Paksoy > Istanbul, Turkey > Firm Profile
Paksoy Offices
ORJIN MASLAK, ESKI BUYUKDERE CADDESI NO:27, K:11
MASLAK
34398 ISTANBUL
Turkey
Paksoy > The Legal 500 Rankings
Turkey > Banking, finance and capital markets Tier 1
Paksoy provides ‘top-level advice and support in banking and finance transactions in Turkey‘ and is best known for its counsel to foreign banks, international financial institutions and large corporate borrowers on transactional and regulatory matters. Recent advice to Deutsche Bank on its €925m financing to Turkey’s state-owned oil and gas company Botaş was a standout highlight, representative of the team’s prowess. On the capital markets front, Ömer Çollak heads the department that assists with equity, debt and equity-linked transactions, including IPOs and SPOs, debt offerings, sukuk offerings and regulatory matters. ‘Exceptionally talented partner‘ Sera Somay leads the banking and finance side and is well-versed in advising on a variety loan products and all forms of secured financing. Counsel Ökkeş Şahan draws on professional experience at the Capital Markets Board of Turkey to support Çollak on that side. Senior associates Beril Paksoy and Merve Kurdak both regularly assist the practice heads.Practice head(s):
Ömer Çollak; Sera Somay
Other key lawyers:
Testimonials
‘Team is capable and talented.’
‘Ömer Çollak is one of the best lawyer in banking, finance and capital markets issues.’
‘This team has been providing top-level advice and support in banking and finance transactions in Turkey as a combination of unique knowledge, commitment to high-quality standards and dedication.’
‘Sera Somay is an exceptionally talented partner. Beside her undeniable technical skills, Sera has a solid understanding of commercial aspects of a finance deal and of a client’s needs with a highly appreciated attitude to find viable solutions to complex problems.’
‘The team is customer friendly and now what they are doing most of the time. Besides their legal expertise, they have a commercial point of view that makes the difference. Almost always available for most of the time when things get intense.’
‘Merve Kurdak stands out with her exceptional commitment.’
‘Paksoy is one or our go to firms for Turkish advice in connection with our finance and capital markets transactions. I believe Paksoy is generally a leading firm and also one of the bigger firms in Turkey. The team is highly experienced with cross-border transactions, and the firm offers a one-stop shop, e.g. they are also able to help resolve any specialist issues (such as tax) that may come up in connection with a transaction.’
‘On a recent high yield bond offering and super senior revolving credit facility, I worked particularly closely with partner Sera Somay and senior associate Beril Paksoy. Both are a pleasure to work with, fluent in English, highly responsive and experienced with international finance transactions and prepared to go the extra mile.’
Key clients
Agence Française de Développement (AFD)
Aka Bank
Albaraka Group
Anatolia Tanı ve Biyoteknoloji Ürünleri
BNP Paribas Cardif
Borusan Holding
Coca-Cola İçecek
DIB
Döktaş Dökümcülük
DZ Bank
Emirates NBD
Fiba Holding
Finans Leasing
ING Bank
İşbir Sentetik
Landesbank Hessen-Thüringen Girozentrale (Helaba)
LimakPort
Masraf Al Rayan
MIGROS
MUFG Bank
Mizuho Bank
Odeabank
Pasha Yatırım Bankası
Qinvest
SASA
TEB
Tristone
Turkcell
Türk Eximbank
Türkiye Sınai Kalkınma Bankası (TSKB)
Zorlu Group
Work highlights
- Advised Coca-Cola İçecek on a sustainability-linked bond offering.
- Advised Deutsche Bank on a €925m financing to Turkey’s state-owned oil and gas company Botaş.
- Advised Osmangazi Elektrik Dağıtım (OEDAŞ), an electric distribution company, on a €375m financing.
