Sera Somay
PaksoyPaksoy draws on a host of skills to assist large enterprises and lenders on contentious insolvency matters, corporate restructuring, and M&A transactions involving distressed companies. It is recognised for its strength in concordat matters, liquidation, the sale of NPLs, debt restructuring and more. Co-head of M&A Elvan Aziz, head of insolvency and banking and finance Sera Somay, and capital markets specialist Ömer Çollak are the standout practitioners in a four-partner multi-disciplinary group. Somay was the lead partner in a $650m debt and ownership restructuring transaction in the energy sector on behalf of a consortium of domestic and international lenders.
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Key clients
- E.ON
Work highlights
Advising EBRD, IFC, Akbank, K-Exim and Standard Chartered Bank on the restructuring of a project finance loan in the amount of USD 650 million obtained in 2012 by ACWA Power, a Turkish subsidiary of ACWA Group, for the construction and operation of a natural gas combined cycle power plant in Türkiye.
- Advising the international lenders on the loan facility provided to STAR Refinery, a subsidiary of the State Oil Company of the Azerbaijan Republic (SOCAR), for the development and financing of a USD 6.3 billion greenfield oil refinery in the Aegean Sea.
Representation of E.ON, a European operator of energy networks and energy infrastructure and a provider of innovative customer solutions, in an internal restructuring and change of holding company in Türkiye.
Lawyers
Leading partners
The strongest partners in their field, leading on market-leading deals and endorsed by peers and clients alike.
Practice head
The lawyer(s) leading their teams.
Elvan Aziz, Sera Somay, Ömer Çollak