Paksoy > Istanbul, Turkey > Firm Profile

Paksoy
ORJIN MASLAK, ESKI BUYUKDERE CADDESI NO:27, K:11
MASLAK
34398 ISTANBUL
Turkey

Turkey > Banking, finance and capital markets Tier 1

Paksoy, ‘one of the premier full-service Turkish law firms’, advises borrowers and sponsors on all kinds of domestic and international financing transactions spanning a variety of industries, including financial services, energy and infrastructure, logistics, chemicals, manufacturing, aviation and maritime, FMCG, and TMT. It is also the ‘go-to firm in Turkey’ for capital market transactions, and has a particular niche strength handling Islamic finance transactions, including sukuk issuances. Key practitioners include department-heads Ömer Çollak and Sera Somay and senior associate Beril Paksoy. The team advised Morgan Stanley, J.P. Morgan, and Goldman Sachs on the $780m Nasdaq IPO of Hepsiburada.

Practice head(s):

Ömer Çollak; Sera Somay

Other key lawyers:

Testimonials

‘Paksoy distinguished itself for its responsiveness and its precise, detailed advice.’

‘We worked mainly with Omer Collak who demonstrated a deep knowledge of Turkish civil, banking and bankruptcy law and provided very clear, detailed advice.’

‘Excellent job with very good knowledge.’

‘Sera and her team are really great. They deliver always and we are very happy with the cooperation and will definitely extend the relationship.’

‘As a firm / team, we have been working with Paksoy on Turkish finance and capital markets transactions for years, and they are our “go-to firm” in Turkey.’

‘I believe Paksoy is one of the premier full-service Turkish law firms. They generally have excellent lawyers that are experts on matters of Turkish law in their respective practice areas, with extensive experience working on international / cross-border transactions. The individuals I have worked with also speak fluent English.’

‘On the recent high yield bond offering, the main lawyers at Paksoy were highly knowledgeable and experienced banking and finance partner Sera Somay and senior associate Beril Paksoy.’

Key clients

Agence Française de Développement

Anadolu Efes

DZ Bank

Matriks and Garanti BBVA Securities

Islamic Development Bank

Istanbul Metropolitan Municipality

Limak

Morgan Stanley, J.P. Morgan, Goldman Sachs (underwriters to Hepsiburada IPO)

Standard Profil Automotive

Türkiye Sınai Kalkınma Bankası (TSKB)

Turkey > Commercial, corporate and M&A Tier 1

Paksoy houses a solid and ‘very well respected’ six-partner M&A practice, which is regularly involved in major transactions and garners praise for its ‘ability to work across borders easily’. The team, which handles deals focused on foreign investment in Turkish targets, as well as acting on the domestic side of global transactions, is jointly headed by transactional specialist Elvan Aziz; Togan Turan, who also heads the antitrust and competition practice; and IP and technology expert Stéphanie Beghe Sonmez. Additional expertise is provided by Nazlı Bezirci, who was promoted to partner in 2021.

Practice head(s):

Elvan Aziz; Stéphanie Beghe Sönmez

Other key lawyers:

Testimonials

‘The team works very well together, and liaises with cross-departmental teams very well (e.g. tax, regulatory). It strikes a very good balance between partners and associates (senior and junior) – you always feel the right level is addressing your particular query (e.g. partner driven for contract negotiation and associate led for regulatory filings). It is a very well respected Corporate team in Turkey in terms of negotiations with counterparties.’

‘Nazli Bezirci: very responsive and capable lawyer. Gives sound and pragmatic advice and nothing is too much to ask. Nazli is very personable and maintains good relationships with counterparties/partners.

Stéphanie Beghe Sonmez: keeps calm and clear-minded when negotiations get very intense’.

‘Very good communication and ability to work across borders easily.’

‘Elvan Aziz & Nazli Bezirci – both very good at analysing technical issues and providing advice in the appropriate commercial context.’