Turkey > Commercial, corporate and M&A Tier 1
Paksoy‘s ‘strong, experienced and commercial team‘ for corporate law more than holds its own against the international firm affiliates in the market, handling foreign investment in Turkish targets, in addition to being favoured counsel for domestic parties in global transactions. Clients include a diverse list of companies, as well as prominent domestic and international private equity houses, for whom the firm acts on both on the sell-side and the buy-side. Three lawyers spearhead the department: Elvan Aziz, whose broad business law expertise also includes labour and real estate law; Togan Turan, whose M&A work includes due diligence investigations, contract drafting, and negotiating and structuring deals; and technology and digital services expert, Stéphanie Beghe Sonmez. Nihan Bacanak and Nazlı Bezirci are young partners with strong practices in the area.Practice head(s):
Elvan Aziz; Togan Turan; Stéphanie Beghe Sönmez
Other key lawyers:
Testimonials
‘The team is very knowledgeable on corporate and banking regulatory aspects.’
‘The team is very reactive. In particular, partner Stephanie Beghe is client oriented and always tries to find solutions.’
‘Strong, experienced and commercial team. Very committed to the project.’
Key clients
BPCE / Natixis
Carrefour
DW Reusables
European Bank for Reconstruction and Development (EBRD)
Fedrigoni
GeoPost
General Atlantic
Global Founders Capital
Imerys
Landis+Gyr
OLX Autos
Orica
PwC
Qatar Investment Authority
Sisal Lottery
WarnerMedia
Work highlights
- Acted for General Atlantic in its share subscription in domestic e-commerce platform Trendyol.
- Advised Qatar Investment Authority on the Series D funding round of B2B SaaS platform Insider.
- Advised Landis+Gyr on its acquisition of smart metering devices company Luna Elektrik.
Turkey > Dispute resolution Tier 1
Paksoy's dispute resolution practice is admired for its combination of 'experience and perfect knowledge of the local market and courts with a true international mindset and adaptability'. The team has a strong track record in complex commercial disputes, as well as in more specified contentious matters, drawing on other departments of the full-service firm. Practice head Serdar Paksoy is 'a litigation giant in Turkey' and an experienced counsel in domestic Turkish courts, international arbitration, and an arbitrator in arbitral tribunals. Simel Sarıalioğlu 'is excellent for litigation or arbitration alike', and senior associate Doğuhan Uygun provides additional support.Practice head(s):
Serdar Paksoy
Other key lawyers:
Testimonials
‘The team is excellent, they combine experience and perfect knowledge of the local market and courts with a true international mindset and adaptability. the quality of legal service is top notch as the team members are excellent lawyers and litigators as well as very committed.’
‘Senior partner Sedar Paksoy is a litigation giant in Turkey and rightly so, he is very experienced and displays fantastic legal and strategic finesse.’
‘Simel Sarıalioğlu is excellent for litigation or arbitration alike. She is a fierce litigator and a true sentinel for the safeguarding of clients’ best interests. Easy to work with and very collegial.’
‘Senior associate Doğuhan Uygun is very knowledgeable and a great asset when you have him on the team.’
‘People are great and they are very experienced. They are very collaborative.’
‘Simel Sarialioğlu is a good professional. She responds to our questions very quickly and comes up with ideas that we can use during our process. As far as I observe, she has experience and knowledge in international arbitration.’
‘Competence and availability.’
‘Incredible professionals.’
Key clients
Corteva
Edwards Lifesciences
Pikasan
Turkey > Restructuring and insolvency Tier 1
The restructuring and insolvency practice at Paksoy is best known for corporate restructurings, debt to equity conversions, NPLs, refinancing transactions and insolvency-related advice, with its finance experts drawing on the support of a strong litigation team. Recently, the department has had an increased focus on the sale of NPLs and distressed loan books in the secondary market, on both buyer and seller sides. Elvan Aziz, Sera Somay and Ömer Çollak spearhead the practice, supported by tax partner Şansal Erbacıoğlu.Practice head(s):
Elvan Aziz; Ömer Çollak; Sera Somay
Other key lawyers:
Turkey > Competition Tier 2
Paksoy‘s diverse workload in competition law has included a large share of the market’s technology sector investigations, which have had a notable increase in recent years, as well as a host of cross-border merger filings. The ‘very responsive and dedicated‘ team is led by Togan Turan, who has been a key figure in the market for 15 years. The department has a large pool of non-partner lawyers from which, Gülçin Dere, Deniz Benli and Kansu Aydoğan Yeşilaltay all stand out.Practice head(s):
Togan Turan
Other key lawyers:
Testimonials
‘Very responsive and dedicated.’
