Producing the wagons of TCDD, Yavuzlar Vagon stated that he had financial difficulties and applied for concordat to the court.
Yavuzlar Wagon, which is in the hands of Marmaray and TCDD's other wagon production tender, applied for a concordat to the court, stating that it was experiencing financial difficulties. According to Hürriyet's news, Sakarya-based Yavuzlar Vagon San. ve Tic. Limited Şti.'s financial difficulties, in the petition, it was noted that if a concordat decision is made, the company will be able to carry out its activities effectively.
The court gave the company a 3-month temporary deadline. Sakarya University Lecturer Assoc. Dr. He appointed Nevcan Karaca as a temporary concordat commissioner. The court announced the decision as follows:
"Court notes by; Sakarya University Lecturer as a temporary concordat commander of the Sakarya Trade Registry Directorate, which has been issued for the plaintiff YAVUZLAR VAGON INDUSTRY AND TRADE LIMITED COMPANY with a 15976-month period, starting from 20/11/2018. Dr. In accordance with Article 3 of the Law No. 28 dated 02/2018/7101, on which Nevran KARACA was appointed, and Article 16 of the different HRC; The notice that the creditors can claim with the evidence that there is no condition requiring the delivery of a concordat with a petition within 288 days from the announcement, and that they can ask for the rejection of the concordat request within this framework.
Yavuz Yavuz established a small workshop over the 20 years ago. Yavuzlar Vagon San. and Tic. Ltd. Sti., Is one of Turkey's long-lasting and extensive experience with companies engaged in wagon manufacturing and repair.
For 15 years, he has been serving TCDD at Sakarya - Adapazarı and Sakarya - Pamukova plants continuously. The production, maintenance and revision of various wagons are successfully carried out at Yavuzlar Wagon.
Areas of activity; all passenger, cargo, heavy goods vehicles used in the country and railway applications, electric train sets manufacturing, periodic maintenance and all kinds of damage to the vehicle, is to eliminate the malfunction.
The company continues its production as a modern facility with the latest technological equipment in Sakarya - Pamukova with an area of 8200 m².
WHAT IS KONCORDATO?
In simple terms, it can be called an agreement or debt configuration resulting in mutual concessions to avoid bankruptcy. It has been very popular lately. Konkordato actually filled the gap that emerged with the abolition of bankruptcy suspension.
It can be defined as a regulation envisaged so that debtors who cannot legally pay their debts when they are due or are in danger of not being able to pay their debts can pay their debts and get rid of bankruptcy by giving them a maturity or discounting the creditors' receivables. In fact, this institution is organized for honest borrowers. It aims to protect businesses whose financial structures have deteriorated. - Liberty
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