Turkish Law Blog

Serkan İçtem

Serkan İçtem


Biography Articles

Mr. İçtem has experience in bank finance transactions, mergers and acquisitions, general corporate law matters and commercial litigation.


In bank finance as his main area of practice, he focuses on drafting numerous loan documentation with an emphasis on leveraged finance transactions and represents agent banks or lenders in providing senior or secured financing to a large number of borrowers operating in a variety of industries. Mr. İçtem also worked in many transactions involving extension of subordinated loans to Turkish banks. Mr. İçtem was actively involved in many securitization deals in Turkey representing domestic banks or arrangers in their credit card receivables and diversified payment rights securitization programs. Another major focus area for Mr. İçtem is distressed debt financing and debt reorganization matters. He has worked on Turkey’s first and various other non-performing loan sale transactions as well as various debt restructuring deals for distressed debtors. In addition to transactional matters, Mr. İçtem advises various foreign financial institutions with respect to Turkish financial and capital markets legislation.


Mr. İçtem has been involved in various direct investments by multinationals into Turkey. With a particular emphasis on representation of foreign buyers, he has worked on various cross-border mergers and acquisitions and joint venture restructurings. He has played an active role in the first major venture capital deal in Turkey.


In addition to his experience in Turkey, Mr. İçtem has also worked in the New York office of White & Case, LLP and was involved in the areas of corporate trust, bank finance, bankruptcy and workouts.


He advised trustees on both US based and international transactions, asset backed securitizations and project finance transactions by reviewing Indentures, Trust Agreements, Security Agreements, Collateral Agency Agreements, Issuing and Paying Agency Agreements, Depository Agreements and Escrow Agreements.


He has also worked on DIP financing and bankruptcy (Chapter 11) related reorganizations and workouts in the US.


Given his wide experience in commercial law, foreign investment and partnership law Mr. İçtem’s practice also involves an advisory as well as adversary role in complex commercial disputes with a specific focus on partnership and intra shareholder disputes. Mr. İçtem advises and represents various financial institutions against debtors in Turkish courts and arbitral tribunals concerning complex commercial breach of contract claims, goodwill compensation claims arising from termination of distributor relations and collateral foreclosure actions.


He is also a guest lecturer in Bilkent University Business Administration Faculty’s executive MBA program, lecturing every year on practical aspects of mergers and acquisition transactions in Turkish market and disputes arising therefrom.




      New York University School of Law (LL.M.)


Istanbul University School of Law


Career to Date

2011 – Present

Managing Partner, İçtem Legal, İstanbul


 – 2011

Partner, ELİG, Istanbul


 – 2004

Lawyer, White & Case LLP, Istanbul


 – 2003

Lawyer, White & Case LLP, New York


 – 1999

Lawyer, White & Case LLP, Istanbul


Bar Association

: Istanbul 1997; New York 2001

Foreign Languages

: English


Relevant Publications and Speeches


  • “Turkish Law Gives Personal Liability From Corporate Public Debts to LLC Members”, Tax Notes International, New York, 2003;
  • “Underwriting Methodology”, Turkish Capital Markets Magazine, Istanbul, 2004;
  • “Analysis of Joint Stock Company Share Transfer Restriction Provisions”, Istanbul Bar Association Journal, 2004;
  • “Thin Capitalization Rules under Turkish Corporate Tax Law”, Global Tax Report, Istanbul, 2004;
  • “Mortgage Securitization – Making the Deal”, Key note speaker on Turkish mortgage law and associated legislation, Istanbul, 2007;
  • “Time for Turkey”, Baker & McKenzie Newsletter on Securitization and Structured Capital Markets, London, 2008;
  • “From Emerging to Converging”, Mortgage Risk Magazine, Istanbul, 2008;
  • “The Republic of Turkey Business and Investment Summit organized by The European Finance Convention”, Key note speaker on the status of debt markets, Istanbul June 5, 2008;
  • “Dispute Resolution in 48 jurisdiction worldwide, Turkey Chapter” Getting the Deal Through 2010
  • “Conditional Capital Increase System as a New Corporate Financing Structure” (Yeni Bir Finansman Yöntemi Olarak Şartlı Sermaye Artırım Sistemi) Legal, Banking and Finance Law Review, No. 2, 2012;
  • Real Estate in 30 jurisdiction worldwide, Turkey Chapter” Getting the Deal Through 2013
  • “A Practical Approach to Legal Protection of Equity Investment Under Turkish Law”, Vedat Kitapcilik, 2015
  • “Knowing The Very Basics Of a Murabaha Loan Structure”Mondaq 2017