‘The team respond very quickly and are very commercial in their approach.’
‘Kansu Aydogan really stands out – I have valued her quick responses and regular updates.’
Key clients
Al-Dabbagh Group / Gulf Refined Packaging
American Securities
BC Partners
Chubb Limited
Clayton, Dubilier & Rice / TPG
Concord Resources Limited
DL Chemical
Groupe Bruxelles Lambert
HAL Investments
Itochu Corporation
KKR & Co.
KKR & Co. / Global Infrastructure Partners
Landis+Gyr
Mandiant
Paper Excellence
Permira Advisers Holdings Limited / Affinity Equity Partners
Silverfleet
Tenneco
The Carlyle Group
Work highlights
- Advised of American Securities on the merger filing for its acquisition of Ferro Corporation.
- Acted for HAL Investments in the merger filing for its acquisition of Royal Boskalis Westminster.
- Advised Mandiant on the merger filing for the sale of the company to Google.
Turkey > Employment Tier 2
Paksoy assists clients on a range of labour matters including the drafting of employment contracts, stock option plans, bonus schemes, personnel handbooks and bylaws. Employment litigation is a key practice area for the team with the union matters being handled including representation before employee unions. Elvan Aziz leads the practice and advises on the implementation of management incentive schemes, HR aspects of restructuring and the preparation of employment agreements.Practice head(s):
Elvan Aziz
Other key lawyers:
Gülce Saydam Pehlivan
Testimonials
‘The team is very meticulous and responsive. The service they have rendered is detailed and outstanding since they do their best to understand our business and values.’
Key clients
Abu Dhabi Developmental Holding (ADQ)
Cisco Systems
Flutter Entertainment
Goldman Sachs
Hepsiburada
Hudson Hill Capital Management
IMCD
Mercury
PIT İstanbul
PwC
Qatar Investment Authority
Sisal Lottery / Sisal Technology
WarnerMedia
Work highlights
- Advised Hepsiburada on the revision of its long-term incentive schemes for C-level executives.
- Advised PricewaterhouseCoopers on the sale of its Global Mobility Tax and Immigration Services business.
- Advised PIT Istanbul on visa and residency permit requirements for the head office and task force teams brought to Turkey.
Turkey > Energy Tier 2
Paksoy advises clients on project finance, contract and regulatory matters in relation to big-ticket energy and infrastructure projects. The team is regularly involved in energy projects including M&A, construction and supply contracts, operation and maintenance agreements and regulatory matters. The practice is led by Sera Somay who covers a range of financing transactions including club loans, syndicated loans, regulatory capital, acquisition financing and ECA covered loans.Practice head(s):
Sera Somay
Other key lawyers:
Merve Kurdak
Testimonials
‘Very responsive.’
Key clients
Deutsche Bank
European Bank for Reconstruction and Development (EBRD)
Gexpro Services
PV Hardware
Sendrea Holding
Zorlu Group
Work highlights
- Advised Deutsche Bank on the financing provided to Turkey’s state-owned crude oil and natural gas pipelines and trading company BOTAŞ for its future purchases of Liquefied Natural Gas.
- Advised Turkish multinational conglomerate Zorlu Group on the project financing of Osmangazi Power Distribution (OEDAŞ).