Key clients

Amerisource

Bergen

Ageas Insurance International

AvalaraCisco

IMCD

Kibar Holding

Migros

Novartis/Sandoz

Orion Innovation Group

Qatar Investment Authority

Rovio Entertainment Corporation

Samba Financial Group

Siniora Food Industries

TEB (a BNP Paribas subsidiary)

Telus International

Vienna Insurance Group

Volex

Work highlights

  • Advised Ageas on the acquisition of a 40% stake in Aviva SA.
  • Advised Novartis on the sale of Sandoz Turkey’s manufacturing facility to Genveon.
  • Advised Vienna Insurance Group on the acquisition of Aegon entities in Turkey.

Turkey > Dispute resolution Tier 1

Paksoy's dispute resolution practice is ‘one of the very best in Turkey, and great for international clientsThe team, which copes well with ‘complex situations’, has good commercial litigation and arbitration skills, which it utilises in cross-border disputes, including shareholders’ disputes, post-acquisition claims, contracts disputes, and regulatory investigations. Respected arbitrator and litigator, Serdar Paksoy, jointly heads the department with the ‘brilliant’ Simel Sarıalioğlu, who was promoted to partner in 2021 and is recommended as a ‘great litigator’. Clients include high-profile domestic and international corporates from a variety of industries.

Practice head(s):

Serdar Paksoy; Simel Sarıalioğlu

Testimonials

‘Serdar Paksoy is among the Top 5 lawyers in the country. Simel Sarialioglu is also on top of the list of younger generation partners, she is doing great job with her team in this practice area.’

‘Paksoy’s dispute’s team is one of the very best in Turkey, and is great for international clients as they have very good language and cross-cultural skills.’

‘They are a highly sophisticated and knowledgeable team, excellent for complex situations.’

‘Simel Sariarioglu is brilliant and very easy to work with. A great litigator, she is particularly great for arbitration work: very knowledgeable, well connected and respected in the field and excellent in international environments.’

‘Absolutely professional and client-oriented team leading the litigations of their clients.’

‘The main quality of Paksoy team is their focus on obtaining favourable outcomes of the cases in which they are involved.’

‘The team is skilled and efficient in dispute resolution matters and show great interest in their work.’

‘The people at Paksoy are capable of dealing with cross-border legal matters and are proficient in this respect.’

Turkey > Restructuring and insolvency Tier 1

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.

Practice head(s):

Ömer Çollak; Sera Somay

Testimonials

‘The team at Pasksoy is extraordinarily professional, and technically strong with outstanding collaboration and communication skills.’

‘The individuals at Paksoy are top tier professionals. Specifically, Sera Somay was instrumental in all aspects of the project. She articulately explained all aspects relevant to Turkish law to the client and ourselves. She was timely with her advice and she made herself available whenever necessary. I would highly recommend her and the firm to anyone requiring advice from Turkish counsel.’

‘Deep knowledge and extensive experience in debt restructuring and collaterals.’

‘The Paksoy finance team is high calibre. The teams includes excellent lawyers and communicators who really know how to explain the specifics of the Turkish market to international investors and help investors to navigate the market.’

‘Sera Somay really stands out as a personable, collaborative lawyer who really knows the banking and finance market. She is supported by an excellent team of junior and mid-level lawyers who she carefully guides to produce very high-quality work. Sera takes client relationships seriously and provides excellent legal and transactional support.’

‘Sera Somay – very responsive and solution-oriented.’

Key clients

Anadolu Efes

Citadele Banka

Limak İskenderun

Standard Profil Automotive

Turkey > Competition Tier 2

Paksoy acts in the fall gamut of competition law matters, drawing on its wider knowledge of regulatory expertise that it has developed in its years as one of the leading independent full-service firms. Togan Turan heads the antitrust and competition department, as well as co-leading its M&A offering, providing a single point of contact for merger control filings and investigations arising from transactions. Counsel Gülçin Dere and associate Deniz Benli both frequently support the practice head.

