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Hot Practice: Haluk Bilgic on BilgicLegal’s Finance Practice

Hot Practice: Haluk Bilgic on BilgicLegal’s Finance Practice

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Founding Partner Haluk Bilgic reports that BilgicLegal’s busiest team was the one focused on restructuring transactions and debt financing in the first half of 2020. “That includes not just project and transaction financing but also shipping finance transactions,” Bilgic explains, while noting that the primary focus has been on restructuring existing deals, “since it’s not the best time to initiate new transactions.”

Bilgic explains that the impact of the COVID-19 outbreak and the general debt economy have been driving this type of work. Of the latter, Bilgic says that it has “decreased substantially over the last 12 month – not just because of COVID-19 and its impact on the market but also due to some of the structural weaknesses of the Turkish economy, which has been registering shrinkage across all sectors.”

Bilgic claims that his firm has benefited from its independence, which, he argues, allows it to be “more flexible and able to cooperate with a number of international players not present in the country, or even collaborate with some of the local firms here.”

Looking towards the future, Bilgic says there won’t be a lot of “big ticket M&A transaction or original project finance transactions, except for those that are sponsored or backed by the government.” Those, however, he notes, “have a timeline of their own based on the government’s agenda.” Overall, Bilgic projects that “we’ll be seeing a lot of restructuring financing, bankruptcy transactions, and the likes but a lot of it is a question mark at the moment as everyone is still unsure what the impact of the second wave of COVID-19 will be. I feel this is going to be rather unpredictable for a while."

Turkey Knowledge Partner

NAZALI offers a broad range of services in the fields of Tax, Audit, Corporate and Commercial Law, Mergers & Acquisitions, Corporate Finance, Banking, Finance and Capital Markets, Protective Legal Services and Dispute Resolution, Personal Data Protection and Privacy, Social Security and Labor Law, Occupational Health and Safety, Competition Law, Intellectual Property Law and R&D, Compliance and White-Collar Crimes, Administrative Law, Real Estate Law, Customs and Foreign Trade, Accounting and Payroll, Financial Incentives and Advisory Services and Public Administration and Compliance through its partners, associates and consultants of different seniorities who have both public and private sector experience.

What sets NAZALI apart from others is that NAZALI offers a truly comprehensive service to its clients with experts from different disciplines working collaboratively as a team under one roof enabling us to evaluate all dimensions of legal matters together with financial and technical matters.

The services that NAZALI provides to its clients include the most appropriate solution with the support of technical departments specialized in their fields. In this context, NAZALI associates are supported by NAZALI technical team and work alongside the experts in the fields of finance, social security and customs matters. NAZALI has set out with the aim of providing the most efficient and comprehensive solution for its clients by adapting to the developing conditions and happily gained the trust of its clients by never compromising the quality of service.

As conditions continuously evolve, NAZALI always aims to further itself remaining true to its motto “GROW WITH KNOWLEDGE” and has set out with the aim of providing the most efficient and comprehensive solution for its clients by adapting to the developing conditions and happily gained the trust of its clients by never compromising the quality of service.

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