Major tender company files for concordat: 3-month period granted

The effects of the economic crisis continue to manifest in the real sector. Pozitif Boru Makina Plastik Elektrik İthalat İhracat İmalat Sanayi Ticaret Limited Şirketi, one of Turkey's most well-known pipe manufacturers and infrastructure suppliers, has filed for a concordat due to increasing financial burdens and cash flow problems.

The Ankara-based company, which has been operating for approximately 20 years, has participated in hundreds of public and private sector tenders to date, including those for TOKİ, state hospitals, student dormitories, and infrastructure projects.

COURT GRANTS 3-MONTH TEMPORARY RELIEF

In its decision dated July 9, 2025, the Ankara West Commercial Court of First Instance granted a 3-month temporary relief period for Pozitif Boru and company partner Hakan Doğan. During this period, the aim is for the company to stabilize its financial structure, establish a basis for reconciliation with creditors, and continue its operations.

ENFORCEMENT PROCEEDINGS HALTED, MEASURES IMPOSED ON CHECKS

In accordance with the court decision:

All enforcement proceedings initiated against the company have been halted.

The initiation of new enforcement proceedings and the implementation of precautionary attachment orders against the company have been prohibited.

It was decided that a "concordat measure" annotation be placed on bounced checks presented to banks.

CREDITORS GRANTED 7-DAY RIGHT TO OBJECT

The court granted creditors a 7-day right to object to Pozitif Boru's concordat application. During this period, creditor firms may submit evidence to the court for the rejection of the application.

News Source: 12punto