BANKING AND FINANCE

“Anladın ya, işim başımdan aşkın,
anladın ya, gülüm,
ben sana âşık olmakla meşgulüm…”

“You see, I’m head over heels at work,
you see, dear,
I’m busy falling in love with you.”

Nazım Hikmet (1902 – 1963)

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.

SELECT NEWS FROM BANKING AND FINANCE

TURUNÇ Advises Boğaziçi Ventures on its Investment in Mükellef

13 Jun 2024
TURUNÇ has advised Boğaziçi Ventures on its investment in Mükellef (known as Workhy internationally), an online platform that allows entrepreneurs to manage company formation and financial processes. APY Ventures, 3dots, Sistem Global, ANKA Ventures and Finberg also joined the round. Boğaziçi Ventures is a leading Turkish Capital Markets Board-regulated venture capital fund focused primarily on...

New Publication: Lexology Panoramic – Venture Capital 2024

15 Apr 2024
TURUNÇ authored the Turkish chapter of Lexology Panoramic’s Venture Capital 2024 title. The contributing lawyers were Kerem Turunç, Esin Çamlıbel, Yasemin Erden, Naz Esen and Beste Yıldızili Ergül. The publication, previously known as Getting the Deal Through, is a comparative guide of the legislation relating to venture capital investments in 11 jurisdictions. In addition to Turkey,...

TURUNÇ and Kerem Turunç Top Q1 2024 League Tables

02 Apr 2024
According to data published by CEELMDirect, TURUNÇ worked on more reported client matters than any other Turkish firm in the first quarter of 2024, and managing partner Kerem Turunç worked on more reported client matters than any other lawyer in the Central and Eastern Europe (CEE) region in the same period. Two other Firm partners,...