Changes to concordat expense advance tariff published in Official Gazette

With a communiqué published in the Official Gazette by the Ministry of Justice, changes have been made to the concordat expense advance tariff. Those requesting a concordat will be required to deposit the expense advance into the court's treasury when filing their concordat request. The concordat expense advance will cover expenses such as all types of notification and postal fees, expert witness and concordat commissioner fees, publication fees, bankruptcy expenses, and the round-trip costs for the file to be sent to the regional court of justice and the Court of Cassation.

CHANGES TO EXPENSE ADVANCE FEES

The party requesting a concordat will pay as an advance: notification expenses amounting to three times the number of creditors declared at the time of the concordat request; 2,000 Turkish Liras, which is the minimum amount for 7 advertisements to be published in the Turkish Trade Registry Gazette; the minimum amount for 7 advertisements to be published on the Press Advertising Agency's official portal as determined in the Official Advertisement Price Tariff; 50 registered mail fees with return receipt for notifications to relevant institutions and organizations; an amount equal to three times the fee determined in the Minimum Expert Witness Fee Tariff for one expert witness; an amount calculated based on a minimum of 2,600 Turkish Liras for the person to be appointed as the concordat commissioner, covering the temporary grace period, with the fee to be determined by the court to be completed later; 1,300 Turkish Liras for other tasks and transactions; and a total of 53,000 Turkish Liras for bankruptcy expenses for those subject to bankruptcy.

UNUSED EXPENSE ADVANCE WILL BE REFUNDED

For debtors not subject to bankruptcy, the court may decide to reduce the amount of the expense advance listed above. The unused portion of the expense advance will be refunded to the requester after the judgment becomes final. If the requester has provided an account number, the refund will be made by transferring it to the account electronically. If an account number has not been provided, it will be sent via the Post and Telegraph Corporation (PTT) as payment at the address, with the costs covered by the advance. If it is understood during the proceedings that the expense advance deposited according to the tariff is insufficient, the missing portion will be completed. The expense advance in this tariff will be applied to concordat requests made after 15.03.2018.