120-year-old tea giant in concordat process
Tirebolu 42, a deep-rooted brand in the Turkish tea sector, has entered the concordat process due to financial difficulties.
Founded in 1905 and holding a significant place in the Turkish tea sector for years, Tirebolu 42 has declared a concordat due to serious financial problems it has been experiencing. As one of Turkey's oldest tea producers, the company has requested legal protection to stay afloat, and a significant stage in the process has now been reached.
COURT SETS DATE FOR CREDITORS' MEETING
In the concordat case heard at the Istanbul 1st Commercial Court of First Instance, the date for the creditors' meeting that will shape the company's future has been clarified following the court's granting of a final grace period to Tirebolu 42. This meeting will be decisive regarding whether the company's debt restructuring plan will be accepted.
DELEGATION OF CONCORDAT COMMISSIONERS MANAGED THE PROCESS
The concordat commissioners appointed by the court, Suphi Ağırbaş, Naci Uzunok, and Prof. Dr. Ali Cem Budak, conducted the process in accordance with the relevant provisions of the Enforcement and Bankruptcy Law. The debtor's statement was taken, creditor records were meticulously examined, and the concordat project was finalized.
News Source: 12punto
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