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

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

Turkiye
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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

We are Güleryüz Partners, an Istanbul based law firm, offering high-quality legal services to domestic and multinational clients.

Our team consists of energetic young professionals who are led by talented partners with strong academic backgrounds at prestigious universities in the USA, UK, and Germany, coupled with vast market experience exceeding a decade at top tier Turkish law firms. All our associates are fluent in English and provide legal advice in additional languages such as German and French.

Our practice ranges from complex disputes to sophisticated M&A and finance transactions. We provide niche legal services in a wide range of legal areas such as litigation and dispute resolution, local and cross border M&As, banking, finance and capital markets, venture capital investments and start-ups, and compliance and corporate governance (including data privacy, anti-corruption and white-collar crime, AML, and sanctions).

We value strong communication and information flow among our departments for the perfection of our legal services. This interdepartmental coordination enables us to take a more client-centric approach and to better understand and cater for the client needs. Our business perspective goes beyond providing excellent legal advice to our clients; we also collaborate with them as their business partners and offer them the entire legal ecosystem that they can thrive their business.  

As Güleryüz Partners, we heavily invest in our pro bono projects in Turkiye and work together with institutions, foundations, and other organizations to provide legal advice to the persons in need of help, while acknowledging the high costs usually associated with high quality legal services limit the access to justice for many people.

We also pride ourselves on fostering and promoting a diverse, equitable and inclusive work environment where every individual feels valued and respected.

For further information, you may visit our website at www.guleryuz.av.tr.