Göksu’s dispute resolution services are regularly retained by international development agencies, multinational and local banks as well as insurance companies in the areas of regulatory actions, insolvency and re-structuring, debt collection and foreclosure proceedings.
Economic activities in Turkey relies heavily on domestic and foreign financing schemes, whether in the form of project finance or structured finance. However economic downturns are always a reality, whether from self-inflicted reasons such as the choice of investments, or outside factors including force majeure events like Covid-19, currency fluctuations and overall negative financial impact from the host country. When these events arise and regardless of the underlying reasons, creditors must either consider re-structuring the debt or starting collection proceedings without delay.
Therefore, creditors play an essential role for the Turkish economic system. Whether through bank guarantee letters, surety agreements, share pledged loans or other forms,
Our experience and business know-how enable us to use our resources to achieve optimal commercial results for credit institutions or insurers in terms of minimizing loss. For collection proceedings, we prioritize timing and make sure that debtors do not lose liquidity during the process. We are also experienced in making use of several forms of cross-border interim measures such as monetary attachments in order to secure the debt as well as obtaining foreign-enforceable judgements and awards. Hence, we are able to remove any and all obstacles for collection, and reach further than any single jurisdiction.
Regardless of the chosen forum in the underlying agreement or the financial instrument, we act swiftly to find the most cost efficient path to recovery through arbitration, litigation, ADR or debt collection.
When necessary, we also work in a collaborative and flexible way and alongside other law firms on multijurisdictional matters.