Firm Profile > Paksoy > Istanbul, Turkey


Banking, finance and capital markets Tier 1

Paksoy's expertise extends across conventional banking and finance transactions, debt and equity capital markets, and Shariah-compliant financing, including sukuk issuances. On the lender side, the team acts for international banks, financial institutions, and Islamic lenders, while borrower-side clients include private and listed companies. Highlights from the past year have included international syndicated lending, club loans, and mezzanine finance. The practice group is led by Ömer Çollak, who heads the capital markets team and has experience of innovative products such as green bonds; and Sera Somay, who oversees the banking and restructuring practices and is recognised as a market leader in several sectors.

Practice head(s):

Ömer Çollak; Sera Somay


‘The firm has outstanding banking & finance & capital markets experience with a variety of domestic and international clients. The team members are very business minded,solution oriented, they have high quality client management skills, they are responsive within short deadlines. ’

‘Sera Somay is one of the outstanding lawyers in Islamic finance in Turkey, she is business minded, fast, pragmatic and solution oriented. When I work with Sera, I feel that I am in safe hands.

‘The Paksoy team is one of the leading Turkish law firms in the area of financing.

Key clients

Albaraka Türk Katılım Bankası

Agence Française de Dévelopement

ABC Islamic Bank

AKA Bank Ausfuhrkredit-Gesellschaft


Bank of China

Borusan Holding

BNP Paribas


China Development Bank

Çalık Holding

DZ BANK AG Deutsche Zentral-Genossenschaftsbank

FIBA Holding

Finans Financial Leasing





Turk Eximbank (Export Credit Bank of Turkey)



Turkish Treasury


Commercial, corporate and M&A Tier 1

The team at Paksoy is regularly involved in large-scale cross-border transactions and also provides comprehensive corporate and commercial advice to multinationals relating to their operations in Turkey. Notable clients include Dow Chemicals, BNP Paribas, and BAE Systems, reflecting the firm's broad sector expertise across heavy industrials, defence, energy, and financial services. Elvan Aziz co-leads the M&A team and heads up the corporate and commercial practice, showcasing strengths in transactional work and corporate governance. M&A co-head Togan Turan has significant regulatory expertise, handling competition filings and other strategic antitrust matters. Tech and IP specialist Stéphanie Beghe Sönmez also co-leads the M&A group.

Practice head(s):

Elvan Aziz; Togan Turan; Stéphanie Beghe Sönmez

Other key lawyers:

Nazlı Bezirci


‘Paksoy as a long standing, established law firm, has long proved its quality and expertise in all fields, particularly in M&A. Due to the high number of deals they are involved, one can always benefit their experience. They are very accessible, and they have easy going partners.’

‘Elvan Aziz is an exceptional partner with her accessibility and her passion for work as well as her expertise.’

‘Very good capacity to understand the client’s need flexible and adaptable to the need of the client very pro active and proposing consistent solutions’

‘Paksoy is very available when there are urgencies and crisis. There is a very good synergy between the partner and the associate. ’

‘Excellent English language skills and technical skills’

‘Outstanding commercially-oriented and practical advice. Very knowledgeable and responsive. ’

‘Elvan Aziz leads an incredible team. She is smart, focused and very practical.’

Key clients

Ahli United Bank

BAE Systems

beIN Media

BNP Paribas



Compass Group


Deutsche Beteiligungs

The Dow Chemical Company



I Squared Capital

Novartis / Sandoz


Telus International

Project finance/projects Tier 1

The 'skilled and proactive' team at Paksoy advises a diverse range of lenders, sponsors and institutional investors on projects including infrastructure, energy, healthcare and property developments, with significant expertise in public projects and PPPs. The team regularly acts for international clients on cross-border mandates, and handles complex financing arrangements as well as contracts and regulatory issues. The team is led by banking and finance expert Sera Somay, who handles lending and loan restructuring matters.

Practice head(s):

Sera Somay


‘Skilled and proactive team. Provides confidence and high knowledge on the sector.’

‘An excellent law firm, leading in the field of project finance and projects, which is extremely responsive, knowledgeable and committed.’

Key clients

Acacia Maden

ING Bank


GE Healthcare


Eesti Energia


Restructuring and insolvency Tier 1

Paksoy has standout expertise acting for lenders, advising a significant number of major international banking and financial services clients, including the EBRD and World Bank, on high-value debt restructuring, recovery, and refinancing matters. The team also advises corporates and borrowers on  reorganisations, debt restructurings, and bankruptcy proceedings. The team is led by Sera Somay, a specialist in banking and finance-related restructurings, bankruptcies, and debt investments,  Elvan Aziz, who handles corporate restructuring matters, and capital markets leader Ömer Çollak. Counsel Şansal Erbacıoğlu handles tax and other fiscal issues, while senior associate Doğuhan Uygun is an active commercial litigator.

