New decision in the concordat process for Baktat Zeytin: Court grants 1-year final grace period

The Bursa 3rd Commercial Court of First Instance has granted a one-year final grace period, effective from August 21, for Baktat Zeytin, which declared a concordat in April.

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New decision in the concordat process for Baktat Zeytin: Court grants 1-year final grace period

A new stage has been reached in the concordat process for Baktat Zeytin, one of Turkey's long-established olive brands. The Bursa 3rd Commercial Court of First Instance has issued a one-year final grace period decision regarding Baktat Zeytin Sanayi Ticaret A.Ş. and the company owner, Ali Baklan.

Image of black olives being scooped with a metal ladle at a counter. — Baktat Zeytin entered the concordat process in April.

The court's decision will be effective as of August 21, 2026. The decision was announced on August 25, 2026. A three-month temporary grace period had been granted for the company in April, and following the expiration of this period, the temporary grace period was extended for an additional two months in July.

COMMISSIONER PANEL RENEWED

With the final grace period decision, the duties of the previously appointed temporary concordat commissioners have ended. The court has appointed a new three-person panel of concordat commissioners to oversee company operations during this process.

Image of hands holding olives among olive branches and black olives. — The court granted the company a one-year final grace period.

The court also ruled for the continuation of previously implemented concordat measures. Thus, Baktat Zeytin, founded in 1986, will continue its efforts to restructure its debts and maintain its operations under court protection.

News Source: 12punto