TURUNÇ’s services regarding banking and finance matters are twofold. On the one hand, the Firm acts as Turkish legal counsel to banks and multinational financial institutions such as banks, lenders, finance facility agents, escrow agents, liquidity facility providers, security trustees, swap counterparties and guarantors with respect to their activities, transactions and interests in Turkey. On the other hand, the Firm advises industrial, commercial and trading companies on their relationships with banks and financial institutions in and outside of Turkey.

Our advice on banking legislation encompasses compliance, corporate governance, banking transactions, letters of credit, guarantee letters, assignment of receivables, collection proceedings as well as bankruptcy of banks and the status of their assets.

On the transactional side, we advise on a multitude of projects including domestic and cross-border credit facilities, project finance, export credit facilities, securitizations, option deals to acquire title to the non-securitized assets, real estate and facility financings, sale and repurchase transactions, sales of export-related receivables.

Our banking and finance team works closely with our M&A and funds practices, in particular with respect to structured finance, project finance and leveraged finance transactions. We design and implement innovative and complex financial structures to maximize liquidity and investment through tradable, tax-efficient funding vehicles.

We also have vast experience in bankruptcy and insolvency proceedings with respect to banks, including, but not limited to, voidable transactions, look-back periods, donations and transactions without, or with insufficient, consideration, transactions during the debtor’s insolvency period, automatically terminated agreements upon adjudication of bankruptcy, and automatic stays. In addition to domestic insolvency issues, we also take part in insolvency transactions with international aspects by providing advice on the Turkish market, insolvency laws and processes, and on a wide range of contentious issues of Turkish litigation. For example, we have represented over twenty foreign banks in the bankruptcy proceedings of three bankrupt Turkish banks (Impexbank, Marmara Bank and TYT Bank).

We also have a significant fintech practice, supported by our funds, privacy and technology teams. Our fintech practice focuses on both compliance and transactions, in particular venture capital investments into fintech startups.