No enforcement
No enforcement proceedings may be started, pending ones stop, and interim injunctions and attachments are not executed; tax and other public claims included (İİK art. 294).
Guide · Turkish insolvency
Konkordato: what a supplier should do
Konkordato (concordat) is the Turkish court-supervised restructuring under the Enforcement and Bankruptcy Law (İİK). Every step is published in the Trade Registry Gazette, and most creditor deadlines run from the day of publication, not from a letter to you.
- Each point with its İİK article
- Deadlines in one table
- Not legal advice
· Ulawk editorial team
Overview
Six stages, all published.
A debtor that cannot pay its debts when due, or is in danger of not paying, may ask the commercial court for konkordato; a creditor who could ask for its bankruptcy may also apply (İİK art. 285).
Most creditor deadlines run from the gazette notice.
Court decisions on the respite are published in the Trade Registry Gazette and on the official notice portal (İİK art. 288). A notice you see late can cost you a deadline.
Filing
The debtor files a preliminary plan, financial statements, a list of creditors and an independent audit report (İİK art. 286).
Temporary respite
Granted at once if the file is complete: three months, extendable by at most two (five months in total). A temporary commissioner is appointed (İİK art. 287).
Definitive respite
One year if success looks possible, extendable by up to six months in difficult cases (İİK art. 289).
Claims and meeting
The commissioner calls creditors to file claims, then to a meeting on the plan (İİK arts. 299, 301).
Vote
The plan is accepted if signed by more than half of the registered creditors and claims, or more than a quarter of the creditors holding more than two thirds of the claims (İİK art. 302).
Court decision
The court approves or rejects the plan; a rejected debtor subject to bankruptcy may be declared bankrupt (İİK arts. 305–308).
Deadlines
The deadlines that matter to creditors.
Count each period from the date shown; the notice itself states the exact period.
| What happens | Your deadline | Article |
|---|---|---|
| Temporary respite is published | Object within 7 days of the notice (a strict period) | İİK 288 |
| Commissioner calls creditors | File your claim within 15 days of the notice | İİK 299 |
| Creditors’ meeting is announced | Meeting at least 15 days later; documents open in the 7 days before | İİK 301 |
| Meeting ends | Late signatures (joining) accepted for 7 days | İİK 302 |
| Approval hearing is announced | Written objections at least 3 days before the hearing | İİK 304 |
| Approval is published | Objecting creditors may appeal within two weeks | İİK 308/a |
| Your claim is disputed | Sue within one month of the approval notice | İİK 308/b |
Creditors who do not file and are not in the debtor’s balance sheet are not admitted to the negotiations (İİK art. 299).
Effects
What the respite means for you.
The temporary respite already has the effects of the definitive one (İİK art. 288).
Interest stops
Unless the approved plan says otherwise, interest on unsecured claims stops from the definitive respite (İİK art. 294).
Secured creditors
Enforcement of a pledge may start or continue, but the collateral cannot be seized or sold during the respite (İİK art. 295).
Your contract continues
Contracts important to the business continue; clauses that make the filing a breach, a ground for termination or an acceleration event do not apply, and both sides perform during the respite (İİK art. 296).
The debtor is restricted
Without court permission it may not grant pledges, give guarantees, make gifts or transfer real estate and essential assets; such acts are void (İİK art. 297).
New credit with consent
Debts incurred with the commissioner’s consent after the temporary respite are not subject to the plan and are paid before other unsecured claims (İİK art. 308/c).
Checklist
What a supplier should do.
In the order it usually matters.
Note the dates
Take the publication date of each notice from the Trade Registry Gazette and diarise the periods in the table above.
Review open orders
You cannot end the contract because of the filing; new deliveries made with the commissioner’s consent rank ahead of the plan.
File your claim
Send the claim with invoices and statements to the commissioner within 15 days; non-money claims are converted to money (İİK arts. 294, 299).
Check guarantees
A creditor who does not consent to the plan keeps all rights against co-debtors and guarantors (İİK art. 303).
Check set-off
Set-off follows İİK arts. 200–201, counted from the temporary respite notice (İİK art. 294).
Vote and follow up
Read the plan, vote, and watch for the approval, rejection or bankruptcy notice.
With Ulawk
See the notice the day it is published.
The deadlines above run whether or not you have seen the gazette.
Your customer list
Add the Turkish companies you sell to, by registry number, by name or from Excel.
Same-day alerts
Konkordato, bankruptcy and liquidation notices arrive with the gazette page and are flagged as risk.
Every later step
Extensions, the meeting, approval or rejection: each new notice on the same company.
Limits
What this guide does not cover.
It summarises the law; your case needs a lawyer in Türkiye.
Not legal advice
Exceptions exist, for example for privileged claims and public receivables.
Other procedures
Negotiation with secured creditors (İİK art. 308/h) and restructuring by agreement (İİK art. 309/m ff.) are not covered.
Court files
Only published notices are covered, not the court file itself.
What is konkordato in Türkiye?
A court-supervised restructuring under the Enforcement and Bankruptcy Law (İİK arts. 285–309) in which creditors vote on a plan that may reduce or reschedule debts; once approved it binds, with exceptions, the claims that arose before the filing (İİK art. 308/c).
How long does the respite last?
The temporary respite is three months, extendable to at most five; the definitive respite is one year, extendable by up to six months (İİK arts. 287, 289).
How long do I have to file my claim?
Fifteen days from the commissioner’s notice calling creditors (İİK art. 299).
Can I terminate the contract because my customer filed for konkordato?
No. Clauses that treat the filing as a breach or a ground for termination do not apply, and contracts important to the business continue (İİK art. 296).
Where are konkordato decisions published?
In the Trade Registry Gazette and on the official notice portal; they are also sent to the trade registry office and other authorities (İİK art. 288).
Sources
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