RESTRUCTURING & BANKRUPTCY

Kaçar is a one stop shop for any bankruptcy related matter. We provide efficient solutions for companies with financial difficulties and their creditors in restructurings and bankruptcy liquidations.

 

Kaçar’s  practice is fully focused on bankruptcy law in Turkey and we regularly represent debtors, secured and unsecured creditors, investors and shareholders through  restructuring and bankruptcy processes including but not limited to postponement of bankruptcy, composition, debt restructuring and bankruptcy liquidations.

Our main goal is to maintain the proper practice of Turkish Restructuring and Bankruptcy Law in the light of our experience and global approach while acting for the welfare of our clients and bankruptcy estates.

In Turkey, bankruptcy proceedings can be commenced either by a debtor or one of its creditors. We consult debtors in bankruptcy decision making processes and regularly represent them in commencement of voluntary liquidations.-

For every creditor commencing a bankruptcy proceeding against its debtor, an in-depth-analysis is required. Consequences of a bankruptcy decision should be assessed seriously. Therefore we use all of our resources and knowledge before pushing the start-button. For creditors who want to place their debtors into involuntary liquidations we firstly check the requirements, assess the possible effects of liquidation and then report in detail. Our creditor representation generally includes both bankruptcy litigation and liquidation process as a bankruptcy administrator.

 

Our lawyers represent debtors and apply for moratorium by providing a rehabilitation project in reorganization procedures of capital companies and cooperatives. In such restructuring processes we firstly focus on protecting the assets and continuing the practice of the distressed company.  Considering the economic and political turmoil which our clients may face from time to time, we do our utmost to provide the best possible solution for all stakeholders.  In such times we also represent parties in out-of-court debt restructuring processes and attend the meetings on behalf of our clients.

In bankruptcy liquidations we assist parties in registering claims, attending creditors’ meetings and purchasing assets from the bankruptcy estates. Our lawyers are generally nominated by the secured and unsecured creditors as bankruptcy administrators and we have a deep experience in performing liquidations of large and medium sized corporations.

In Turkish bankruptcy system some of the bankrupt corporations may also have potential to continue their economical practices despite their bankruptcies. In such circumstances we plan the turnaround and provide strategic consultancy on rescuing the mentioned corporations by concluding debt restructuring agreements with major secured and unsecured creditors and applying for the removal of the bankruptcy decision before the commercial court.

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