Practice head(s):

Elvan Aziz; Ömer Çollak; Sera Somay

Other key lawyers:

Şansal Erbacıoğlu; Doğuhan Uygun 

Key clients

Citigroup Global Markets, DBS Bank, HSBC

Döktaş Dökümcülük

Insol International

Milli Reasürans Türk

World Bank Group

Competition Tier 2

Togan Turan heads up the competition team at Paksoy, acting for a range of clients including multinational businesses, private equity investors, such as Blackstone, and major Turkish companies in competition and antitrust-related cases. Work flows include merger control filings for large-scale cross-border M&A, and investigations by the TCA, including allegations of cartel behaviour, abuse of dominance, and price-fixing. Turan has a strong reputation in Turkish competition law, and is supported by counsel and former TCA official Gülçin Dere.

Practice head(s):

Togan Turan

Other key lawyers:

Gülçin Dere


‘Solid firm providing sound advice at a good price’

‘Togan Turan manages the team very well, getting involved when he needs to. Very reasonable on fees.’

Key clients





Daelim Industrial

Expedia Group

Gardner Denver


JFE Steel Corporation


Moog Group

Petrochemical Industries Company K.S.C.

Solmaz Gümrük Müşavirliği

Total Oil Türkiye

ZF Friedrichshafen

Zurich Insurance

Dispute resolution Tier 2

Paksoy has a broad practice in commercial dispute resolution, representing a wide range of high-profile domestic and international clients in industries such as financial services, aerospace and defence, retail, and private equity. Particular strengths for the firm include work on behalf of international firms, and intellectual property disputes. Serdar Paksoy heads up the team, and is highly respected by clients and peers as a litigator and international arbitrator. Counsel Simel Sarıalioğlu is similarly well-regarded, and has extensive international law experience. Onur Çeliker joined from Pekin & Pekin in mid-2020, specialising in corporate fraud and debt execution.

Practice head(s):

Serdar Paksoy

Other key lawyers:

Simel Sarıalioğlu; Onur Çeliker


‘Hands-on and attentive team at every level.’

‘Serdar Paksoy, great expertise and wide perspective in an every legal matter. Simel Sarıalioğlu, a great senior lawyer with the correct attitude. I see her more like a corporate lawyer in the litigation field. ’

‘Their knowledge and experiences on litigation&arbitration processes impressed us about them.

‘Excellent English language skills and technical knowledge’

‘It is mostly the personal attention of Mr. Paksoy that makes this practice stand out. He is a perfectionist and he makes sure the work is delivered at a very high quality level. The team is a diverse group, each associated with a different skill and focus area.’

‘Mr. Serdar Paksoy is a respected figure in the market. He is an experienced and confident litigator who especially can make a difference in oral hearings at courts with his exceptional speech skills. If you hav a a high profile case, he brings value by not only the quality of work but also with his presence and personal involvement.’

Key clients


BHP Billiton



DAF Trucks



MAN Truck & Bus



The Dow Chemical Company


Employment Tier 2

The 'experienced' and 'high calibre' team at Paksoy advises international clients on day-to-day employment matters, Turkish labour law issues, and represents in litigation relating to issues such as termination, criminal background checks, and compensation. The practice works closely with the firm's corporate, tax, and litigation teams on complex issues such as collective redundancies and work accidents, as well as working on regulatory compliance issues. The team is led by the 'talented' and 'standout'. Elvan Aziz, an advisor to major corporates on a range of employment issues, supported by senior associate Gülce Saydam Pehlivan.

Practice head(s):

Elvan Aziz

Other key lawyers:

Gülce Saydam Pehlivan


‘Solid advice from corporate lawyers with employment law expertise. ’

‘The team is very responsive to quick-turn requests and communicates very clearly.’

‘The Paksoy employment team, headed by Elvan Aziz, is very experienced, responsive and commercial in their advice to clients. ’

‘Elvan Aziz is a very talented lawyer and explains complex local employment law aspects commercially and easily for foreign investors to understand. She clearly stands out among other peers.’

‘We frequently work with this team in international projects, as they are very responsive and provide excellent, but usable advice. ’

‘Very approachable, friendly folks, that are very responsive and always push the envelope to get things done. ’

‘Very responsive, quite high-calibre, and good, clear command of English.’