Practice head(s):

Togan Turan

Other key lawyers:

Testimonials

‘The competition team at Paksoy are user-friendly, collaborative and responsive.’

‘Togan Toran is a reassuring presence who provides timely, pragmatic advice.’

‘Incredible responsive team with an in-depth knowledge of Turkish competition law.’

‘Associate Deniz Benli has a very pragmatic approach and is a pleasure to work with.’

Key clients

AmerisourceBergen

Aon

Blackstone

BNP Paribas / TEB

Daimler / Volvo

Danfoss

Guangdong Galanz

Imerys

Ineos

KKR

L Catterton

Nestlé

Nordic Capital

Siemens Healthineers

SK Capital

TCL Technology Group

Temasek Holdings

Work highlights

  • Advised Aon on the merger control filing for its acquisition of Willis Towers Watson.
  • Assisted L Catterton with a merger control notification to the TCA for the acquisition of Birkenstock Group.
  • Advised Guangdong Galanz on a merger control notification to the TCA for the acquisition of control over Whirlpool (China) through a partial tender offer for the acquisition of 51% to 61% of its issued shares.

Turkey > Employment Tier 2

Elvan Aziz heads the ‘knowledgeable, dedicated, resourceful and committed’ practice at Paksoy. The team regularly advices multinational and local companies on option/ incentive schemes and general strategy building HR issues, both hiring and terminations. The department is also particularly experienced in strategising and implementing the transfer of employees and has recently increased its activity handling union-related matters.

Practice head(s):

Elvan Aziz

Testimonials

‘The team is knowledgeable, dedicated, resourceful and committed to client needs. They are fantastic to work with.’

‘Elvan Aziz is exceptional. She has deep Turkish employment law knowledge and always made herself available during a demanding deal cycle.’

‘Paksoy has an excellent team of lawyers. Have used them for both banking transactions, as well as on employment matters.’

‘Paksoy’s experts in employment law are excellent practitioners. Their understanding of clients needs and approach of finding appropriate solutions are very comforting.’

‘Elvan Aziz is very hands on, business oriented and an expert person in the employment practice.’

Key clients

Cisco Systems

Credit Suisse

Hepsiburada

Essity

Facebook

Fast Retailing

Genel Energy

General Dynamics

JP Morgan

Mercury

Siniora Food

Turkey > Energy Tier 2

A diverse mix of domestic and international clients look to Paksoy‘s ‘extremely reliable and supportive‘ team for assistance with work in the energy sector, be it for financing and M&A or regulatory and compliance issues. The firm’s banking and finance department head Sera Somay is the primary contact for energy matters and has experience advising lenders on internationally financed power projects.

Practice head(s):

Sera Somay

Other key lawyers:

Soner Dağlı; Ali Batuhan Sevinç; Beril Paksoy

Testimonials

‘The team at Paksoy is extremely reliable and supportive and always delivers exceptional quality within the relevant deadlines at reasonable and competitive pricing.’

‘Sera Somay is an outstanding partner, supported by a group of excellent associates, including Beril Paksoy, Soner Dağlı and Ali Batuhan Sevinç. They are all highly motivated and responsive lawyers, who not only guide us through all of our legal issues, but also fully understand the needs and requirements of international businesses. Working with this excellent team guarantees success.’

Key clients

DZ Bank

EBRD

Nordex

Turkey > IT and telecoms Tier 2

Paksoy‘s broad offering in the telecoms and IT fields covers compliance and regulatory advice, assistance with data protection and emerging technology issues, and more general transactional and corporate support for clients operating or investing in these industries. Stéphanie Beghe Sönmez, who is experienced in advising on both the IT and IP aspects of transactions, co-leads the practice with fintech expert Sera Somay. Elvan Aziz is another key contact for commercial and labour law matters in these sectors.