- Advised HSBC on three different loans provided to EnerjiSa, a member of the Sabancı industrial conglomerate and a leading electricity distribution and retail company.
Turkey > IT and telecoms Tier 2
Paksoy advises clients on the full spectrum of IT and telecoms matters including data privacy, data protection, cybersecurity and media. The team is also experienced in emerging technologies including artificial intelligence, blockchain and virtual currencies. Stéphanie Beghe Sonmez assists clients with their data protection compliance processes and data sharing issues. She co-heads the team with Sera Somay who focuses on fintech work.Practice head(s):
Stéphanie Beghe Sönmez; Sera Somay
Other key lawyers:
Elvan Aziz
Key clients
Ageas
Biletix/Ticketmaster
Credit Suisse
Fresenius Medical Care
General Atlantic
Global Founders Capital
Johnson Controls
Migros
Prada
Qatar Investment Authority
Pyxus
Sisal Lottery Italia/Sisal Technology
Telus International
Work highlights
- Advised General Atlantic on its share subscription in Turkey’s leading e-commerce platform Trendyol.
- Advised the Qatar Investment Authority on the Series D funding round of leading B2B software as a service (SaaS) platform Insider.
- Advised Fresenius Medical Care on legal and regulatory constraints applicable to the processing and storage of health data in Turkey.
Turkey > Project finance/projects Tier 2
Sera Somay is the main contact at Paksoy when it comes to project financing work. Her department handles the funding for projects in the power, mining, transport and healthcare sectors, acting for international banks and financial institutions. Somay works closely with the firm’s lawyers in broader areas of both financing and corporate law, and the firm has recently had an increased focus on highly structured finance deals that encompass contractual law and regulatory elements.Practice head(s):
Sera Somay
Key clients
Deutsche Bank
European Bank for Reconstruction and Development (EBRD)
HSBC
PV Hardware
Zorlu Group
Work highlights
- Advised Deutsche Bank on the financing provided to Turkey’s state-owned crude oil and natural gas pipelines and trading company BOTAŞ for its future purchases of Liquefied Natural Gas (LNG).
- Advised Turkish multinational conglomerate Zorlu Group on the project financing of Osmangazi Power Distribution (OEDAŞ), an electric distribution company operating in five cities in Turkey.
- Advised PV Hardware Solutions on contract, tax, corporate, regulatory, and employment matters in connection with the Karapınar Renewable Energy Resource Zone Project.
Turkey > Real estate and construction Tier 2
Testimonials
‘Paksoy can take care of any type of issues. Only for patents and trademarks we are working with another firm but all the rest with Paksoy. Paksoy lawyers are experts in their fields.’
‘They are experts in their fields, good follow up and solution oriented.’
Work highlights
Turkey > Media and entertainment
Paksoy > Firm Profile
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.
Main Contacts
Department | Name | 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 |
Lawyer Profiles
Photo | Name | Position | Profile |
---|---|---|---|
Ms Elvan Aziz | Elvan Aziz is the partner heading the corporate practice of the firm,… | View Profile | |
Ms Stéphanie Beghe Sonmez | Stéphanie Beghe Sönmez is the partner, regularly advises on foreign law aspects… | View Profile | |
Mr Ömer Çollak | Ömer Çollak is the partner heading the capital markets practice of the… | View Profile | |
Mr Serdar Paksoy | Serdar Paksoy is the founder and senior partner of the firm. For… | View Profile | |
Ms Sera Somay | Sera Somay is the partner heading the banking and finance practice of… | View Profile | |
Mr M. Togan Turan | Togan Turan is the partner heading the competition practice of the firm… | View Profile |
Staff Figures
Number of lawyers : 55+Languages
English French German TurkishOther
Contact : Serdar Paksoy (founder/senior partner)Legal Briefings
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White-collar crime in Türkiye
1. What are the key legal frameworks and regulations related to white-collar crime in Türkiye that a general counsel should be aware of when conducting business in the region?