When a company in Turkey is under heavy debt pressure but still has a viable core business, bankruptcy is not always the best (or only) outcome. Concordat in Turkey (konkordato) is a court-supervised restructuring mechanism designed to give the debtor time and legal protection to negotiate a payment plan with creditors. For many businesses, concordat […]
When a company in Turkey cannot pay its debts as they fall due, the situation can quickly shift from a commercial problem to a legal crisis. The word “bankruptcy” (iflas) is often used loosely, but in practice bankruptcy in Turkey is a structured legal process with major consequences for the company, creditors, and—indirectly—management decisions made […]
Closing a business in Turkey is not as simple as stopping operations. If you want a clean and legally safe exit, you must follow a company liquidation process in Turkey that properly documents the decision to dissolve, appoints liquidators, settles debts, and completes registrations and filings. Foreign shareholders often underestimate how much time and compliance […]