Practice head(s):

Stéphanie Beghe Sönmez: Sera Somay

Other key lawyers:

Key clients

Avalara

Baxter

Canada Goose

Huawei

Matriks and Garanti BBVA Securities

Morgan Stanley, J.P. Morgan, Goldman Sachs (underwriters to Hepsiburada IPO)

Orion Innovation Group

Telus International

Tools for Humanity

Work highlights

  • Advised the underwriter banks Morgan Stanley, JP Morgan and Goldman Sachs on the $780m Nasdaq IPO of e-commerce platform Hepsiburada.
  • Advised Telus International on its acquisition of Lionbridge’s artificial intelligence business.
  • Advised Avalara, a tax compliance automation software developer listed on the NYSE, on its acquisition of German software company Inposia Solutions and the negotiation of software assignment and licence agreements.

Turkey > Project finance/projects Tier 2

Paksoy houses a ‘well-trained and experienced team with a very good sector knowledge. The team is led by ‘outstanding partnerSera Somay, whose practice encompasses a wide range of financing transactions. The team, which also includes senior associate Beril Paksoy, is well known for advising lenders, sponsors, institutional investors, contractors and operators in the power, oil and gas, infrastructure and healthcare sectors. It also has a good track record of advising on PPPs, assisting clients in relation to major public assets and infrastructure projects.

Practice head(s):

Sera Somay

Other key lawyers:

Testimonials

‘A well-trained and experienced team with a very good sector knowledge’

‘Sera Somay and her team are really great.’

‘The team at Paksoy is extremely reliable and supportive and it always delivers exceptional quality within the relevant deadlines at a reasonable and competitive price. All the team members fully understand the client’s needs, and having them on board guarantees the best possible service for clients.’

‘Sera Somay is an outstanding partner. She is supported by a group of excellent associates, including Beril Paksoy, who is highly motivated and always responsive, and not only guides us through all the legal issues, but also fully understands the needs and requirements of international businesses. Working with this excellent team guarantees the success of all relevant matters.’

Key clients

DZ Bank

EBRD

Helaba

Turkey > Real estate and construction Tier 2

The ‘friendly, competent and creative’ practice at Paksoy is best known for its expertise in large-scale real estate developments, advising on the structuring of deals and projects involving residential, industrial, commercial infrastructure and hospitality properties. Corporate and real estate expert Elvan Aziz heads the department; she has a focus on development work, including residential, commercial property and hotel projects, and on drafting and negotiating project agreements for developers and investors.

Practice head(s):

Elvan Aziz

Testimonials

‘Friendly, competent and creative.’

‘The team are very practical and results oriented. They are very good at sticking to deadlines.’

‘Elvan Aziz has a very good level of industry knowledge. Besides this, she also understands the details of a deal very well. Most of all I appreciate her patience when she has to explain the details to us.’

‘Wide range of capabilities. Responsive.’

Key clients

IMCD

Kıraç Gayrimenkul Yatırımı

Maher Yatırım Holding

Novartis / Sandoz

Qatar Investment Authority

Volex

Turkey > Media and entertainment

Paksoy advises its expanding media and entertainment client base on matters spanning a wide range of practice areas.

The firm: Paksoy is an independent full-service law firm in Istanbul focused on helping clients in a wide range of legal matters: cross-border investments, international business transactions, investigations, compliance and disputes. Established in 1997, Paksoy stands today as one of the strongest local legal brands in Turkey, focusing on numerous practice groups and sectors.

Areas of practice
Antitrust and competition: Paksoy advises on antitrust clearance for M&As before the Turkish Competition Authority and provides assistance in antitrust investigations and counselling with respect to commercial agreements.

Banking and finance: Paksoy has considerable experience in banking and finance work advising international and domestic investment and commercial banks, ECAs, borrowers and sponsors in leveraged and acquisition finance, asset finance and structured finance.

Capital markets: Paksoy advises financial institutions, investment banks, underwriters, managers and issuers in domestic and international markets on equity, debt and equity-linked transactions.

