Demonstrating ‘extensive knowledge in restructuring and insolvency’, ASC Law Office’s strong presence in the area is reflected in its broad client roster. The group acts for a myriad of local and foreign debtors and banks on contentious and out-of-court restructurings, with its debt structuring and dispute resolution departments frequently acting in tandem to provide cross-practice advice. Co-founding partner Okan Beygo leads the debt structuring team and also steers the restructuring and insolvency practice with support from finance partner Levent Yetkil, who is noted for his experience in domestic and cross-border cases.

Ranking among the largest practices in the market, Esin Attorney Partnership, Member Firm of Baker & McKenzie International, a Swiss Verein’s 25-lawyer-strong restructuring and insolvency group is equipped to advise across the full range of judicial and out-of-court proceedings. Routinely engaged by major Turkish and international banks and debtors, it also stands out for its formidable cross-border firepower. Banking and finance specialist Muhsin Keskin co-heads the department together with seasoned litigator Yalın Akmenek. The group additionally includes litigator Koray Söğüt and UK-qualified finance specialist Simon Morgan, who recently relocated from the Moscow office of affiliate Baker McKenzie. Senior associate Ozan Kesim provides key support.

A popular choice for large-scale or cross-border restructurings, GKC Partners (in professional association with White & Case)’s group is particularly dominant in energy and project-related matters. In a recent example of its practice sweet spot, the team advised the lenders (Garanti BBVA, Ziraat Bank, Yapı Kredi Bank, İş Bank, Vakıfbank and Halkbank) on the restructuring of Kangal Thermal Power Plant’s debts. The Kangal work was led jointly by Güniz Gökçe, who heads the banking and finance practice, and Ateş Turnaoğlu, who possesses an ‘extraordinary ability to understand the client’s needs’.

The restructuring and insolvency group at Hergüner Bilgen Üçer Attorney Partnership draws on the wider firm’s top-tier offerings in energy and projects to excel in advising on the restructuring of major projects, with particularly strong activity in the healthcare sphere. The group, which strikes a balance between lender-side and debtor-side mandates, also impresses with its extensive experience in cross-border files. Key contacts include managing partner Senem Denktaş, who is recognised for her projects expertise; banking and finance specialist Piraye Kuranel Başol; and dispute resolution partner Şule Uluç.

Paksoy houses a thriving restructuring group that acts for debtors, creditors, sponsors and other stakeholders across a wide range of loan restructurings and insolvency proceedings. Increasingly, the full-service practice is also engaged to advise on non-performing loan (NPL) portfolios and distressed M&A transactions. Banking and finance head Sera Somay co-leads the team together with corporate and M&A head Elvan Aziz and capital markets specialist Ömer Çollak. The team also draws on a sizeable pool of counsels, including litigator Doğuhan Uygun and finance and projects-focused Zekican Samlı.

The multidisciplinary practice at Balcioglu Selçuk Ardiyok Keki leans on lawyers from across its banking, corporate and litigation teams – among others – to provide comprehensive coverage of restructuring and insolvency matters. With strong recent experience in acting for both debtors and creditors, the group is also well versed in cross-border proceedings, where it can draw on the wider network of affiliate firm Dentons. Key names include banking and finance co-heads Barlas Balcioğlu and Günhan Yalçın, as well as litigator Semih Sander and corporate specialist Doğan Eymirlioğlu.

Best known for its work with financial institutions, CIFTCI Attorney Partnership in association with Clifford Chance advised major local and global lenders on a string of debt restructurings over the past year. The team is also distinguished by its international offering and it routinely leverages the wider firm’s global network to secure roles in multi-jurisdictional matters, particularly UK-related work. Finance specialist Sait Eryılmaz spearheads the practice, while counsel Gökçe Uzun provides support.

DURUKAN+PARTNERS’ restructuring and insolvency team sits within its wider projects, banking and finance department and is noted for its representation of borrowers and debtors. The group brings to bear particular experience in the telecoms, financial services, and energy and natural resources spheres, under the leadership of practice co-head and project finance specialist Begüm Durukan Özaydin. The team also includes corporate and commercial partner and fellow practice co-head Hikmet Fadillioğlu, as well as senior associate Damla Göksel Emiroğlu.

Restructuring and insolvency work is a mainstay at Egemenoglu Law Firm, with the firm primarily sought after by local debtors for its strong record in steering companies through Turkey’s concordatum process. The team also represents banks and other financial institutions in debt and corporate restructurings. High-profile specialist Yunus Egemenoğlu co-heads the department together with litigator Turan Doğan. Dispute resolution partner Dilek Gürsan is also an active member of the practice.

Moroglu Arseven demonstrates strong recent experience in representing a range of court-appointed officers, debtors and creditors in domestic and cross-border restructuring and insolvency cases. Equipped to handle both judicial and out-of-court proceedings, the group frequently works hand-in-hand with the corporate, dispute resolution, employment and tax teams to resource complex matters. Seyfi Moroğlu, who advises on litigation and corporate finance transactions, co-heads the group alongside up-and-coming litigator Burak Baydar. Benan Arseven and Burcu Tuzcu Ersin are also recommended.

The ‘very experienced and collaborative’ group at ÖzmenYalçin has a focus on refinancings and debt restructurings, where it acts for mix of lenders and borrowers. The team is jointly led by banking and finance specialists Ömer Gökhan Özmen and Güneş Yalçın, both of whom enjoy good relationships with domestic and global financial institutions. The group also includes newly promoted partners Damla Keskin Şerbetcioğlu and Handan Bacıoğlu, who also focus on banking and finance transactions.

The full-spectrum practice at Pelister Atayilmaz Enkur Law Office covers a broad scope of restructuring and insolvency work, with extensive experience in distressed debt, special situations, NPLs and corporate restructurings. The group’s client list is equally comprehensive, with domestic and foreign financial institutions, including state-owned entities, and corporations all on its books. Key names include Kerim Pelister, who contributes expertise in corporate restructurings and NPLs; corporate partner Gökhan Enkür; and Fazil Ciftci, who handles banking and finance, bankruptcy and litigation.

Transport powerhouse Ersoy Bilgehan Lawyers & Consultants is recognised for its expertise in marine-related debt restructurings. The group enjoys a strong international reputation for its specialist practice and is frequently involved in multi-jurisdictional matters on behalf of lenders and borrowers. High-profile shipping specialists Zihni Bilgehan and Ergün Ersoy co-head the practice together with Emre Ersoy, who also specialises in shipping law, and M. Raci Alper.