team.

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Energy
Energy - ranked: tier 2

Paksoy

Zeynel Tunç heads the energy practice at Paksoy and advises on acquisitions, tenders, licensing and regulatory law. Recent highlights include assisting new client Akfen with its potential acquisition of seven wind power plant assets. In other work, the team led advice to EnerjiSA concerning licensing matters. Arkema and Engie are also new clients.

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Project finance/projects
Project finance/projects - ranked: tier 1

Paksoy

Paksoy’s department advises financial institutions, developers, contractors and commercial companies from the oil, gas and infrastructure sectors on financing, refinancing, licensing, acquisitions and regulatory filings. Recent work saw the team lead advice to GE Healthcare on risk mitigation and the contractual aspects of its PPP projects. In another highlight, practice head Zeynel Tunç assisted construction company Serka with legal matters pertaining to its container port project in Oman.

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Real estate and construction
Real estate and construction - ranked: tier 3

Paksoy

Elvan Aziz heads the real estate department at Paksoy and advises on matters such as contracts, agreements and due diligence. The construction practice is led by Zeynel Tunç, who is experienced in the energy and infrastructure sectors. Recent work includes advising Zenium Data Centers on all aspects of the development and operation of its data centre Istanbul One.

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Restructuring and insolvency
Restructuring and insolvency - ranked: tier 2

Paksoy

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 ƞansal Erbacıoğlu advised longstanding client PSP Investments on all fiscal aspects of a €9.3m debt restructuring.

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Tax
Tax - ranked: tier 2

Paksoy

Paksoy handles transactional and investment-related tax matters, as well as tax and customs disputes. The team, led by counsel ƞansal Erbacıoğlu, advises clients from a multitude of sectors, including pharmaceuticals, manufacturing, banking and insurance. Clients include Panasonic, EBRD and Nomura.

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Further information on Paksoy

Please choose from this list to view details of what we say about Paksoy in other jurisdictions.

Turkey

Offices in Istanbul

Legal Developments by:
Paksoy

  • SQUEEZE-OUT RIGHT IN PUBLIC COMPANIES -- TURKEY

    Squeeze-out and sell-out rights in Turkish public companies are regulated by the Communiqué on Squeeze-Out and Sell-Out Rights (the " Communiqué ") published in the Official Gazette dated 2 January 2014 effective as of 1 July 2014. The Communiqué was issued by the Capital Markets Board of Turkey (the " CMB ") in accordance with the Capital Markets Law and regulates the right to squeeze-out minority shareholders by the controlling shareholder and the minority shareholders' rights to exit the public company by selling their shares to the majority shareholder.
    - Paksoy

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

    2018 has been a turbulent year in the Turkish economy and by extension significant changes has taken place in the Turkish foreign exchange rules which was mainly triggered by the recent overshooting in the foreign exchange rates against Turkish lira.
  • 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.