Compliance and investigations: Paksoy advises clients on anti-bribery and corruption reviews and investigations by public bodies and conducts compliance checks in connection with FCPA and UK Bribery Act.

Corporate and commercial: Paksoy advises listed and privately held entities on general corporate and contracts law, IT, licensing, marketing and distribution/agency agreements and corporate governance issues.

Data protection: Paksoy advises clients on data protection matters in the context of the new legal regime by drafting privacy policies, revising standard contracts, assessing preparedness for the implementation of new legal constraints and bringing existing databases into compliance.

Energy and natural resources: Paksoy advises leading global and domestic clients on major projects in Turkey in connection with concession and licence-based energy and natural resources deals.

Infrastructure, PPP and construction: Paksoy has significant experience in PPPs, representing clients in major public assets and infrastructures, advises contractors and owners in projects involving construction, operation and maintenance of complex structures, plants, infrastructure systems, shopping malls and mine operation sites.

Islamic finance: Paksoy has been at the forefront of Islamic product development in Turkey and advises the sovereign, conventional and Islamic financial institutions, investors, and corporate borrowers on all aspects of Islamic finance.

Labour and employment: Paksoy provides clients with advice on all aspects of individual and collective labour law, including localisation and drafting employment agreements and bylaws, as well as termination-related documentation and outsourcing agreements.

Litigation and dispute resolution: Paksoy acts for clients in litigation and arbitration work covering areas of contract, tort, fraud, shareholder disputes, procurement matters, product liability, employment, competition, bankruptcy and insolvency.

M&A: Paksoy provides advice to global clients on cross-border transactions and domestic investments in a wide range of sectors, represents investors from strategic to private equity houses and provides sell-side advisory services.

Project finance: Paksoy advises the lenders, sponsors, project companies, contractors and operators in various types of projects including power, oil and gas, mining, infrastructure, healthcare and shopping mall projects.

Real estate: Paksoy handles a wide variety of real estate development projects including joint venture and revenue sharing systems, sale and purchase of property, long-term leasehold contracts, construction loans and leases of residential and commercial properties.

Tax and fiscal services: Paksoy provides clients advice on all types of taxation events, on corporate, income tax, VAT and stamp duty as well as transfer pricing, expatriate taxation and international tax structurings.

DepartmentNameEmailTelephone
Antitrust and competition M Togan Turan
Banking and finance Sera Somay
Capital markets Ömer Çollak
Compliance and investigations Serdar Paksoy
Corporate and commercial Elvan Aziz
Corporate and commercial M Togan Turan
Corporate and commercial Stéphanie Beghe Sönmez
Data protection Stéphanie Beghe Sönmez
Islamic finance Sera Somay
Labour and employment Elvan Aziz
Litigation and dispute resolution Serdar Paksoy
M&A Elvan Aziz
M&A M Togan Turan
M&A Stéphanie Beghe Sönmez
Real estate Elvan Aziz
Tax and fiscal services Sansal Erbacioglu
PhotoNamePositionProfile
Ms Elvan Aziz photo Ms Elvan AzizElvan Aziz is the partner heading the corporate practice of the firm,…
Ms Stéphanie Beghe Sonmez photo Ms Stéphanie Beghe SonmezStéphanie Beghe Sönmez is the partner, regularly advises on foreign law aspects…
Mr Ömer Çollak photo Mr Ömer ÇollakÖmer Çollak is the partner heading the capital markets practice of the…
Mr Serdar Paksoy photo Mr Serdar PaksoySerdar Paksoy is the founder and senior partner of the firm. For…
Ms Sera Somay photo Ms Sera SomaySera Somay is the partner heading the banking and finance practice of…
Mr M. Togan Turan photo Mr M. Togan TuranTogan Turan is the partner heading the competition practice of the firm…
Number of lawyers : 55+
English
French
German
Turkish
Contact : Serdar Paksoy (founder/senior partner)