As Salva Law & Consultancy, with its expertise in the field of Concordat Consultancy and Apply, Salva Law & Consultancy carries out all kinds of consultancy and application in this field with its professional experience.
With Concordat, it is aimed that at capital companies and cooperatives are restructured through reconciliation ”to pay their debts and to continue their activities. With the amendment, non-traders also can use to concordat.
Any debtor who is not paid or has a risk of not paying due at the time of the debts may request concordat. Also, any of the creditors who may request the bankruptcy of your company may also request the initiation of concordat actions on the debtor with a reasoned petition. The “deep in debt” condition like it is with suspension of bankruptcy does not apply.
The requesting company may request maturity or discount for the total debts. It can also make a request involving both.
There are 3 types of Concordat application;
- The Ordinary Concordat,
- The Concordat after the Bankruptcy ( The Concordat in the Bankruptcy )
- The Concordat Through Asset Abandonment
When we look at the general company conditions in our country, mainly The Ordinary Concordat application will come to the fore.
In the first days when the draft amendment was shared with the public, It is misunderstood that the total concordat time of the authorities said can not exceed 23 months, it is seen that the wrong evaluation was made. The market interprets that the total debt should be paid within a 23 months period. This 23 months period is the time for the Concordat Project to be approved by the court, fulfilling the necessary conditions. However, in the preliminary project, a longer payment period can be planned according to the financial situation. The payment period of the total debt will be the time specified in the approved concordat project of the company.
For more detailed information and consultation, you can discuss with our expert consultants, create solutions according to the situation of your company and get rid of your situation by cooperating together by choosing the most appropriate way for your situation.
For the apply of concordat, you can talk to our best concordat lawyers and to get more detailed answers to the question of what is concordat, you can make decisions together with our concordat attorney to apply for
Remember, the concordat apply with your concordat attorney will help you to be successful and not to make mistakes.