About

Otoyol Yatırım ve İşletme (Otoyol) is a special purpose vehicle (SPV) company, as generally defined in project finance terminology, established for the Gebze-İzmir Motorway Project. The company’s in-house legal team is responsible for drafting shareholders agreements, articles of association of the company and other related documentation, as well as conducting establishment processes. Such a constituent role also applies for the establishment and development of the legal department in the company. Currently the legal department acts as the legal office for four affiliated companies formed alongside Otoyol Yatırım ve İşletme with different roles in regard to the operation, maintenance and construction of the motorway and service stations. The scope of the team’s work has expanded since a portion of the motorway was put into operation, increasing corporate issues and private law contracts. The legal team has been heavily involved in the project since the original financial close in 2013, followed by an additional finance package in 2014 and subsequent refinancing of the entire project in 2015. The team was involved in the İzmit Bay Suspension Bridge EPC Turn-key (FIDIC-Silver Book) contract negotiation and finalisation in 2011. Additionally, the team handled the establishment of the debt collection system regarding illegal passes on the motorway. Thousands of execution proceedings and lawsuits were filed and numerous notices were produced by the debt collection system and sent to the attention of the illegal passers. All of these milestones represent key events in the project which was one of the first of its kind in Turkey. Although challenging it provided ample opportunities for professional growth of in-house counsels. Murat Sümer, chief legal counsel, says, ‘We would like to emphasise that the achievements of an in-house legal department can only be made through coherent team work, rather than relying on individual talent. We are thankful to have such superiors and colleagues who, through their great commitment to our work and our team, made our project one of the most successful ones in the country’.