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Hot Practice: Tarik Guleryuz on Guleryuz & Partners' Litigation & Disputes Practice

Hot Practice: Tarik Guleryuz on Guleryuz & Partners' Litigation & Disputes Practice

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Debt collection cases, driven by the ongoing currency crisis in Turkey, as well as shareholder and other partnership disputes, have been the main focus of the Guleryuz & Partners law firm of late, according to Partner Tarik Guleryuz.

“At Guleryuz & Partners, we act for debtors and creditors, whether individual or corporate, in debt collection, insolvency, and enforcement proceedings and provide legal services in complex restructurings as well as M&A transactions and disputes arising thereof,” says Guleryuz. He reports that his firm has recently been handling high-value debt collection cases, mostly on the creditors’ side. Guleryuz explains that the increase in work stems from the ongoing economic crisis in Turkey: “when the economy is not doing very well and exchange rates are unstable, there is naturally an increase in the number of high volume debt collection cases.”

Guleryuz reveals that the cases range in value from EUR 100,000 to the tens of millions. Most recently, his firm helped its clients in collecting a total of EUR 17 million. He explains that one of the key instruments used in the proceedings is the preliminary injunction, which is aimed at seizing debtors’ assets beforehand, as is often the case when the rights of the creditor need to be immediately protected. In one of the recent cases, Guleryuz recalls, a Russian company entered into a takeover agreement with a Turkish one. After the deal had closed, the buyer started having financial difficulties. As a result, the buyer missed payment of several installments and the seller, represented by Guleryuz & Partners, filed for a preliminary injunction against the Russian company.

Guleryuz notes that the number of shareholder disputes has also been on the rise. He explains that these disputes, on average, take a long time to close and, more often than not, end in a settlement: “at the beginning of the year we have closed a shareholder dispute, consisting of around 120 different cases, which had been going on for about eight years.”

Finally, Guleryuz shares his thoughts about the future: “my prediction is that the amount of work is going to increase going forward, partly because of the overall global situation and partly because of our expertise in the field.”

Guleryuz & Partners at a Glance

Güleryüz & Partners Attorneys at Law is an Istanbul based law firm offering a broad scope of high-quality legal services to domestic and multinational clients across a wide range of regulated and non-regulated industries. The Firm is comprised of energetic young professionals, led by experienced lawyers with a proven track record of working in the most demanding environments possible. Our team has comprehensive experience in serving clients in connection with a full breadth of Turkish law matters including Litigation & Dispute Resolution, M&A, Wealth Management & Family Businesses, General Corporate & Contract Law, Real Estate & Construction, Enforcement and Bankruptcy Proceedings, Labor Law, Administrative Law, and Anti-Corruption & White-Collar Crimes. 

Our core business culture is centered on integrity, dedication to clients’ needs, and excellence of legal advice and services. Therefore, our primary objective is to ensure the most personalized and reliable legal service for our clients. In pursuit of this objective, the international academic backgrounds of our partners at prestigious universities in USA, UK and Germany coupled with more than ten years of past experience at top tier Turkish law firms enhances the visionary practice of the Firm.

We blend our practical expertise with our outstanding grasp of legal theory in order to provide our clients with legal services of unmatched quality. Our clients range from multinational companies where we provide a level of attention normally only expected from in-house counsels in order to timely manage every aspect of the clients’ legal needs, to individuals for whom we make their objectives ours in order to provide comfort and ease of life. While we always put client service above all, we are proud to be on a quest to make reliable legal information available for everyone. Hence, we are constantly authoring articles on a broad scope of legal topics for respectable publications including Bloomberg Businessweek and the monthly magazine TR Monitor.

While Güleryüz & Partners operates mainly in Turkish and English, we are capable of providing legal services in French, German and Russian as well. The Firm also has an associated office in Ankara.

You can learn more about the Firm at guleryuz.av.tr