Esin Attorney Partnership, a member firm of Baker & McKenzie International, has long been a leading provider of legal services in the Turkish market. We have a total of nearly 140 staff, including over 90 lawyers, serving some of the largest Turkish and multinational corporations. Our clients benefit from on-the-ground assistance that reflects a deep understanding of the country's legal, regulatory and commercial practices, while also having access to the full-service, international and foreign law advice of the world's leading global law firm.
We help our clients capture and optimize opportunities in Turkey's dynamic market, including the key growth areas of mergers and acquisitions, infrastructure development, private equity and real estate. In addition, we are one of the few firms that can offer services in areas such as compliance, tax, employment, and competition law — vital for companies doing business in Turkey.
In the last two decades, Turkish economic growth was supported by credit, especially foreign currency denominated funding. As of July 2019, total FX debt (long term and short term) owed...
In the last two decades, Turkish economic growth was supported
by credit, especially foreign currency denominated funding. As of
July 2019, total FX debt (long term and short term) owed by the
private sector in Turkey was USD 211 billion (USD 103 billion is
owed by financial institutions and USD 108 billion by the real
sector). Following major fluctuations of TRY against USD in the
beginning of 2018, Turkish companies with high FX exposure are now
experiencing liquidity and solvency issues.
We prepared an extensive report on what needs to be cured on the
legal and tax angles and proposal for a financial restructuring and
NPL reform. We hope that you will find it useful.
For questions and comments, please feel free to contact one of
the team members focused on these developments.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