Key clients




Doğan Grubu


Genel Energy


The Hongkong and Shanghai Hotels

Energy Tier 2

Paksoy advises a diverse array of clients, including state-owned bodies, contractors, financial institutions, and oil & gas companies, handling a combination of transactional, regulatory, and project development matters within the energy industry. The team advises on issues such as environmental regulations and zoning, as well as procurement and portfolio transactions, energy plant construction and operations, and financings.


‘They try to be part of the business and that they put themselves in your shoes.’

‘Paksoy stands out for the quality of its legal opinions. They offer an in-depth study of the topic at hand, and provide clearly structured documents which are easy to comprehend by both lawyers and general managers. They are responsive to additional client requests to a considerable extent without extra charges. Paksoy’s team lives up to their promises and commitments and is always ahead of deadlines.’

Key clients

Eesti Energia

Elawan Energy

ING Bank

IT and telecoms Tier 2

Paksoy combines a full-service corporate offering to clients in the IT, innovation technology, and telecoms sectors with dedicated expertise in each industry, encompassing regulatory issues, legislation, and corporate strategy. The firm advises clients including BAE Systems, WarnerMedia, and BeIN on matters including data protection, IT projects and procurement, regulatory frameworks, and tech M&A. The team is led jointly by Stéphanie Beghe Sönmez, who combines M&A experience with data protection and intellectual property expertise, and Sera Somay, who handles IT and fintech matters.

Practice head(s):

Stéphanie Beghe Sönmez; Sera Somay


‘They are very knowledgeable about applicable law, very responsive and provide good legal advice and are not very expensive. They speak fluent English, which makes it easier for their clients who do not speak Turkish.’

Key clients

BAE Systems Turkey

beIN Media


Burloak Technologies

Canada Goose




Good Job Games




Telus International



Real estate and construction Tier 2

Paksoy advises on large-scale real estate development projects, handling deal structuring work, financings, transactions, developments and operational issues, working in close collaboration with the firm's corporate and tax departments. Clients include major corporates in the retail, hospitality, energy, and defence sectors, real estate developers and banks. Standout matters include handling hotel and infrastructure developments on behalf of multinational clients operating in Turkey. The team is led by Elvan Aziz, who also heads up the firm's corporate team and handles large-scale transactions and corporate issues for real estate clients.

Practice head(s):

Elvan Aziz


‘The quality of their job stands out, they try to be part of the business and they put themselves in your shoes.’

‘Proactivity, kindness and knowledge.’

Key clients

Deutsche Bank

Orjin Group

Bank of Shanghai

Tax Tier 2

Paksoy advises corporate clients on a wide variety of Turkish tax issues, encompassing income and corporate taxation, VAT, advice on cross-border M&A and capital markets transactions, and industry-specific project taxation matters. The practice works with the firm's corporate client base, which includes multinational businesses in the retail, financial services, and energy sectors, as well as investment funds and international law firms. Counsel Şansal Erbacıoğlu leads the team, and is a specialist tax lawyer with experience at a Big Four consulting firm, focusing on tax structuring. Senior associate Onur Çeliker joined the firm from Pekin & Pekin  in 2020, bolstering the team.

Practice head(s):

Şansal Erbacıoğlu


‘Sansal was very helpful and responsive, providing considered advice on complicated Turkish tax and fiscal issues, whilst being very accommodating to the client’s particular concerns and the transaction structure.’

Key clients



Medicana Health Group

Multi Corporation

Samsun Yurt Savunma

The firm: Paksoy is an independent full-service law firm in Istanbul, Turkey focused on helping clients in a wide range of legal areas: 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.

Department Name Email Telephone
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
Photo Name Position Profile
 Ömer Çollak  photo Ömer Çollak Ömer Çollak is the partner heading the capital markets practice of the…
Ms Elvan Aziz  photo Ms Elvan Aziz Elvan Aziz is the partner heading the corporate practice of the firm,…
 Stéphanie Beghe Sonmez  photo Stéphanie Beghe Sonmez Stéphanie Beghe Sönmez is the partner, regularly advises on foreign law aspects…
Mr Serdar Paksoy  photo Mr Serdar Paksoy Serdar Paksoy is the founder and senior partner of the firm. For…
Ms Sera Somay  photo Ms Sera Somay Sera Somay is the partner heading the banking and finance practice of…
Mr M. Togan Turan  photo Mr M. Togan Turan Togan Turan is the partner heading the competition practice of the firm…
Number of lawyers : 55+
Contact : Serdar Paksoy (founder/senior partner)