Gen Temizer acted as Turkish counsel to an ad hoc committee of noteholders in connection with the extensive financial restructuring of Standard Profil Group, a prominent Tier-1 automotive supplier focused on body sealing systems.

The restructuring encompassed the noteholders’ acquisition of the Group from the existing shareholder, a partial discharge of outstanding obligations under the EUR 275 million senior secured notes originally maturing in 2026, and an injection of EUR 145 million in fresh capital via newly issued senior secured notes. The transaction was effected through a scheme of arrangement pursuant to Part 26 of the UK Companies Act 2006.

The Gen Temizer team was led by Partners Ömer Erdogan and Göze Yıldırım, and included Senior Associate Beyza Olcer. Milbank acted as the global counsel to the noteholders committee.