Team size: Five

First, can you please give us an idea of the sort of work your team has done recently (cases, transactions, projects)?

Kürüm Group is primarily focused on the production of iron and steel in Türkiye and the Balkans employing more than one thousand employees. Its legal function comprehends five lawyers – two in Türkiye, two in Albania, and one in Georgia, who divide their work based on their expertise. Besides the day-to-day legal and compliance tasks, we have recently been involved in a significant case. We have applied to the courts of Türkiye and Albania for a debt restructuring process; we have successfully managed to obtain the protection of the courts and continue our operations while restructuring contracts with our debtors. While engaging in these litigations, the legal team has saved the company from going bankrupt.

What do you think are the biggest risks facing your industry at the moment and how are you preparing your company and team to face these risks?

The biggest risks facing the iron-steel industry are undoubtedly the economic recession in the construction sectors and the increase in energy prices. The legal team is getting prepared to overcome those economic risks, aiding the purchase and sales department in re-balancing inputs and outputs of the group by taking preventive steps in order to amend contracts in accordance with our needs.

As we enter the next decade, what skills will a corporate legal team need to succeed in the modern in-house industry?

Business is becoming increasingly globalised; therefore, the legal team must develop an understanding of geographical tendencies in terms of pacta sund servanda of business partners to draft contracts accordingly to prevent local and international litigation.