ASC Law Office's practice bring together notable team members, including Okan Beygo and Levent Yetkil, who earn plaudits for their ‘extensive knowledge’. Acting regularly for both borrowers and lenders, the team is regularly involved in significant restructurings and refinancings, of late, advising Ziraat Bank on the Türkcell Shareholding Restructuring. Former partner Denel Balcı left the firm in 2021.

Well known for covering the financial, dispute management and insolvency aspects of restructuring for an impressive roster of clients, the practice at Esin Attorney Partnership, a Member Firm of Baker McKenzie International, a Swiss Verein advises on bankruptcy, reorganisations and debt restructuring matters. Muhsin Keskin, head of the banking and practice department, heads the practice alongside Koray Söğüt and Yalın Akmenek, who jointly head the firm's disputes practice. Recent highlights include advising Özgörkey Holding and Etapak Baskı Ambalaj San. ve Tic on the restructuring of their financial indebtedness to Turkish banks and financial institutions, which amounts to $200m.

One of the leading players in the restructuring market in Turkey, GKC Partners (in professional association with White & Case) has a solid track record primarily representing lenders in large-scale restructurings carried out in the domestic financial sector. Notable highlights include handling the financial restructuring of four Turkish premier league football clubs; Beşiktaş, Fenerbahçe, Galatasaray and Trabzonspor, totalling $1.1bn. Güniz Gökçe and Ateş Turnaoğlu jointly head the practice.

Hergüner Bilgen Üçer Attorney Partnership has a strong presence in the market in part due to its expertise in a wide variety of work, with particular prowess handling the restructuring and refinancing of infrastructure projects, corporate restructuring, debt and loan restructuring projects as well as contentious matters representing both debtors and creditors. Key practitioners include Kayra Üçer, who has significant experience handling the liquidation of assets, corporate restructuring, and capital increases, and banking head Piraye Kuranel Başol.

Paksoy's 'technically strong' team has ‘deep knowledge and extensive experience in debt restructuring’, corporate restructuring and bankruptcy proceedings. The practice's expertise also encompasses refinancing of bank debt with alternative funding such as capital markets. Sera Somay, who is particularly skilled in handling debt restructuring, debt collection proceedings and bankruptcy proceedings, and capital markets specialist Ömer Çollak are the key contacts in the team, which of late has been specially active in the aviation, banking, construction and engineering, food and beverages, and energy sectors.

Balcioglu Selçuk Ardiyok Keki's practice covers the gamut of insolvency and restructuring matters, showing a particular strength in credit risk management, cross-border restructurings, debtor representation, as well as in insolvency, litigation, mediation, and safeguard proceedings. Günhan Yalçın, who is highly experienced in domestic and cross-border debt finance transactions; Barlas Balcıoğlu, Selim Keki, Doğan Eymirlioğlu, Semih Sander, and Galip Selçuk, who frequently advises management and stakeholders on distressed M&A and corporate restructurings, are the standout names.

CIFTCI Attorney Partnership in association with Clifford Chance is a popular choice for corporates, private equity investors and international banks. Sait Eryilmaz, promoted to partner in January 2021, heads the practice and is highly adept at finance transactions, with a good track record in restructuring, refinancing and insolvency matters with a specific focus on the energy and infrastructure sectors. Other areas of expertise include finance, regulation, real estate, and derivatives.

DURUKAN+PARTNERS specialises in the restructuring of secured and unsecured financing - mainly on the borrower side - bankruptcy and insolvency. Banking and finance specialist Begüm Durukan, who is praised for his ‘client-focused’ approach, heads the department. Recent highlights include assisting Emaar in the restructuring of the $500m loan facility for the financing of the Emaar Square Project.

Egemenoglu Law Firm's restructuring and insolvency practice earns plaudits for its ‘powerful technical knowledge’ and is jointly headed by Yunus Egemenoğlu and Turan Doğan. The team is known for being one of the first departments to focus on the use of Concordatum procedure, an option for distressed companies in search of certain protection. Dilek Gürsan, head of the litigation group, brings additional expertise to the practice, which is also a frequent presence before the local bankruptcy courts, representing both creditors and debtors.

Moroglu Arseven advises on all stages of financial distress, including contentious restructuring and insolvency, areas supported by the firm's corporate, dispute resolution, employment and tax practices. The team headed by Benan Arseven and Seyfi Moroğlu, covers debt restructuring, enforcing securities, distressed M&A, as well as advising secured and unsecured creditors on their rights. Burcu Tuzcu Ersin, and disputes specialist Burak Baydar are other names to note.

Zihni Bilgehan, Ergun Ersoy, and Emre Ersoy head the practice at Ersoy Bilgehan Lawyers & Consultants, which handles company restructuring, debt restructuring and liquidation procedures, both at a domestic and international level. Other areas of expertise include bankruptcy litigation and enforcement proceedings. The team's client roster includes major banks and financial institutions, including Hamburg Commercial Bank, Deutsche Bank, European Bank of Reconstruction and Development and Credit Suisse.

Tunc Firat Dereli Attorney Partnership has restructuring and finance expertise across a full spectrum of products and structures. The team, which is led by Hüseyin Dikme, Medet Çınar and Mahmut Fırat, is regularly retained by corporate debtors and insolvency practitioners and other stakeholders in a debtor's capital structure, including banks, bondholders and financial sponsors, in addition to funds and companies looking to invest in or acquire a distressed business.

YBK Law Firm in Cooperation with CMS has strong credentials advising on market exits from Turkey, putting to use the wider firm's corporate/M&A, employment and disputes expertise. The department is also a preferred choice for financial restructurings, an area where Alaz Eker Undar leads. Practice head Döne Yalcin is particularly experienced in advising on restructuring and reorganisation matters.