The Situation in Alanya Worsens: Another Company Files for Bankruptcy Protection

Temporary Concordat Decision Issued for G.G.G.T.H. Ltd. Company in Alanya

A temporary concordat (debt restructuring) has been granted to the G.G.G.T.H. company operating in Alanya. The court also granted a temporary reprieve to the company’s partners.

TEMPORARY GRACE PERIOD GRANTED

Alanya Civil Commercial Court announced that another company has joined the list of financially struggling businesses. A temporary concordat period has been granted for G.G.G.T.H. Trade and Industry Ltd., registered with the Alanya Chamber of Commerce.

PARTNERS ALSO INCLUDED IN THE DECISION

According to the decision filed under case number 2025/704, a three-month temporary grace period starting from June 20, 2025, has also been granted for company partners H.K. and E.K.

ASSETS PLACED UNDER PROTECTION

To allow the company to continue operations, previously seized machinery, equipment, and vehicles have been returned to the firm under the status of trustee custody. Additionally, transfers of real estate and vehicles have been frozen by court order.

ACCOUNTS TO BE MONITORED BY COMMISSIONERS

The court ruled that all checks issued by the company be marked as part of the concordat and that all company accounts be managed under the supervision of court-appointed concordat commissioners. Attorney Şerife Altınkan, CPA Zülküf Demir, and agricultural engineer Ali Ulvi Büyüksoy were appointed as temporary commissioners.

7-DAY OBJECTION RIGHT FOR CREDITORS

The court stated that the feasibility of the concordat will be thoroughly examined. Creditors were granted the right to file objections within 7 days from the date of the announcement.