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White & Case Europe Danışmanlık Hizmetleri Avukatlık Ortaklığı

BÜYÜKDERE CADDESI NO: 102 KAT: 28/109, 34394 ESENTEPE, ISTANBUL, TURKEY
Tel:
Work +90 212 354 2000
Fax:
Fax +90 212 354 2001
Email:
Web:
https://www.whitecase.com

Turkey

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

GKC Partners

GKC Partners is noted for its ‘strong industry knowledge, experience and good judgement’. Practice head Güniz Gökçe is ‘the driving force behind the team’, and Derin Altan advises on capital markets matters. The team is active on both the sponsor and lender side and handles project finance, financial restructuring and refinancing. Recent highlights include assisting a group of banks, including Türkiye Garanti Bankası and the EBRD, with the refinancing of existing debts and the financing of new investments in the electricity distribution sector. Borrower-side work includes advising Kazancı Holding and Doğal Gaz Dağıtım on obtaining $800m in refinancing and investment loans. The firm’s client roster also includes Yapı Kredi, Akbank and IFC.

Leading individuals

Güniz Gökçe - GKC Partners

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 1

GKC Partners

Despite the relatively calm M&A market in Turkey, GKC Partners continues to be involved in significant domestic and cross-border transactions. In one recent highlight, the team led advice to Qatar Holding as part of a joint venture acquiring approximately 79.5% of the shares of the country’s largest poultry producer, Banvit. Other key strengths of the practice are day-to-day corporate advice, drafting and review of contracts and agreements, as well as due diligence. Emre Özşar heads the team and Rozita Nigrin-Borden is another key figure. Ceylan Kara was made partner in January 2017 and is particularly experienced in the banking and insurance sectors.

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Competition
Competition - ranked: tier 3

GKC Partners

GKC Partners’ competition practice is led by recommended counsel Sezin Elçin-Cengiz and provides ‘proactive, detailed and precise’ advice on contentious and non-contentious matters, including merger filings, compliance and litigation. It also represents clients in cartel and abuse of dominance investigations. Recent work includes representing Société Générale in a preliminary investigation conducted by the Turkish Competition Authority. Other clients include Nestle Waters, IFM Investors and Turkish Banks Association.

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Dispute resolution
Dispute resolution - ranked: tier 2

GKC Partners

GKC Partners’ dispute resolution practice is led by Yalın Akmenek. The team handles arbitration and litigation and has particular expertise in the energy and construction sectors. The team advises on disputes regarding employment, corporate and tax law and recently led advice to Uni-Mar regarding its tax lawsuits against the Ministry of Finance. Zeynep Çakmak departed to Çakmak Avukatlık Ortaklığı in February 2018.

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Employment
Employment - ranked: tier 2

GKC Partners

The ‘excellentGKC Partners is recommended for its ‘detailed knowledge in very complex areas’ of employment law. The team is led by Rozita Nigrin-Borden and handles labour-related disputes, collective dismissals and the employment aspects of M&A transactions. The client roster includes Goldman Sachs, TUI, IFM and Boeing.

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Energy
Energy - ranked: tier 2

GKC Partners

GKC Partners is particularly experienced in project finance and refinancing matters in the energy industry. The team also advises on transactions and regulatory matters. Recent highlights include advising Kazancı Holding and natural gas distributor Aksa on investment loans and refinancing from a consortium of seven banks. The client base includes energy companies, investors and banks. Güniz Gökçe is the key figure in the department; Zeynep Çakmak departed to Çakmak Avukatlık Ortaklığı in February 2018.

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Foreign firms
Foreign firms - ranked: tier 1

White & Case Europe Danışmanlık Hizmetleri Avukatlık Ortaklığı

White & Case Europe Danışmanlık Hizmetleri Avukatlık Ortaklığı maintains its affiliation with GKC Partners in Istanbul, whereas the association with Ankara-based Çakmak Avukatlık Ortaklığı ended in July 2016. The firm is particularly well known for its experience in banking, finance, capital markets, dispute resolution and cross-border M&A. In one recent highlight, the team advised Spanish bank BBVA on the €859m acquisition of an additional 9.95% stake in Garanti Bank. Asli Basgoz is the key contact.

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Insurance
Insurance - ranked: tier 2

GKC Partners

GKC Partners advises insurance companies and banks, such as BNP Paribas, on transactions and competition-related matters. Sezin Elçin-Cengiz and Yalın Akmenek are active in the sector.

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Project finance/projects
Project finance/projects - ranked: tier 2

GKC Partners

GKC Partners is experienced in advising local banks, lenders and sponsors on the financing and refinancing of projects in the renewable energy, health and infrastructure sectors. The team is led by Güniz Gökçe, after the departure of former practice head Zeynep Çakmak to Çakmak Avukatlık Ortaklığı in February 2018. Recent work saw the team lead advice to Yapı ve Kredi Bankası regarding the financing of solar energy plants by Hanwha Group. Other clients include DenizBank, Ziraat Bankası and Garanti Bankası.

Leading individuals

Güniz Gokce - GKC Partners

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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
  • 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.
  • Recent Measures to Support Financial Stability in Turkey

    The Banking Regulation and Supervision Authority (the “BRSA ”) and the Central Bank of the Republic of Turkey (the “Central Bank ”) introduced certain legislative changes, to support financial stability and sustain the effective functioning of markets, following the plunge in the value of Turkish Lira.>
  • Non-liability of the Shareholders and Piercing the Corporate Veil

    1.      Introduction
  • Non-liability of the Shareholders and Piercing the Corporate Veil

    1.      Introduction
  • Quarterly Update on Trade Defense Cases in Turkey, June 2018

    In Turkey, the authority to initiate dumping or subsidy examinations, upon complaint or, where necessary, ex officio , is given to the Ministry of Economy ("Ministry"). Within the scope of this authority, the Ministry announces its decisions with the communiqués published on the Official Gazette.